Daniel X. O'Neil via flickr
The grant will be the largest allocated to the energy infrastructure in the EU. The construction of a 370-kilometer French-Spanish underwater power cable through the Bay of Biscay to the west of the Pyrenees mountain range will almost double the current capacity of energy exchange to 5,000 megawatts.
The European Commission wants this telecommunications line to facilitate the development of renewable energy sources in both countries, reduce the continent's dependence on Russian gas and help it achieve its climate goals.
"Only a fully interconnected market will improve security of supply in Europe, stop dependence on individual suppliers and give consumers more choice," Climate Commissioner Miguel Arias Cañete told Reuters.
He said the project would help "stop the isolation of the Iberian Peninsula," because Spanish energy executives complained about France's reluctance to increase cross-border communications.
The investments are part of the sum of 873 million euros, which the EU countries agreed to invest in 17 energy infrastructure projects in order to unite the energy union within which gas and energy will move more freely, and they will be cheaper.
source: reuters.com
The European Commission wants this telecommunications line to facilitate the development of renewable energy sources in both countries, reduce the continent's dependence on Russian gas and help it achieve its climate goals.
"Only a fully interconnected market will improve security of supply in Europe, stop dependence on individual suppliers and give consumers more choice," Climate Commissioner Miguel Arias Cañete told Reuters.
He said the project would help "stop the isolation of the Iberian Peninsula," because Spanish energy executives complained about France's reluctance to increase cross-border communications.
The investments are part of the sum of 873 million euros, which the EU countries agreed to invest in 17 energy infrastructure projects in order to unite the energy union within which gas and energy will move more freely, and they will be cheaper.
source: reuters.com
