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EC announces EUR980 million funding for green energy infrastructure [free access]

March 16, 2020

The European Commission (EC) has announced EUR980 million in new funding for key European energy infrastructure projects with major cross-border benefits. The EC funding comes from the Connecting Europe Facility (CEF) for trans-European infrastructure projects.

 

The 2020 CEF Energy call for proposals will be open until May 27, 2020 for projects that contribute to the European Union’s (EU) carbon neutrality objectives under the Green Deal, which aims to transform the EU from a high- to a low-carbon economy.

 

For a project to qualify for CEF funding, it must be foremost tagged as a Project of Common Interest (PCI), which means it should have significant benefits for at least two EU countries, and increases competitiveness, enhances energy security in the region and contributes towards sustainable development.

The projects proposed under this programme will be evaluated against several criteria, including the state of maturity, cross-border dimension, and the extent to which these will remove bottlenecks and end energy isolation. The CEF Energy has a total budget of EUR4.9 billion for trans-European energy infrastructure for the 2014-20 period.

 

Recently, in October 2019, the EC adopted its fourth list of PCI, which will enter into force on March 31, 2020. This new PCI list includes a total of 151 PCIs, including 102 in electricity, 32 in gas, six each in oil and smart grids, and five cross-border carbon dioxide network projects. 

 

(EUR1=USD1.08)