€45 million from the Cohesion Fund is invested to upscale the production of electricity from water and wind on the island of Madeira, an autonomous region of Portugal and one of the EU’s nine Outermost regions.
The projects awarded the EU funding are expected to develop or demonstrate technology for renewable energy sources and bring it closer to the market. They will receive over €140 million to carry out their work plans after signing grant agreements with INEA, for which they have time until mid-October 2018. More details about the funded projects will be announced after the grant agreements are signed. The projects are expected to be launched by the end of the year.
The start of Balticconnector’s construction phase was celebrated on 8th of June 2018 in Inkoo, Finland on the compressor station worksite with a groundbreaking ceremony. The European Commission Vice-President for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen, the Minister of the Environment, Energy and Housing of Finland, Kimmo Tiilikainen, and the Minister of Economic Affairs and Infrastructure of Estonia, Kadri Simson, attended the event.
The European Commission is releasing today €500 million of funding for cross-border energy infrastructure. The projects will strengthen the EU’s internal energy market, enhance security of energy supply, and help provide clean, sustainable energy for Europe. The 2018-2 CEF Energy call for proposals (CEF-Energy-2018-2) under the Connecting Europe Facility (CEF-Energy) will be open until 11 October 2018.
The Council today agreed its position (general approach) on a regulation to update the role of ACER, the EU Agency for the Cooperation of Energy Regulators. The agreement provides the Presidency with a mandate to start negotiations with the European Parliament.
Participants in a hearing on sustainable finance, organised by the EESC on 5 June 2018 in Brussels, explain how to move forward in order to redirect capital flows towards more sustainable investment projects.
For the next long-term EU budget 2021-2027, the Commission is proposing €100 billion for research and innovation.