The European Commission ( EC ) will invest € 800 m ( $ 910 m ) in the development of renewable energy infrastructure projects . The funding , which has been approved by the EU 's member states , will come from the pan - European investment fund the Connecting Europe Fund . The commission specified the funds will finance projects that were selected through a call for proposals that ran from June to October. The commission revealed € 504 m of the package will go towards developing electricity infrastructure and smart grid ##s , with € 286 m devoted to gas and the remaining € 9.3 m dedicated to research into transport infrastructure . A project to connect the energy markets of continental Europe and the Baltic states will get the largest single portion of the funding , receiving € 323 m .
The European Commission ( EC ) will invest € 800 m ( $ 910 m ) in the development of renewable energy infrastructure projects . The funding , which has been approved by the EU 's member states , will come from the pan - European investment fund the Connecting Europe Fund . The commission revealed € 504 m of the package will go towards developing electricity infrastructure and smart grid ##s , with € 286 m devoted to gas and the remaining € 9.3 m dedicated to research into transport infrastructure . A project to connect the energy markets of continental Europe and the Baltic states will get the largest single portion of the funding , receiving € 323 m .