{"id":7280,"date":"2020-10-02T15:52:50","date_gmt":"2020-10-02T14:52:50","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=7280"},"modified":"2021-03-30T14:50:51","modified_gmt":"2021-03-30T13:50:51","slug":"member-states-commit-to-e998m-investment-in-energy-infrastructure","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/member-states-commit-to-e998m-investment-in-energy-infrastructure\/7280\/","title":{"rendered":"Member States commit to \u20ac998m investment in energy infrastructure"},"content":{"rendered":"
The largest portion of the funding will be allocated to the Baltic Synchronisation Project. The European Commission will invest \u20ac720m towards bettering the integration of energy infrastructures in Estonia, Latvia, Lithuania, and Poland.<\/p>\n
Kadri Simson, Commissioner for Energy, said: \u201cThese ten projects will contribute to a more modern, secure and smart energy infrastructure system, which is crucial for delivering the European Green Deal and meeting our ambitious 2030 climate targets<\/a>.<\/p>\n \u201cYesterday’s decision marks a decisive step in the Baltic Synchronisation process in particular, a project of European strategic interest. These investments will help sustain the EU’s economic recovery and create jobs.\u201d<\/p>\n Addition funding, worth \u20ac102m, will be used to create a smart energy infrastructure linking Hungary and Slovakia. The grant will also improve network management and increase the quality and security of supply for all market participants. It will also support the efficient integration of renewables.<\/p>\n A further \u20ac102m will be invested into the Porthos CO2 <\/sub>transport network project. This project between the Netherlands and Belgium will develop an open access CO2<\/sub> transport network in three of Europe’s main ports (Rotterdam, Antwerp, and North Sea Port) leading to an offshore storage site in the North Sea.<\/p>\n \u20ac28m of the \u20ac998m energy infrastructure funding scheme will improve security of supply and diversification of gas imports in Southeast Europe under the CESEC High-Level Group. The remaining \u20ac14m will support the North Sea Wind Power Hub to support the development of offshore wind in the North Sea.<\/p>\n