Commission releases €550 million for cross-border European energy networks

Today the Commission launches a call for proposals under the Connecting Europe Facility (CEF) to help finance key trans-European energy infrastructure projects. Up to €550 million will be made available for projects which will contribute to develop a resilient Energy Union. Once in place, these projects will contribute to end energy isolation and to eliminate energy bottlenecks that prevent the completion of the European internal energy market. This investment money will act as a catalyst for securing additional financing from private and public investors. With a total amount of €650 million for grants foreseen in 2015, this is the second of the two calls scheduled for this year. The deadline to submit applications is 30 September 2015. A decision on the selection of proposals to be funded is expected at the end of this year. EU Commissioner for Climate Action and Energy Miguel Arias Cañete 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 full press release is available online in EN, FR and DE.