The European Commission adopted on the 18th of November 2015 the delegated regulation establishing the second PCI list, which will be now subject to the European Parliament’s and the Council’s right of scrutiny, under a process which should last in principle two months. The list of projects is an update of the PCI list adopted in October 2013 and includes 195 projects (108 electricity, 77 gas, 7 oil and 3 smart grids projects).
PCI 3.24 ‘Hydro-pumped storage in Greece — Amfilochia’ is featuring as one of the 195 key energy infrastructure projects included in the aforementioned delegated regulation. The basic role of the listed projects (to be updated every two years with the aim to integrate newly needed projects and remove obsolete ones) is to help deliver Europe’s energy and climate objectives and form key building blocks of the EU’s Energy Union. As a result, a budget of €5.35 billion has been allocated to trans-European energy infrastructure under the CEF from 2014-20, assisting projects of common interest to get implemented faster, in order to make them more attractive to investors.
Commissioner for Climate Action and Energy Arias Cañete said: “Modern and reliable energy infrastructure is essential to allow energy to flow freely across Europe. These projects will help us integrate our energy markets, diversify energy sources and routes, and end the energy isolation of some Member States. They will also boost the level of renewables on the grid, slashing carbon emissions. Europe’s energy transformation will require investments worth billions in strategic infrastructure. This list of projects will help ensure that our funds serve our goal of securing clean and affordable energy for Europeans.”
Please find below the link to the relevant documents as well as the press material: https://ec.europa.eu/energy/en/news/commission-unveils-list-195-key-energy-infrastructure-projects