EU grants €720m to a new Baltic electric interconnection project
EU Member States have agreed with the European Commission’s proposal to invest €998m from the Connecting Europe Facility (CEF) programme in major European energy infrastructure projects aimed at improving competitiveness, enhancing the EU’s security of energy supply, and promoting safe, secure and efficient network operations.
A large part of the funding (€720m) will be directed to the phase II of the Baltic synchronisation process, covering 75% of the investment costs. The second phase of the project encompasses the construction of the new submarine HDVC link between Lithuania and Poland, also known as Harmony link. In 2018, Poland and the three Baltic countries agreed on the deadline for concluding synchronisation of the Baltic grid by 2025. The technical scenarios were approved by the Baltic Energy Market Interconnection Plan (BEMIP) in 2018. In 2019, the European Commission awarded a €323m grant for the first phase of the project about Baltic synchronisation.
Then Global Energy Market Data & CO2 is your database! We provide world coverage of the oil, gas, coal, and power markets and a detailed overview of national supply & demand with annual data going back to 1970.
This energy database leverages more than 200 official data sources, which are processed by our analysts to provide fully harmonised data sets that are updated monthly.