The European Commission has committed nearly €1.25 billion in grants through the Connecting Europe Facility to bolster 41 energy infrastructure initiatives across borders.
This funding marks a significant step as it introduces backing for hydrogen and offshore electricity grid projects under the Trans-European Networks for Energy (TEN-E) policy framework. This financial push highlights the European Union’s strategy to enhance its energy landscape with smarter, greener solutions.
Electricity Grids and Major Projects
Nearly €750 million of the allocated funds are set aside for eight electricity grid initiatives. Notably, the largest portion of this funding, around €645 million, is allocated to the Bornholm Energy Island project. This project aims to create a hybrid interconnector in the Baltic Sea, linking Denmark and Germany while integrating 3 GW of offshore wind capacity. Another significant project is the Danube InGrid, a collaborative effort between Hungary and Slovakia designed to incorporate renewable energy and optimize system efficiency.
Hydrogen Infrastructure Support
Hydrogen infrastructure stands to gain considerably from these grants, with over €250 million earmarked for 21 developmental studies. This funding supports various projects, including the BarMar-H2med project connecting Spain and France and backbone projects across Italy, Portugal, and Spain. Furthermore, the EU is investing in developing hydrogen corridors and routes throughout the Baltic region to strengthen this burgeoning energy sector.
Funding for Carbon Capture and Storage
Additionally, the EU is allocating €250 million for carbon capture, utilization, and storage projects, encompassing construction efforts and preparatory studies. A substantial €120 million will fund the Prinos storage facility in Greece, aiming to establish a carbon capture and storage value chain in the South-Eastern Mediterranean. Another €55 million is designated for the North Sea L10 CO2 storage facility in the Netherlands. Denmark’s Norne CO2 facility will receive nearly €12 million to support its development.
These investments reflect the EU’s broader goals of transitioning to green energy and reducing carbon emissions.
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