The European Commission has announced €800 million will be allocated to support energy infrastructure projects under the program for trans-European infrastructure development, and that EU member states have approved the funding package.
The money, the commission said, will be provided by the Connecting Europe Facility, an EU fund for pan-European infrastructure investment in transport, energy and digital projects.
The commission added, €504 million will be devoted to electricity infrastructure and smart grid projects, with another €286 million for gas and the remaining €9.3 million supporting studies on the development of a CO² transport infrastructure. The commission specified the funds will finance projects that were selected through a call for proposals that ran from June to October.
The €504 million for the power sector will support two energy infrastructure projects key to the EU Clean Energy Package, and its central idea of creating a European integrated energy market: the interconnection of the Baltic States to Europe and of Poland to Germany, Slovakia and Czechia.