Brussels: The European Commission has approved 235 new cross-border energy projects, granting them Projects of Common Interest (PCI) and Projects of Mutual Interest (PMI) status. These projects will benefit from accelerated permitting, regulatory support, and access to Connecting Europe Facility funding, enhancing the EU’s energy system.
According to Cyprus News Agency, the list includes significant projects for Cyprus, such as the Israel-Cyprus-Greece Great Sea Interconnector (GSI), involving the Hadera-Kofinou and Kofinou-Korakia links. This interconnector is strategically important as it will electrically connect Cyprus to the European mainland and Israel, improving supply security and supporting renewable energy integration.
Furthermore, the Prinos Apollo CO2 storage project is set to receive CO2 shipments from Greece, Cyprus, Bulgaria, Croatia, Italy, and Slovenia, aiming to establish a regional carbon capture and storage market. The EastMed pipeline continues to hold PCI status, recognized as a project of common European interest for transporting Eastern Mediterranean natural gas to Greece via Cyprus and Crete.
Energy Commissioner Dan J¸rgensen highlighted that energy infrastructure is essential for the Energy Union and Europe’s prosperity. The selected projects are expected to deliver cleaner, cheaper, and more secure energy.
At the EU level, the list comprises 113 electricity, offshore, and smart-grid projects, 100 hydrogen and electrolyser projects, 17 CO2 transport infrastructure projects, and three smart natural-gas network projects. It maintains two long-standing gas interconnectors involving Cyprus and Malta. The Commission emphasized the importance of modern, integrated networks for energy security, affordability, and Europe’s strategic autonomy. Investment needs for electricity, hydrogen, and CO2 networks are estimated at £1.5 trillion between 2024 and 2040.
The Cyprus News Agency reports that the upcoming European Grids Package, expected around 10 December, will focus on enhanced interconnectivity, accelerated permitting, stronger central planning by the Commission, and joint funding among member states to ensure fair cost-sharing and faster project delivery.
The new PCI/PMI list will be submitted to the European Parliament and the Council as a Delegated Act, with a two-month window for approval or rejection. After adoption, the Commission plans to collaborate with member states to expedite implementation.