EU to phase out carbon energy funding by 2030

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