EU invests €263m in energy infrastructures

EU invests €263m in energy infrastructures

The EU has announced an investment worth €263 million (£218.2m) in energy infrastructures.

A total of nine projects will receive a share of the fund which aim to increase energy security, connect isolated EU Member States to the wider European grid and contribute to the Energy Union goals of affordable, secure and sustainable energy.

A total of €210 million (£174.3m) will be granted to five projects in the gas sector and €53 million (£43.9m) will be provided to four schemes in the power industry.

The money will fund the construction of a gas interconnector in the Baltic Sea which will link Estonia and Finland.

It will also support the construction of a 100km electricity line between Dobrudja and Burgas in Bulgaria that will strengthen the resilience of the nation’s electricity grid, among other projects.

Miguel Arias Cañete, European Commissioner for Climate Action and Energy said: “Well-connected energy infrastructure is essential to achieving the Energy Union. This EU support will help fill existing gaps in energy infrastructure, putting us on the path to a truly connected European energy market. This is necessary to strengthen the security of energy supply and a more efficient use of the energy resources and integration of renewables into the grid.”