The European Commission has just unveiled new criteria that need to be met by energy infrastructure projects concerning the electricity, and now, also hydrogen, sectors for Project of Common Interest (PCI) status.
Brussels presented these details as part of its wider plan concerning the financing and development of energy infrastructure. The European Commission will commit annual investments of 50.5 billion euros in the effort to meet 2030 climate-agreement targets.
Electricity transmission projects will need to increase trans-boundary capacities between EU member states by at least 500 MW, according to one of Brussels’ new criteria for PCI status, enabling favorable EU funding.
In energy storage, projects will need to offer capacities of at least 225 MW to secure their PCI status.
Smart meter installations must involve transmission and/or distribution operators of at least two EU member states and represent at least 5,000 users either producing or consuming 300 GW per year, including at least 20 percent from renewable energy sources.
As for hydrogen, projects must facilitate trans-boundary transmission between EU member states or boost storage capacities at borders by at least 10 percent.