This factsheet released by the European Commission shows that in the energy efficiency, renewables, and smart grids sectors, the Investment Plan For Europe -just eighteen months after its launch- 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.
As demonstrated in the factsheet, 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. 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.
To read the full factsheet, please visit the relevant European Commission webpage at the link below.