The European Commission has released €750-million in funds for Europe's cross-border clean energy infrastructure projects. Providing support to the construction of necessary infrastructure is part of the Commission's energy policy priorities of providing more choice for consumers, improving energy security, and creating jobs and economic growth. These energy interconnections are seen as important for renewable energy to continue thriving with the aim of making Europe a world leader in the renewable sector.
The Energy Union has been one of the Juncker Commission's priorities throughout its mandate and a fully interconnected European network is a prerequisite for the attainment of that goal.
Miguel Arias Cañete, Commissioner for Climate Action and Energy, said: "Europe's energy system is moving fast from an energy system of last century to a low-carbon, more digital and consumer oriented one. The energy transition is well underway in Europe, with record levels of renewable energy and rapidly falling costs. Europe's energy infrastructure must develop in the same direction and with the same speed to fully support this energy transition towards a climate neutral Europe”.
An interconnected Internal Energy Market is seen to being key to achieving cost-effective decarbonisation of the energy mix and will work towards better integration of intermittent renewable energy whilst contributing to the achievement of the EU's 32% share of renewable energy consumed and a 40% domestic reduction in greenhouse gas emissions by 2030 compared with 1990, in line with the Paris Accord.
A climate neutral European economy by 2050 is the ultimate goal and the Commission has stressed the importance of an "adequate and smart" clean energy infrastructure.
Background
The 2019 CEF Energy call for proposals will be open until 13 June 2019. To apply for CEF Energy funding, projects must first be designated Projects of Common Interest (PCIs). PCIs need to have a significant impact on at least two EU countries and must increase competitiveness, enhance the EU's energy security and contribute to sustainable development and environmental protection.
The received proposals for financing, which can be for studies or construction works, will then be evaluated against several additional criteria. These criteria include their state of maturity, their benefits in terms of security of supply, solidarity or innovation, and to what extent public support is needed to remove financing bottlenecks.
CEF-Energy envisages a total budget of €5.35 billion for trans-European energy infrastructure for the period 2014-2020. In order to be eligible for a grant, a proposal has to be 'a project of common interest' (PCI). When completed, the projects will each result in significant benefits for at least two Member States, enhance security of supply, contribute to market integration, and enhance competition, as well as reduce CO2 emissions. The Union-wide list of Projects of Common Interest is updated every two years. The latest PCI list was published by the Commission in November 2017. The CEF-Energy has allocated €3.4 bn to PCIs to date.
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