- Category: Business
19 May 2009
- Published on Tuesday, 19 May 2009 07:50
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first grant agreements before the year ends. Image sourced from STOCKXPERT.
The European Commission yesterday announced a call for proposals for energy infrastructure projects, for which it will invest up to almost €4 billion, with €565 million of this to go to offshore wind energy.
The investment is part of the EU’s European Energy Programme for Recovery, which is designed to reinforce the bloc’s energy supply as a response to the financial crisis. The recovery program was proposed in November, 2008.
Of the €4 billion commitment, nearly €2.4 billion will go to gas and fossil-based electricity infrastructure projects, while carbon capture and storage projects will get €1.05 billion in investments.
The commission called on project promoters to submit proposals by July 15, 2009, and said it expects to sign the first grant agreements before the year ends.
"The financing that has been made available will act as a role to secure and speed up investments in the energy sector. In addition, the funds allocated to projects will have a direct impact on the EU economy and on employment,” Energy Commissioner Andris Piebalgs said.
Investments in offshore wind will go to two kinds of projects: grid integration of offshore wind energy and new turbines, structures, and components. It will also fund projects for the “optimization” of manufacturing capacities.
Grid interconnection projects are planned for the Baltic-Kriegers Flak I, II, and III serving Denmark, Sweden, Germany, and Poland.
For CCS, 12 coal-fired power plants are planned to be applied with capture techniques.
- Eric Dorente