CINEA Receives €4 Billion in Funding Requests for Cross-Border Infrastructure Projects
Key Ideas
- 74 project proposals totaling €4 billion in funding have been submitted to CINEA for cross-border infrastructure projects under CEF Energy.
- The proposals cover electricity, smart grids, gas, hydrogen, and cross-border CO2 networks, aiming to support the deployment of trans-European networks in the energy sector.
- Evaluation of the proposals is expected to be completed by February 2025, with a focus on selecting projects that enhance security of supply, integrate renewable energy, and align with the European Green Deal and REPowerEU Plan.
- CEF funds allocation supports the goal to make Europe independent from Russian fossil fuels by 2030 and contributes to building well-integrated energy infrastructure networks for the energy transition.
The Innovation and Networks Executive Agency (CINEA) has received an impressive 74 project proposals requesting a substantial €4 billion in funding for cross-border infrastructure projects under the Connecting Europe Facility for Energy (CEF Energy). These proposals, spanning across 18 countries, cover a wide array of sectors including electricity, smart grids, gas, hydrogen, and cross-border CO2 networks. The calls, with a total budget of €850 million, aim to support works and studies that enable the implementation of Projects of Common Interest (PCIs) and Projects of Mutual Interest (PMIs) within the framework of trans-European energy networks.
Of the proposals received, 17 are for works involving the purchase, supply, and deployment of components and systems, as well as construction and installation activities related to PCIs or PMIs. Additionally, 57 proposals are for studies essential in preparing for the implementation of PCIs or PMIs, such as feasibility, mapping, and evaluation studies.
The evaluation process of these proposals is ongoing, with the expectation of completion by February 2025. The focus lies on selecting projects that contribute to building well-integrated energy infrastructure networks crucial for the ongoing energy transition. These projects aim to facilitate the integration of renewable energy sources, enhance security of energy supply, and help regulate energy prices.
Furthermore, the allocation of CEF funds aligns with the goals of the European Green Deal and the REPowerEU Plan, which aims to ensure Europe's independence from Russian fossil fuels by 2030. This funding support plays a vital role in advancing the transition towards a more sustainable and secure energy landscape in Europe.
Topics
Projects
Renewable Energy
Energy Transition
European Green Deal
European Union
Infrastructure Projects
CEF Energy
REPowerEU Plan
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