EU to Allocate Funding to Two Energy Infrastructure Projects in Bulgaria, Investors
EU member states approved on Tuesday the proposal of the European Commission (EC) to allocate EUR 150 M to twenty key trans-European energy infrastructure projects.
Among the projects selected for receiving financial assistance under the first Connecting Europe Facility (CEF) Energy 2015 call for proposals are two Bulgarian ones.
The two projects concern the construction of a new 400 kV overhead transmission line (OHTL) between Maritsa East and Burgas and the conduct of 3D seismic surveys as a part of the Chiren underground gas storage (UGS) expansion project 6.20.2.
The internal transmission line between Maritsa East and Burgas is part of a cluster of four lines increasing the connectivity between Bulgaria and Greece.
The maximum financial assistance that the two projects are eligible to receive is respectively BGN 29 M for the overhead transmission line and BGN 3.9 M for the 3D seismic survey.
The majority of the funding will be allocated to projects in Central Eastern, South Eastern Europe and the Baltic region.
The selected projects are aimed at increasing energy security and reducing the isolation of member states from EU-wide energy networks.
They will also contribute to the completion of a European energy market and the integration of renewable energy sources into the electricity grid.
European Commissioner for Climate Action and Energy Miguel Arias Canete said on Tuesday that the completion of a truly competitive EU-wide energy market was an important step towards achieving Energy Union.
The projects will also enhance the security of supply and improve market integration through the diversification of sources and routes.
Out of the twenty projects, 17 relate to studies, such as environmental impact assessments, while three involve construction works.
There is a balance between the electricity and gas sectors, with eleven of the selected projects in the gas sector and nine in the electricity one.
Later in July, the EC will formally adopt the list of proposals selected to receive funding under the EU funding programme for infrastructure.
The CEF foresees the allocation of EUR 5.35 B to trans-European energy infrastructure for the 2014-2020 period.