EU calls tender for €4bn fund for new energy infrastructure
Project developers hoping to cash in on nearly EUR4bn of EU funds earmarked for new energy infrastructure have until 15 July to submit their proposals to Brussels, according to a statement from the European Commission. The EU has already published a shortlist of priority projects to build new gas and power interconnections, offshore wind farms and carbon capture and storage (CCS) technology.
The first agreements should be signed with project developers by the end of this year, according to Commission estimates.
If the EU fails to allocate all the money before next March, the unspent funds might be redirected towards alternative projects within the fields of energy efficiency and renewables other than off-shore wind, according to the European Parliament.
This was a last-minute amendment to the recovery package, however, and would be left to the discretion of the Commission.
The Commission launched the call for tender this month, after the EU’s two lawmaking bodies – the Council and the Parliament - reached an agreement on the EU’s recovery package, which includes the energy investment, in early May. The recovery package will provide a EUR2.4bn cash injection to new gas infrastructure. Listed cross-border pipelines include Nabucco in southeastern Europe, Skanled in the Baltic region, Galsi between Italy and Algeria and Larrau between Spain and France.
Major utilities will also be eligible to receive EUR1.05bn to fund CCS pilot plants.
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19 Jun 2013 21:17
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EDEM,ESGM
19 Jun 2013 21:17
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EDEM,ESGM
