The European Commission has approved €980m in funding from the Connecting Europe Facility (CEF) for some European energy infrastructure projects offering major cross-border benefits. The CEF Energy provides funding for energy projects enhancing security of energy supply in the European Union, contributing to sustainable development and CO2 emissions cuts or promoting efficient and secure network operation. Infrastructure projects with the Project of Common Interest (PCI) status may apply for CEF Energy funding for studies or construction works until 27 May 2020.
Over the 2014-2020 period, CEF Energy has a total budget of €4.9bn for trans-European energy infrastructures and has already allocated €3.9bn to PCIs to date. A proposed budget of €8.7bn has been proposed for the CEF Energy over the 2021-2027 period, including a new window for cross-border renewable projects.