On 14 June 2016, the European Commission released a factsheet on the Investment Plan for Europe and Energy. Eighteen months after President Jean-Claude Juncker launched the Investment Plan for Europe, and a year after the start of the European Fund for Strategic Investments (EFSI), the Commission takes stock of achievements to date.
The factsheet shows that in the energy efficiency, renewables, and smart grids sectors, the Investment Plan for Europe is driving the Commission's goal of building an Energy Union forward, with 24 financed projects and 29% of the available funding channelled into the energy sector. These projects are helping to achieve a carbon-free electricity sector. By 2030 half of all Europe's electricity will be powered by renewables and it will be carbon-free in about 35 years. From renovating buildings to make them energy efficient in France, to a new onshore wind farm in Sweden, 11 Member States have received support for sustainable, low-carbon projects which are in line with the EU's energy and climate goals. An additional €16.9 billion in investment is expected in sustainable and low-carbon energy projects over the coming years.
The Investment plan for Europe and the Energy Union are making change real, just one year after their launch. With key projects in energy infrastructure (in particular interconnections), renewable energy and energy efficiency, the financial cornerstone of the Investment Plan (EFSI, European Fund for Strategic investments) has allocated to the energy sector 29% of financing approved by the European Investment Bank (EIB). This adds up to the actions undertaken to leverage investments for small and medium enterprises (SME), in particular through the European Investment Fund (EIF), which has channelled € 3.5 billion for 185 SME financing agreements in the energy sector. Altogether, these operations in the energy sector are expected to have the knock-on effect of attracting additional investments of over €16.9 billion in the coming years.
For further information, please visit the relevant European Commission webpage at the link below.