The European Parliament has approved new rules for selecting which energy projects can receive EU funding and aligning the existing regulation with the EU’s Green Deal.
The legislation, agreed upon with Council in December 2021, sets criteria and the methodology for choosing energy projects of common interest (PCIs), such as high-voltage transmission lines, energy storage facilities and smart grids, which would benefit from fast-track administrative procedures and be eligible to receive EU funds.
During negotiations, MEPs supported the inclusion of the funding of projects related to the development of hydrogen infrastructure and carbon capture and storage.
The selected projects should help EU countries move away from solid fossil fuels such as coal, lignite, peat and oil shale.
MEPs secured funding for projects that repurpose existing natural gas infrastructure for hydrogen transport or storage during a transitional period.
Projects of this nature will be eligible to receive EU financial assistance until 31 December 2027.
New projects based on natural gas will no longer be eligible for EU funding, though a temporary derogation will allow Cyprus and Malta to have one hydrogen-ready gas project each.
Lead MEP (ECR, Poland) Zdzisław Krasnodebski said: “Today’s tragic reality of war in Europe and the European Union’s dramatically low level of energy security proves that, for years, the EU has made serious mistakes in assessing its needs, including in terms of trans-European energy infrastructure.”
“We are not only improving the infrastructure planning process, but also pushing for new types of projects of common interest, in line with the climate objectives.
“The revised TEN-E framework will encourage investments in hydrogen and CO2 networks, as well as offshore grid development.”
The text was approved by Parliament with 410 votes to 146, and 72 abstentions. It will now have to be formally adopted by Council before publication in the Official Journal and subsequent entry into force.