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Recently, witnessed by the European Commission, Portuguese Prime Minister Costa, French President Emmanuel Macron and Spanish Government Sanchez signed the Lisbon Declaration
.
The EU has committed 578 million euros for the integration of the Ibero-EU energy market
The signatories held a corresponding summit in the Portuguese capital to discuss further integration
of the Iberian energy market.
The announcement includes a plan to establish an energy interconnection
between Spain and France between the Bay of Biscay.
Once operational by 2025, the energy interconnection will double the current interconnection capacity between the Iberian Peninsula and the EU
.
In particular, a 280-kilometer submarine cable will play a vital role
in meeting the 15% interconnect capacity target set by the Madrid Declaration.
The EU has committed 578 million euros to participate in the project
.
European Commissioner Miguel Arias Cañete said: "A solid and resilient energy infrastructure is essential
to encourage regional action in new areas such as renewable energy and energy efficiency.
This will help us deliver on our Paris climate agreement commitments
.
I am particularly pleased to have signed a grant agreement for a submarine cable across the Bay of Biscay, the largest energy infrastructure investment
ever made in a project connecting European facilities.
This is good
for Spain and Portugal, France and Europe.
”
Recently, witnessed by the European Commission, Portuguese Prime Minister Costa, French President Emmanuel Macron and Spanish Government Sanchez signed the Lisbon Declaration
.
The EU has committed 578 million euros for the integration of the Ibero-EU energy market
The EU has committed 578 million euros for the integration of the Ibero-EU energy marketThe signatories held a corresponding summit in the Portuguese capital to discuss further integration
of the Iberian energy market.
The announcement includes a plan to establish an energy interconnection
between Spain and France between the Bay of Biscay.
Once operational by 2025, the energy interconnection will double the current interconnection capacity between the Iberian Peninsula and the EU
.
In particular, a 280-kilometer submarine cable will play a vital role
in meeting the 15% interconnect capacity target set by the Madrid Declaration.
The EU has committed 578 million euros to participate in the project
.
European Commissioner Miguel Arias Cañete said: "A solid and resilient energy infrastructure is essential
to encourage regional action in new areas such as renewable energy and energy efficiency.
This will help us deliver on our Paris climate agreement commitments
.
I am particularly pleased to have signed a grant agreement for a submarine cable across the Bay of Biscay, the largest energy infrastructure investment
ever made in a project connecting European facilities.
This is good
for Spain and Portugal, France and Europe.
”
