The European Commission chose this Monday, 1, two electricity and hydrogen corridors covering Portugal as projects of common and mutual interest to receive support from the European Union (EU).
“Today, the Commission granted 235 cross-border energy projects the status of Projects of Common Interest and Projects of Mutual Interest – the second list of its kind since its launch in 2023. The selected projects will be eligible for EU funding through the Connecting Europe Facility and will benefit from accelerated licensing and regulatory processes for faster execution and delivery,” the institution announces in a statement.
The list in question includes two Portuguese projects: one relating to electrical interconnection between Portugal and Spain (passing through Ponte de Lima, Vila Nova de Famalicão, Beariz and Fontefría) and another hydrogen interconnection between Portugal, Spain, France and Germany (namely an internal hydrogen infrastructure in Portugal and a hydrogen interconnector between Portugal and Spain and other connections).
“These projects will strengthen energy connectivity across the continent, bringing the completion of the Energy Union closer. By enabling vital interconnections across the EU and with neighboring countries, these projects can play a strategic role in increasing the EU’s competitiveness, decarbonization and strengthening Europe’s energy security and independence”, highlights the European Commission.
Data from Brussels reveal that investment needs in European energy infrastructure – electricity, hydrogen and carbon dioxide networks – will approach 1.5 trillion euros between 2024 and 2040.
“This set of projects and the expected investment volumes will contribute to meeting the needs identified for 2040”, notes the institution.
With the distinction now given, Brussels is committed to supporting the implementation of these projects through reinforced political coordination with the Member States involved, with European working groups and with regional partnerships.
This month, a European Networks Package is planned to be presented, aimed at accelerating the development of the necessary energy infrastructure in Europe, which also includes the Energy Highways project to urgently resolve bottlenecks in cross-border energy infrastructure and increase the overall resilience of the EU energy system.
According to the European Commission, these energy highways include electrical interconnections in the Pyrenees to better integrate the Iberian Peninsula, as well as a southwest hydrogen corridor to take decarbonized hydrogen from the production site to where the industry needs it.
Following today’s adoption, the list will be submitted to the European Parliament and the Council of the EU.
These projects rely on funds from the Connecting Europe Mechanism, which since 2014 has allocated around eight billion euros to emblematic projects and which has a planned budget of almost 30 billion euros in the next Multiannual Financial Framework 2028-2034.