In March 2009 the EU set aside €3.98 billion to assist European economic recovery (European Economic Recovery Plan – EERP), which is the largest amount the EU has ever spent on energy infrastructure. The first wave of energy projects (Carbon Capture and Offshore Wind) were selected in December 2009.

This week, the European Commission (EC) selected the second wave of energy projects, aimed to contribute to the economic recovery in the EU, while increasing security of energy supply by creating cross-border infrastructure. The EC granted 2.3 billion euro to 43 projects:

- 31 gas (1.39 billion euro);

- 12 electricity (0.91 billion euro).

The EC selected major investment projects, which were at risk of major delay because of the economic slowdown. By co-financing parts of these projects up to 50%, the EU contribution will help to lever up to 22 billion euro of private sector investment

The electricity and gas infrastructure projects selected reflect the energy priorities of the EU. These include the need to better interconnect all EU Member States and to reduce the isolation of remoter parts, such as the three Baltic States, Ireland and Malta. They also confirm the need for greater security of gas supplies by supporting projects for reverse flow in 9 Member States and the Nabucco and Galsi projects to diversify gas imports.

These investments will help stimulate employment and ensure the survival of many small businesses in the construction and services industries. They will make energy supplies more reliable for millions of people especially in the event of a supply crisis.

Please click here, to access the List of grants to be financed by the 2009-2010 budget for the sector of Gas and Electricity infrastructure projects.