The funds are being made available through the Connecting Europe Facility (CEF), and will support 51% of a project that will lead to more efficient use of the existing electricity transmission grid in both Slovenia and Croatia, the government said in a statement.
In a separate statement, the European Commission said that the project will enable current infrastructure to cope with the uptake of additional renewable energy and result in greater energy security without the need to build new overhead cables.
The project will be overseen by system operators Eles from Slovenisa as well as HOPS and HEP ODS from Croatia.
EU Member States agree to invest in energy infrastructure
The announcement by the Croatian government coincided with a statement by the European Union, EU Member States agreed on the Commission’s proposal to invest 444 million euro in key European energy infrastructure projects. [E.ON announces participation in European smart grid project]
The funding will be allocated to 18 selected electricity, smart grid and gas projects. These projects will contribute toward achieving the Energy Union’s goals by connecting European energy networks, increasing security of energy supply, and contributing to the sustainable development by integrating renewable energy sources across the EU.
According to a statement, the Energy Union strategy has at its centre the transition to a low-carbon, and secure and competitive economy.
Furthermore, properly interconnected electricity lines and gas pipelines form the backbone of an integrated European energy market. Investing in sustainable and renewable energy sources helps accelerate the energy transformation in Europe and ensures that such a transformation is used for the EU industry to reach a leading position in low-carbon technologies, thereby fostering green growth and jobs – all priorities of the Juncker Commission.
Commission vice-president for Energy Union Maroš Šefčovič said: “I welcome today’s agreement by the Member States. These are important projects with major cross-border implications. They are a tangible sign of what the Energy Union means for Europe and how the European Union can help making our countries stronger by cooperating closely together.”