The European Union (EU) has set objectives to
achieve a number of energy targets including the reduction of CO2
emissions and raising the share of the EU's energy consumption
produced from renewable resources - the 20-20- 20 targets. In order
to achieve these and to continue building a fully internal market
whilst also bringing renewable energy from where it is generated to
where it is needed and providing additional sources of gas, the
EU28 need to be sufficiently connected. To upgrade existing and to
build new interconnectors, substantial investments are needed and
it is estimated that at least €200 billion is required over
the next six years.
"Most Highly Regarded Firm for Energy"
Who's Who Legal, 2013
On 14 October 2013, the EU Commission presented a list of 248
energy infrastructure projects that are of common interest
(Projects of Common Interest (PCIs)), which are
intended to be launched between 2014 and 2020. These PCIs will
benefit from accelerated permitting through streamlined national
processes and may be eligible for up to €5.85 billion of EU
funding in aggregate.
We believe that the PCIs represent a significant opportunity for
investors, financiers, governments, promoters and contractors on a
global scale. In this briefing, we:
outline the background
explore what the PCIs are
highlight some of the key issues
consider financing and structuring issues
discuss the regulatory framework
Norton Rose Fulbright has extensive experience advising clients
on all aspects of energy infrastructure projects across Europe.
We would welcome the opportunity to discuss this with you in
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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