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EU invests €444M in 18 key energy projects


 The European Union will provide €444 million funding support for major energy infrastructure projects in Europe.

As part of this effort, EU intends to grant €176 million funding for seven projects in the electricity sector and €40 million for one smart grid project. The remaining €228 million is for 10 projects in the gas sector, reports EBR.

Energy Union commission vice-president said: "These are important projects with major cross-border implications.

The funding for the project will be made from the Connecting Europe Facility (CEF), the EU's funding support program for infrastructure which will allocate a total of €5.35 billion to trans-European energy infrastructure projects for the period 2014-2020.

Source: EBR