The European Commission will make up to €550 million available to finance key, cross-border energy infrastructure projects in Europe, as part of a call for project proposals launched on 30 June.
The money will be earmarked for projects which help end the energy isolation of some EU countries, help to clear energy bottlenecks and contribute to completing the internal energy market. It will also help to attract additional finance from private and public investors.
Miguel Arias Cañete, EU Commissioner for Climate Action and Energy, said, "well-connected and reliable energy networks are crucial to build a resilient the Energy Union. This will help ensure secure affordable and sustainable energy for all Europeans and businesses. As a key priority for the Juncker Commission, we have to make European public money support targeted and meaningful investments".
The call, which closes on 30 September 2015, is the second call for proposals under the Connecting Europe Facility (CEF) in 2015 – a total of €650 million in grants is planned for this year. The projects which were selected under the first 2015 call are set to be announced mid-July.
The total EU financing under the CEF is €5.35 billion from 2014-2020 with the first tranche of money - €647 million – being allocated in 2014 to projects including preparatory work on a UK to Norway electricity interconnector, and work on an Estonia to Latvia interconnector.
In order to apply for a grant, a project must be on the Commission's list of 248 'Projects of Common Interest' (PCIs). A decision on the projects selected for funding under this current call for proposals is expected at the end of this year.