The EU boosts energy competitiveness with a historic investment of €1.250 billion in cross-border infrastructure

La European Commission has taken a significant step towards strengthening the energy union by allocating close to 1.250 millones de euros in subsidies of the Connecting Europe Facility (CEF) to finance 41 cross-border energy projects. This investment, which exceeds the initial budget planned, focuses on projects considered to be of common and mutual interest within the revised policy framework of the trans-European energy networks (TEN-E).

The Draghi report highlights that these investments are essential to ensure European competitiveness, contributing to the Community objectives of integrating the energy markets and reduce emissions. In total, five proposals for works and 36 studies will be funded, with an estimated allocation of 750 millones de euros to eight projects related to maritime and smart electricity networks.

Among the most notable projects is the Bornholm Energy Island, which will receive a record grant of 645 millones de euros to develop an innovative hybrid interconnector between Denmark and Germany. This project will allow up to 3 GW from offshore wind farms to be integrated into the Baltic Sea. Likewise, the project Danube InGrid will have almost 33 millones de euros to improve smart electrical infrastructure between Hungary and Slovakia.

In addition, hydrogen-related infrastructure will receive more than 250 millones de euros aimed at 21 key studies for its development, covering countries such as Germany, Spain and France. The BarMar-H2med project is one of the prominent beneficiaries in this field.

As regards CO2 storage and capture, funds worth close to 250 million euros have been allocated, including a significant contribution to the Prinos facility in Greece and other relevant projects in Denmark and the Netherlands.

Following a thorough evaluation by the CEF Coordinating Committee on 28 January, Member States have voted in favour of this financial proposal. The final award is expected to be formalised in the coming weeks through agreements managed by the European Executive Agency CINEA.

The next call for new proposals under the CEF Energy programme is planned for 2025, underlining Europe's continued commitment to a sustainable and competitive energy future.