EU connects the dots with €873 million clean energy investment

The EU has announced its plans to invest in 17 electricity and gas projects designed to further the union’s transition to a low-carbon economy.

The multimillion-pound investment will be spent on an array of infrastructure projects to help integrate renewables and natural gas into the system. This will help improve the continent’s energy security and reduce carbon emissions, a key part of the Energy Union policy pursued by the European Commission.

Commissioner for Climate Action and Energy Miguel Arias Cañete highlighted the importance of the investments to wider efforts to curb carbon emissions, stating: “An energy infrastructure which is fit for purpose is also essential for renewable energy sources to thrive and for delivering on the Paris Agreement on climate change”.

A huge €578 million chunk of the investment will go towards one project, a 370 kilometre long cable between France and Spain through the Bay of Biscay. The connection will help double electricity flows between the two countries and incorporate renewable energy across the Iberian Peninsula.

€70 million will also be spent on the ‘SuedOstLink’ in Germany, which will run a 580 kilometre underground cable to connect wind farms in the north of the country to population centres in the south. The project had been a source of controversy in the country due to local community opposition to initial proposals to build overhead power lines.

The money is being mobilised through the Connecting Europe Facility, an allocation of €5 billion over six years to help modernise and decarbonise Europe’s energy infrastructure.

Commission Vice-President for Energy Union Maroš Šefčovič said: "Once more we demonstrate that cooperation and solidarity pays off and that the Energy Union is becoming a reality with tangible impact on the ground. These are important projects with major cross-border benefits and by implementing them we strengthen energy resilience of EU Member States. The Connecting Europe Facility has yet again shown tremendous added value in the modernisation of the European economy."

 

Image Credit: Erlend Ekseth