TenneT Holding B.V. and the EIB today closed the issuance of EUR 100 million hybrid capital by TenneT (rated A3/A-). EIB has purchased EUR 100 million hybrid securities to be consolidated and form a single series with TenneT’s hybrid Securities programme launched on 12 April 2017.
In a ruling published on 10 August, the World Trade Organisation rejected most of Russia’s claims concerning the alleged incompatibility of the EU’s energy policy measures with the multilateral trade rules.
The Department for Business, Energy and Industrial Strategy (‘BEIS’) has today (Monday 30th July 2018) announced that AQUIND Interconnector is to be treated as a Nationally Significant Infrastructure Project.
The European Commission has found the planned Greek mechanism to remunerate flexible electricity capacity to be in line with EU State aid rules.e
The declaration aims to strengthen regional cooperation in the framework of the Energy Union and better integrate the Iberian Peninsula into the internal energy market. The Lisbon declaration builds on the Madrid Declaration from March 2015 which launched the integration process.
Director of INEA Dirk Beckers signed today a grant agreement on CEF Energy co-funding for the power line crossing the Bay of Biscay totalling €578 million, in presence of Dominique Ristori, Director-General DG Energy and representatives from the Spanish and the French transmission system operators, both beneficiaries of the grant.
EIB Vice-President Navarro joins the meeting with Prime Minister Costa, President Macron, President Sánchez and EC Commissioner Arias-Cañete to boost the development of energy interconnections in South-West Europe. Over the last ten years, the EIB has provided more than EUR 3.6 billion to foster priority electricity and natural gas networks in Portugal, Spain and France.
A Naftogaz press release earlier this week reported that the supervisory boards of Naftogaz and of Mahistralny Gazoprovody Ukrainy (MGU) had agreed on a Memorandum of Understanding concerning the unbundling of gas transmission in Ukraine.
Today, the Secretariat sent an Opening Letter to the Republic of Serbia in Case ECS-13/17. The Secretariat takes the preliminary view that by the continuous failure to ensure unrestricted non-discriminatory third party access to the Horgoš interconnection point on the border between Serbia and Hungary, the Republic of Serbia fails to comply with the obligations under the Energy Community acquis for ensuring non-discriminatory third party access to the natural gas transmission system.
Commissioner Miguel Arias Cañete said: “This summit will showcase the commitment of the Juncker Commission to get the hardware of the Energy Union built on the ground and make a difference. A solid and resilient energy infrastructure is also essential to encourage regional action in new areas, such as renewables and energy efficiency. This will help us deliver on our Paris Agreement commitments. I am particularly pleased by the signing of a grant agreement for the power line crossing the Bay of Biscay, the largest investment in energy infrastructure under Connecting Europe Facility ever awarded. It is good for Spain and Portugal, good for France, and good for Europe”.
This Friday, the Prime Minister of Portugal António Costa, the President of France Emmanuel Macron and the President of the Government of Spain Pedro Sanchez will meet in Lisbon to strengthen their regional cooperation in the framework of the Energy Union.
The EIB will provide EUR 650m for a project entailing total investment of around EUR 1.5bn. The dams will support the growth of electricity generation from renewables and increase the security of electricity supply on the Iberian market. The project will require employing up to 13,500 people during the entire construction phase and several hundred in operational phase.