The European Commission has recently announced the allocation of nearly €1.25bn in grants from the Connecting Europe Facility (CEF) to 41 cross-border energy projects. This funding marks a significant step towards the energy transition, as it includes support for projects related to grid infrastructure, hydrogen, and Carbon Capture, Utilization, and Storage (CCUS). Specifically, a substantial portion of the funding, around €750m, will go towards 8 electricity grid projects, with the Bornholm Energy Island project receiving the largest grant of €645m. This project aims to build a hybrid interconnector in the Baltic Sea to connect Denmark and Germany and integrate a substantial offshore wind capacity. The investment in hydrogen infrastructure is also noteworthy, with over €250m allocated for 21 development studies. Projects such as BarMar-H2med between Spain and France, backbone projects in Italy, Portugal, and Spain, as well as hydrogen corridors in the Baltic region, are set to benefit from this funding. Furthermore, a significant portion of the funding, €250m, will support the construction of 3 CCUS projects and finance 9 preparatory studies. This includes investments in CO2 storage facilities such as the Prinos storage facility in Greece, the North Sea L10 CO2 storage facility in the Netherlands, and the Norne CO2 facility in Denmark. These grants will contribute to advancing the first carbon capture and storage value chain in the South-Eastern Mediterranean region, among other initiatives. Overall, the EU's investment in these energy projects reflects a positive outlook towards enhancing energy infrastructure and fostering sustainability.