The European Commission (EC) will invest €800m ($910m) 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 Facility. The commission revealed €504m of the package will go towards developing electricity infrastructure and smart grid projects, with €286m devoted to gas and the remaining €9.3m dedicated to research into transport infrastructure. "The EU is committed to supporting a low-carbon future for our citizens through its investments in clean energy, including investing more than EUR 1 billion over five years in projects that support renewables such as wind
The European Commission (EC) will invest €800m ($910m) 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 Facility. The commission revealed €504m of the package will go towards developing electricity infrastructure and smart grid projects, with €286m devoted to gas and the remaining €9.3m dedicated to research into transport infrastructure. A project to connect the electricity markets of continental Europe and the Baltic states will get the largest single portion of the funding, receiving €323m.