The European Parliament adopted the upgraded Connecting Europe Facility (CEF) programme, releasing new funds for renewable energy projects for 2021-2027.
MEPs earmarked 60% of the €30bn CEF fund for projects that help achieve the EU’s climate objectives, Next generation projects, across transport, energy and digital projects.
They voted for 15% of the €5bn energy pillar fund to go to cross-border renewable energy projects.
The programme will also aim to make energy networks more interoperable and ensure that projects funded are in line with EU and national climate and energy plans.
Industry, Research and Energy Committee rapporteur Henna Virkkunen said: “Connecting Europe Facility finances key cross-border connectivity and renewable energy projects between member states, and will allow Europe to take a leap towards a digital and climate neutral economy.
“This is vital to ensure we stay competitive in the future.”
The upgraded Connecting Europe Facility will enter into force once the new rules have been published in the EU Official Journal.
They will apply retroactively as of 1 January 2021.