EU FUNDING: CEF to Provide €750 Million for Infrastructure Projects
On 12 May, the European Commission (EC) issued the first call for proposals under the Connecting Europe Facility (CEF) to provide financing for key trans-European energy infrastructure projects. The deadline for submitting proposals is 19 August 2014. The EC will decide on which projects are eligible for the CEF funding by November 2014.
A total of €750 million will be made available for the first priority projects, above all in the natural gas and electricity sectors. Such projects will deal with the security of supply issues and assist in bringing an end to the energy isolation of particular member states. In addition, the projects will facilitate development of the EU-wide internal energy market, as well as the integration of renewable energy sources (RES) to the energy network. The above funding will also fast-track investment in the construction of missing cross-border links by leveraging the necessary private and public funding.
In the period 2014-2020, a total of €5.85 billion has been earmarked for trans-European energy infrastructure…