Sat, May 26 2012

EC releases 2.3B euro for energy projects

Thu, Mar 04 2010 14:33 CET 1515 Views 1 Comment
EC releases 2.3B euro for energy projects

Photo: Cheryl Ravelo

The European Commission allocated 2.3 billion euro for the energy sector, mainly for gas and electricity projects, the EC said in a media statement.

The sum is meant for a total of 32 gas and 12 electricity projects in the EU over the next twelve months. Bulgaria will be among those to benefit with the support of projects for reverse flow and the Nabucco project to diversify gas imports.

Three projects involving Bulgaria were approved by the Commission: Nabucco would receive up to 200 million euro; the project to link Bulgarian and Greek gas grids was allocated up to 45 million euro; and a similar interconnection plan with Romania was given up to 8.9 million euro.

"I discussed the issue with President [Georgi] Purvanov about some ideas he has and we have agreed to remain in touch also through the services of the Commission and the Bulgarian authorities," European Commission President Jose Manuel Barroso said on February 24 in Brussels in relation to the energy investment plan.

At the Brussels meeting, Barosso and Purvanov had discussed how the bloc's 2020 development strategy could be applied to Bulgaria.

"We have specifically discussed energy security and solidarity where I believe Bulgaria has an important contribution to give also to the European Union," Barroso said.

The gas projects are a priority for the EC. Reportedly, there is a total of four billion euro surplus in the EC budget, money which the commission wants to implement in order to "stimulate the economy and create new jobs" the report says.

In December 2009, one billion euro was released for pioneering projects, for the conservation of harmful emission and their storage underground, while 565 million euro were given for wind parks.

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Comments

Anonymous BG Thu, Mar 04 2010 15:54 CET

Does the EU subsidize eco friendly electrical plants to electrical businesses? I don't understand where those funds are going..


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