Brussels, 04/03/2010 (Agence Europe) - On Thursday 4 March, the European Commission gave the go-ahead to €2.3 billion in funding for 43 energy projects. These projects aim to strengthen the EU's security of supply. €910 million will go to 12 electricity projects and €1.39 billion to 31 gas project rejects. By co-financing parts of these projects up to 50% the EU contribution will help to lever up to €22 billion of private sector investment. This will be deducted from the €3.98 billion granted under the European recovery plan decided on at the end of 2008 to help fund key European energy projects in 2009 and 2010, threatened by the economic slowdown (EUROPE 9937). On 9 December, the Commission had already given its approval to grant more than €1.5 billion for 15 projects aimed at reducing CO2 emissions created by energy production - six projects involving carbon capture and storage and nine involving wind power at sea (EUROPE 10037).
The electricity and gas infrastructure projects selected reflect the EU's energy priorities, including the need to better interconnect all member states, to make remote regions such as the three Baltic states, Ireland and Malta less isolated, to improve the security of gas supply, to support projects for reverse flow in 9 member states, and to diversify gas imports via the Nabucco and Galsi pipelines. As well as improving the EU's energy security, these investments will help create jobs and support SMEs in the construction and services sectors. In a press release, Commissioner for Energy Günther Oettinger stated: “Never before has the Commission agreed such an important amount for energy projects. We have selected key projects which will help create a more integrated energy network in Europe ensuring flexible energy flows across member states' borders. Europe's energy and climate objectives require large and risky infrastructure investments with long pay-back times. The problem is that, in today's economic climate, such projects risk to be delayed. This is a moment where Europe can play an important role in keeping these projects on track".
José Manuel Barroso, President of the European Commission, said: "Under the EU's Recovery Plan we finance 'smart investment' - a short-term stimulus targeted on long-term goals. Investing in key infrastructure will not only give a push to the economy and employment, but it will also help ensure that citizens' homes will have heating and electricity, even in the event of supply disruptions. We have learnt the lessons of the recent gas crisis which is one of the reasons why we decided to allocate major financial assistance to new energy infrastructure projects". The Commission will present a report to the European Council in March 2010.
For the 43 projects selected in the electricity and gas sector, €2.3 billion will be distributed in the following way: - gas interconnection: €200 million to Germany, Austria, Bulgaria, Hungary and Romania through the Nabucco pipeline; €100 million to Greece and Italy for the Poséidon interconnection (ITGI project linking them to Turkey); €100 million to Denmark and €50 million to Poland for the Skanled project; €80 million to Poland for the NLG terminal in Œwinoujœcie; €30 million to Hungary and Slovakia for the Vel'ký Krtiš/Vecsés interconnection; €40 million to Slovenia for the transmission system at the border with Austria; €45 million for Bulgaria, Greece and Italy for the Stara Zagora/Dimitrovgrad/ Komotini interconnection; €16.60 million for the Hungarian and Romanian interconnection between the two countries; €35 million to the Czech Republic for expanding the Czech platform's gas storage capacity; €20 million to Hungary for its interconnection with Croatia; €8.92 million to Bulgaria and Romania to the interconnection between the two countries; €175.76 million to France for strengthening the French network in the France/Spain/Africa axis; €120 million to Italy for the Galsi pipeline, linking it with Algeria; €45 million to Spain for the West interconnection axis at Larrau; €35 million to Belgium for the Germany/Belgium/United Kingdom pipeline; €200 million to Belgium and France for interconnection between them; - gas flow inversion projects for short supply cuts: €8.26 million to Austria; €8.07 million to Hungary; €12.94 million to Latvia; €14.40 million to Poland; €10.7 million to Portugal; €5.97 to the Czech Republic; €1.56 million to Romania; €3.6 million to Slovakia; €14 million to Poland and the Czech Republic; - electricity interconnections: €100 million to Finland and Estonia for the Estlink; €131 million to Sweden, Lithuania and Latvia plus €44 million to Latvia for the interconnection between Sweden and the Baltic countries and for strengthening the Baltic network; €100 million to Germany for the interconnection at Halle-Saale/Schweinfurt; €12.98 million to Austria and Hungary for the interconnection at Vienna/Györ; €50 million the to strengthening its interconnection; €225 million to Spain and France for the Baixas/Sta Llogaia interconnection; €110 million to Italy for the new undersea cable between Sicily and mainland Italy; €110 million for Ireland for its interconnection with the United Kingdom via Wales; €20 million to Italy and Malta for their interconnection; - small energy islands: €10 million to Malta and €5 million to Cyprus. (E.H./transl.fl)