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Parliamentary question - E-000134/2024(ASW)Parliamentary question

Answer given by Ms Simson on behalf of the European Commission

Projects of common interest (PCIs) can apply for funding under Connecting Europe Facility for Energy (CEF). In the PCI selection, the contribution to sustainability and to energy and climate targets is a decisive criterion.

Of all PCIs, however, only a minority receives CEF funding. The European Climate, Infrastructure and Environment Executive Agency (CINEA) organises calls for proposals for PCIs on a yearly basis.

To receive CEF funding, PCIs need to demonstrate that they deliver on EU priorities such as the energy and climate targets and market integration.

They also need to improve security of supply, solidarity or innovation. Moreover, projects must be sufficiently mature to be implemented in the foreseeable future, and with a credible prospect to secure other funding in addition to CEF.

First, only PCIs can apply, which means that the projects have already been assessed as beneficial and contributing to sustainability. Second, CEF funding is allocated after an objective and transparent process involving external experts.

Third, PCIs need to comply with the relevant environmental acquis, notably on environmental impact assessments and on the protection of natural habitats.

As PCIs are selected based on their contribution to sustainability and to energy and climate targets, they promote a coherent energy transition.

In addition, CEF follows a co-funding logic, meaning that it only covers up to 50% of the proposal’s eligible costs. Therefore, projects typically have to secure other sources, such as funding from the national tariff system to the extent this is affordable for consumers, but also equity and loans from banks.

This co-funding logic ensures that the private sector participates in the financing of the energy transition.

Last updated: 26 February 2024
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