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25.01.2018 16:26
EU Provides Record Funding for a France-Spain Power Link


The European Union is to provide 578 million euros to build a power link between Spain and France to carry excess Spanish renewable energy, Reuters reported.
The grant will be the EU’s largest ever grant for energy infrastructure. Construction of the 370-kilometre Franco-Spanish subsea power cable across the Bay of Biscay, west of the Pyrenees mountain range, will nearly double current power exchange capacity to 5,000 megawatt.
The European Commission wants the links to ease the uptake of renewable energy in both countries, reduce the continent’s dependence on Russian gas and help it meet its climate goals.
“Only a fully interconnected market will improve Europe’s security of supply, ending the dependence of single suppliers and give consumers more choice,” Europe’s Climate Commissioner Miguel Arias Canete has told Reuters. He said the project would help “end the isolation of the Iberian Peninsula” - long a bugbear of Spanish energy executives who complain of France’s reluctance to boost cross-border links.
On an EU scale that aims for each member state to reach at least a 10 percent interconnection level, Spain is currently at 6 percent, according to Commission figures.
The investment is part of a pot of 873 million euros that EU nations agreed to invest in 17 energy infrastructure projects towards the goal of a single energy union in which power and gas would flow freely and be cheaper. It will come out of an EU fund known as the Connecting Europe Facility (CEF).
To address grid bottlenecks in Germany, the EU will give 70 million euros for the start of construction on the SuedOstLink to transport northern wind power to the south of Germany.
Among the gas projects, the EU will grant 101 million euros for the introduction of natural gas in Cyprus and 3.7 million euros for a study on a potential gas link between Malta and Italy.

TAGS: EU | funding | power link | Spain | France | renewable energy | energy infrastructure | capacity | transmission | Miguel Arias Canete | Connecting Europe Facility | CEF | Germany | natural gas | Cyprus | Malta | Italy 

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20.03.2022  Teodor Bobochikov, Managing Partner, V-Ridium
Energy Transformation – Trends and drivers
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