EU to award funding for clean energy projects

Jack Unwin 20 March 2019 (Last Updated March 20th, 2019 16:44)

The EU has announced that it will award funding for European energy projects with cross-border benefits through the Connecting Europe Facility (CEF)

EU to award funding for clean energy projects
The EU, Korea and Germany have prepared coronavirus recovery plans which will assist renewable generation. Credit: TeaMeister.

The European Union (EU) has announced that it will award $850m (€750m) in funding for European energy projects with cross-border benefits through the Connecting Europe Facility (CEF), which supports trans-European infrastructure projects.

Calls for proposals to the CEF are open until 13 June 2019. In order to apply for funding projects must be selected as Projects of Common Interests (PCIs), have an impact on at least two EU countries and contribute to sustainable development and environmental protection.

Following this, projects will be evaluated for their state of maturity, security of supply, innovation and levels of public support required to remove financing bottlenecks.

In 2019 the CEF is looking for proposals that offer solutions to end energy isolation, integrate energy from renewable sources and develop smart energy networks.

So far the CEF has allocated €3.4bn in funding for PCIs, and it expects the total amount of funding to be around €5.4bn for the period 2014-2020.

EU commissioner for energy and climate action Miguel Arias Cañete tweeted: “Europe’s energy infrastructure must fully support the transition towards a climate neutral EU. Today we make €750 million available for clean energy infrastructure and interconnections.”

Previous CEF funded PCI projects include the SINCRO.GRID smart grid installation, which enabled new renewable electricity generation in Slovenia and Croatia and the Celtic interconnector, which will enable Ireland and France to exchange 700MW of electricity when it is completed in 2025.