EU to phase out carbon energy funding by 2030Reading Time: < 1 minutes
The EU is rewriting its energy infrastructure investment rules to fully align them with its Green Deal programme. The three main arms of the EU – the European Council, European Parliament and European Commission – have revised the “TEN-E” framework and are set to agree on the removal of funding of oil and gas infrastructure projects by 2030.
The TEN-E regulation, adopted in 2013, “enhances the physical integration of the internal energy market by identifying the missing infrastructure links and providing tools to speed-up their implementation,” according to the EU. From next year, new projects will be assessed on sustainability, and the revamped TEN-E framework will support offshore grids, smart power grids and hydrogen networks. The new rules will also enable the fast-tracking of permits.
EU green energy czar Frans Timmermans announced the revision of the TEN-E rules to facilitate the EU’s energy transition one year ago. The EU’s Council and Parliament will now have to vote through the revised framework.
Source: Offshore Wind