EU endorses 235 cross-border energy projects to scale up electricity, hydrogen, and CO2 infrastructure

As investment needs are anticipated to hover around €1.5 trillion by 2040, the European Commission (EC) has adopted a new list of 235 cross-border energy projects, granting them the status of projects of common interest (PCIs) and projects of mutual interest (PMIs).

This step is set to unlock access to the European Union (EU) funding through the Connecting Europe Facility (CEF) and streamline permitting processes, supporting the rapid deployment of critical energy infrastructure, according to Gas Infrastructure Europe (GIE), an association representing the interests of European gas infrastructure operators.

Europe’s latest attempt to accelerate energy connectivity, with hydrogen and CO2 infrastructure taking the lead in the latest package of 235 cross-border energy projects, which won the European Commission’s support, allowing them to get the status of PCIs and PMIs, follows a recent EC study that pinpointed investment needs in European energy infrastructure, such as electricity, hydrogen, and CO2 networks, would near €1.5 trillion from 2024 to 2040.