EU to invest €444 million in key energy projects
EU agreed on the EC's proposal to fund €444 million worth of energy infrastructure projects considered key for the development of the European energy sector. Connecting Europe Facility (CEF), EU's funding support organisation for infrastructure, is to provide the necessary money. Out of the 18 projects, 10 regard gas (€228mn), 7 electricity (€176mn) and 1 smart grids (€40mn). Three of the largest grants amount to almost €300mn and regard compressed air energy storage construction in UK (€90mn), Poland-Slovakia gas interconnector (€107.7mn) and Krk offshore LNG terminal in Croatia (€101.4mn). EU intention is made clear: more gas supply routes and a stronger focus on energy storage technology - both of which in line with EU's policy of enhancing energy security and supporting the energy transition.
Source: European commission