EU energy infrastructure gets upgrade

BRUSSELS, January 19, 2016 – EU member states agreed to invest €217 million in energy infrastructure for critical projects across the continent Tuesday.

Around €207 million will be devoted to nine projects in the gas sector while another six projects will invest €10 million for developments in the energy sector. Two construction projects are receiving €188 million. The majority of the funds will be earmarked for 15 specific developments in Central and Southeastern Europe.

“Today, we are targeting those regions in Europe which need it the most. With this funding we will help secure supplies and fully integrate Europe’s energy market by connecting networks across Europe. Modern energy networks are crucial to ensuring efficient use of our energy resources and therefore key to reaching our climate goals,” European Commissioner for Climate Action and Energy Miguel Arias Cañete said.

A total of €5.35 billion has been earmarked for EU energy infrastructure development from 2014-2020 by the Connecting Europe Facility.