On Thursday, EU member states agreed on a proposal from the Commission to invest 998 million euros in key European energy infrastructure projects under the Connecting Europe Facility (CEF) program.
The largest amount of funding goes to the Baltic Synchronization Project (720 million euros), aimed at better integration of the electricity markets of Estonia, Latvia, Lithuania and Poland. Other projects include a smart grid connecting Hungary and Slovakia (€ 102 million) and the first-ever CEF grant to work on a CO 2 transportation project for Belgian and Dutch ports.
“These ten projects will contribute to a more modern, safer and smarter energy infrastructure system that is critical to realizing Europe's Green Deal and achieving our ambitious climate targets by 2030,” said the EU Energy Commissioner Kadri Simson.
The disbursements are in line with the objectives of the European Green Agreement, with 84% of the funds going to electricity or smart grid projects.
