EU member states have agreed February 17 on the Commission's proposal to invest some Eur444 million in key European energy infrastructure projects.
The 18 selected electricity, smart grids and gas projects “will contribute to achieving the Energy Union's goals by connecting European energy networks, increasing security of energy supply, and contributing to the sustainable development by integrating renewable energy sources across the EU” the EU Commission said, reiterating its strategy “has at its centre the transition to a low-carbon, and secure and competitive economy.”
Of the 18 projects selected for funding, 7 are in the electricity sector (receiving Eur176 million financing); 10 in the gas sector (Eur228 million) and 1 for smart grids (Eur40 million).
The funds for the chosen projects come from the Connecting Europe Facility (CEF), the EU's funding support programme for infrastructure.
“These are important projects with major cross-border implications” commented the Commission's vice-president for Energy Union Maros Sefcovic.
“Thanks to this upgrade, the proposals in the Clean Energy for All Europeans package are even closer to become a reality” said commissioner for climate action and energy Miguel Arias Canete .”The EU is demonstrating its commitment to delivering cheaper, more sustainable and secure energy to European consumers".
SuedLink, storage projects to receive funding
In detail, in the electricity sector, some Eur40 million are to fund implementation of the SuedLink infrastructure project in Germany, which consists of 700 km of high voltage cables due to be laid fully underground. “The power line will create an urgently needed link between the wind power generated in the north and the consumer centres in the south of Germany” the EU Commission said, adding that “it will ensure better integration of renewable energies and it will also further enhance the cross-border exchange of energy with other EU member states.”
Moreover, an Eur90 million EU grant will support the implementation of the compressed air energy storage (CAES) project in Larne, Northern Ireland. This project uses excess energy coming, for example, from abundant renewable generation, into compressed air which is then stored in geological caverns within salt layers deep underground, for later release to generate electricity. “The project will contribute to system flexibility and stability and facilitate the large-scale penetration of renewables into energy markets” the EU Commission said.
In the gas sector, Connecting Europe Facility is to award Eur102 million for the construction of an off-shore LNG terminal on the Croatian island of Krk aimed at improving “ energy security and price competitiveness in the region.”