News // Energy
EU invests a further €800 million in priority energy infrastructure
24 January 2019 , 10:11Neftegaz.RU428
Brussels, January 24 - Neftegaz.RU. Today's vote concerns Connecting Europe Facility (CEF) financial aid for studies and works for a total of 14 projects: 7 for electricity, 2 for smart grids, 2 for CO2 cross-border transportation and 3 for gas.
Commission Vice-President in charge of the EU, Maroš Šefčovič affirmed:«CEF is one of those instruments that prove the EU's added value. Today's approved list showcases that EU is an efficient tool to modernise and green our economies, to make them future proof in line with climate and environmental goals.»
The proposed CEF-Energy funding amounts to almost €800 million, with electricity and smart grids accounting for €504 million, €9.3 million to support studies on the development of a CO2 transport infrastructure; and €286 allocated to the gas sector.
In the electricity sector, a €323 million grant is awarded to the Baltic electricity synchronisation project. The Baltic States remain synchronously connected to the central dispatch facility of Russia, hindering their full integration into EU electricity markets.
On smart grids, support has been approved for the ACON SG project tomodernize and improve the power grid between Czechia and the Slovak Republic. The €91 million grant will now contribute to the setting up of smart grids in the border region.
Moreover, €6.5 million in funding will be allocated to a study on the development of a CO2 infrastructure in the Port of Rotterdam. The objective is to establish an open access, cross-border, carbon dioxide network in North-West Europe, with its core located in the Port of Rotterdam.
Finally, in the gas sector, the CEF will support, with nearly €215 million, the Baltic Pipe project, a new, bi-directional offshore gas interconnection between Poland and Denmark. This pipeline will be crucial for security of supply and market integration of the region.
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