Clean energy infrastructure gets €750mEuropost
The Commission released last Wednesday €750m of funding for key European energy infrastructure projects with major cross-border benefits. Supporting the construction of necessary infrastructure, contributes to the Commission's energy policy priorities of improving energy security, whilst giving consumers more choice, and spurring economic growth and jobs.
A fully interconnected European network is one of the key preconditions to deliver the ultimate goal of the Energy Union, i.e. to ensure secure, affordable and sustainable energy, which has been one of the top political priorities of the Juncker Commission throughout the mandate. These interconnections are also essential for renewable energy sources to thrive and make Europe world number one in renewable energy.
“Europe's energy system is moving fast from an energy system of last century to a low-carbon, more digital and consumer oriented one. The energy transition is well underway in Europe, with record levels of renewable energy and rapidly falling costs. Europe's energy infrastructure must develop in the same direction and with the same speed to fully support this energy transition towards a climate neutral Europe,” Climate Action Commissioner Miguel Arias Canete said.
The completion of a fully interconnected Internal Energy Market, will allow a cost-efficient de-carbonisation of the energy mix by favouring a better integration of renewable energy and contributing to deliver collectively the EU targets of at least 32% for the share of renewables consumed as well of the at least 40% domestic reduction in greenhouse emissions by 2030 compared to 1990, in line with our international commitments under the Paris agreement.