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EU Commission, €4 bln for energy investments

The European Commission has launched today a call for proposals covering key energy infrastructure projects such as energy interconnections, offshore wind energy and carbon capture and storage as part of the implementation of the European Energy Programme for Recovery (EEPR), on which the Council and the Parliament recently reached agreement. Project promoters are invited to submit their proposals by 15 July 2009. The Commission expects to sign the first grant agreements and decisions before the end of the year. In total nearly €4 billion worth of financial aid will be available to support new energy-related investments.

Energy Commissioner Andris Piebalgs said that “The financing that has been made available will act as a role to secure and speed up investments in the energy sector. In addition, the funds allocated to projects will have a direct impact on the EU economy and on employment.”

“It will also help to improve the security of supply of the most vulnerable Member States. The gas crisis earlier this year showed the vulnerability of Europe with respect to its gas supply. In addition this funding will assist in speeding up the implementation of the 20/20/20 objectives for 2020 by promoting for the first time on a large scale the development of Carbon Capture Storage technologies and the implementation of high power wind turbines.”

The EU funding available for the implementation of the EEPR for 2009 and 2010 will be €3.98 billion, allocated in three different fields: gas and electricity infrastructure projects (€2.365 billion), offshore wind energy projects (€565 million) and carbon capture and storage projects (€1.050 billion).

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This entry was posted on May 19, 2009 by in News, Technology and tagged , .
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