The European Union is rolling out a new funding initiative to boost major energy infrastructure projects, prioritizing hydrogen, and carbon capture. With up to €600 million allocated from the budget, the European Commission aims to strengthen cross-border connections to enhance energy security and market integration across the region. Managed by the Climate, Infrastructure, and Environment Executive Agency (CINEA), the funding is open to Projects of Common Interest (PCIs) and Projects of Mutual Interest (PMIs) that link energy networks within the EU and beyond. Regulatory perks and grants are provided to selected projects under the EU's Trans-European Network for Energy (TEN-E) Regulation. The recent funding round of over €1.2 billion supports various projects, including CO2 storage sites and electricity grid upgrades, in line with the EU's push towards carbon neutrality and market integration. This initiative highlights the EU's commitment to fortifying Europe's energy grid for stability amidst evolving supply chains and heightened climate ambitions.