Cross-border projects are intended to strengthen energy connectivity across Europe, bringing nearer the completion of the Energy Union. The selected 235 projects will be eligible to apply for EU financing from the Connecting Europe Facility and will benefit from expedited permitting and regulatory processes for swift execution and delivery.
According to a recent study, investment needs in European energy infrastructure will near €1.5tr from 2024 to 2040. That includes electricity, hydrogen, and CO2 networks. This project lineup and the related expected investments volumes will contribute to reaching the needs identified for 2040.
Smart electricity grids in focus
The largest share of the entire package, announced by Commission on Monday, 1December, goes to electricity, offshore and smart electricity grids. 113 such projects will be essential for integrating the growing share of renewables. Second, 100 hydrogen and electrolyser projects which will play a major role in integrating and decarbonising the EU’s energy system.
There are also 17 carbon transport infrastructure projects eligible for financial support—these are intended to advance the development of the market for carbon capture and storage. Last but not least, three smart gas grids projects will help to digitalise and modernise the natural gas network.
These cross-border projects will strengthen energy connectivity across the continent, bringing nearer the completion of the Energy Union. A well-integrated and optimised European energy grid is crucial to accelerate a cost-efficient and clean energy transition.
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All of the above mentioned projects will be given the status of Projects of Common Interest (PCIs) and Projects of Mutual Interest (PMIs). It is the second such list since 2023.
Grids Package, Energy Highways coming soon
The Commission will soon present the European Grids Package to further accelerate the development of the necessary energy infrastructure in Europe. It will also elaborate on the Energy Highways initiative, launched by President von der Leyen in her latest State of the Union address. That will urgently tackle cross-border energy infrastructure bottlenecks, and increase the overall resilience of the EU’s energy system.
Following today’s adoption, the PCI and PMI list will be submitted to the European Parliament and the Council in the form of a Delegated Act for scrutiny. Both co-legislators have two months to either accept or reject the list in full but may not amend it.
