EU to invest EUR 873 mln euro in energy projects

EU Member States agreed on the European Commission’s proposal Thursday to invest EUR 873 million (USD 1.1 billion) in key European energy infrastructure projects.

Of the 17 projects selected for funding, eight are in the electricity sector and nine in the gas sector, while four relate to construction works and 13 to studies, announced the European Commission in a statement.

Under the Connecting Europe Facility programme, a total of EUR 5 billion (USD 6.2 billion) has been allocated to trans-European energy infrastructure for the period 2014-2020, it noted.

European Commission Vice-President for Energy Union Maros Sefcovic commented that “Energy Union is becoming a reality with tangible impact on the ground.” “These are important projects with major cross-border benefits and by implementing them we strengthen energy resilience of EU Member States,” he added.

Source: Kuwait News Agency