Creation date: July 27, 2018
Director of INEA Dirk Beckers signed on 27 July a grant agreement on CEF Energy co-funding for the power line crossing the Bay of Biscay totalling €578 million, in presence of Dominique Ristori, Director-General DG Energy and representatives from the Spanish and the French transmission system operators, both beneficiaries of the grant.
This will be the largest Connecting Europe Facility investment ever awarded to an energy infrastructure project. With 280 kilometres of electricity interconnection, the link will double by 2025 the exchange capacity between France and Spain and bring Spain closer to the 15% interconnection target contained in the new regulation on the governance of the Energy Union.
The signature took place today in the margins of the Energy Interconnecions Summit that was attended by Climate Action and Energy Commissioner Miguel Arias Cañete, as well as high-level politicians from France, Spain and Portugal – notably French president Emmanuel Macron and the Prime Ministers of Spain – Mr Pedro Sánchez, and Portugal – Mr António Costa. In this event, leaders have taken stock of the important progress achieved in better integrating the Iberian Peninsula into the internal energy market and agreed on ways to strengthen the regional cooperation between Spain, France and Portugal.
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