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Wednesday, December 9, 2009

Over €1,5bn for 15 environmental projects in Europe

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News The Commission approved today 15 energy projects including off-shore wind projects which will significantly contribute to the economic recovery of the EU. These initiatives will increase our security of energy supply and substantially reduce CO2 emissions. €1 billion will thus go to six Carbon Capture and Storage projects and €565 million to nine offshore wind energy projects.

By promoting the technology of Carbon Capture and Storage (CCS) the Commission recognises the continued importance of fossil fuelled power and the need to adapt to a low carbon energy system. The offshore wind energy projects enhance the development and consolidation of a competitive offshore wind industry in Europe and create numerous green jobs. These award winning innovative energy technology projects will contribute in reaching the binding targets of greenhouse gas emission reduction and renewables by 2020 and beyond. The decision on these 15 projects is the first step towards the good use of almost €4 billion set aside by the EU in May 2009 for energy projects to support economic recovery. The landmark agreement on the European Energy Programme for Recovery in May foresaw Union financial assistance to energy projects in the fields of CCS, offshore wind energy and gas and electricity infrastructure. The procedures for the infrastructure projects are still ongoing. The decision is expected to be taken in February 2010.

Source :  European Commission - Press Room

More information  European Commission - Press Room




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