The European Commission will finance the 'Danube Ingrid', a smart electricity grid project in Hungary and the Slovak Republic, in the amount of EUR 102 million.
This project will improve network management and increase the quality and security of supply for all market participants in the two countries. It will also support the efficient integration of renewable energy supplies.
EU Member States agreed earlier this week on a Commission proposal to invest EUR 998 million in key European energy infrastructure projects under the Connecting Europe Facility (CEF).
According to the EU Commissioner for Energy, Kadri Simson, “these ten projects will contribute to a more modern, secure and smart energy infrastructure system, which is crucial for delivering the European Green Deal and meeting our ambitious 2030 climate targets. ... These investments will help sustain the EU's economic recovery and create jobs.”
The allocation of funds is in line with the objectives of the European Green Deal, with 84% of funds going to electricity or smart grid projects. Yesterday's vote grants financial aid for ten projects: two for electricity transmission, one for smart electricity grids, six for CO2 transport (including five studies), and one for gas.
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