Brussels, 07/07/2009 (Agence Europe) - With its approval, on Tuesday 7 May, of all the amendments adopted by the European Parliament in first reading on 6 May (see EUROPE 9896), the Council adopted a regulation establishing a European programme to aid economic recovery by granting Community financial assistance to energy projects. This regulation is part of the European economic recovery plan endorsed by the European Council in December 2008 in response to the global financial and economic slowdown. The European recovery plan sets the Community contribution for each of the 47 energy projects selected, with a total financial envelope for implementation in 2009 and 2010 of €3,980 million, divided thus: - €1,440 million for 18 gas infrastructure projects; - €910 million for 9 electricity infrastructure projects; - €15 million for two small island projects; - €565 million for five offshore wind energy projects; - €1,050 million for 13 carbon capture and storage projects. For each of these projects, specific proposals - in particular, for implementing the project on the ground - will be submitted to management committees, which will check whether the proposals meet the selection criteria set in the regulation, the most important of which are maturity and lack of access to finance. Given the urgent need for stimulus, all individual legal commitments implementing the budgetary commitments made in 2009 and 2010 will be made by 31 December 2010. The regulation will come into force on the day following publication in the Official Journal of the EU. (E.H./transl.rt)