TRANS EUROPEAN ENERGY NETWORKS €5.8 BLN

The Council of the European Union has revised the Trans-European Networks for Energy (TEN-E) Regulation, agreed on new rules for cross-border energy infrastructure and pledged over €5.8bn to finance Projects of Common Interest (PCI) in the period 2021-2027 as part of the second Connecting Europe Facility (CEF) scheme. The TEN-E rules governs cross-border energy infrastructure planning and help implement PCIs.

The EU plans to introduce mandatory sustainability criteria for all projects and to end support for new natural gas and oil projects. Dedicated hydrogen assets converted from gas can be used to transport or store a pre-defined blend of hydrogen with gas or biomethane during a transitional period until 31 December 2029, in order to progressively raise the share of renewable gases in the pipelines. The revised TEN-E regulation should focus its support on smart electricity grids and better uptake of renewable and low-carbon gases, including hydrogen. However, projects in the island countries of Malta and Cyprus with PCI status should retain support until those countries are fully connected to the European gas network.

Read more https://wognews.net/