Project of Common Interest
Greenlink has been given the status of a European Union Project of Common Interest (PCI), making it one of Europe’s most important energy infrastructure projects.
The “Energy Union” launched by the European Commission on 25th February 2015 is driving a fundamental transition towards more innovative ways to produce, transport and consume energy, and to address different approaches to the design and implementation of energy policy.
Facilitating the Energy Union requires a range of actions, chief amongst them being an increase in the physical interconnection of the member states and surrounding country energy grids (both gas and electricity) to meet interconnection targets of 10% by 2020 and 15% by 2030.
The EU, Irish and UK governments all agree that, even after Brexit, an interconnected grid will help to ensure affordable, secure and sustainable energy, and also growth and jobs across Europe.
Greenlink is recognised and supported by the European Commission. In 2013, the European Union identified 248 energy infrastructure projects, which were designated as projects of common interest (PCI). These projects encompass a range of network development, smart grids, energy storage and interconnector projects involving two or more EU Member states. To ensure effective and efficient implementation of the projects, the European Commission is focusing on improving regional cooperation between Member States as part of the implementation of EU Regulation 347/2013 on guidelines for trans-European energy infrastructure.
Greenlink is included in the third Project of Common Interest (PCI) list published by the European Commission in 2018. It is referenced in ENTSO-E’s Ten Year Network Development Plan (TYNDP) 2014, 2016 and 2018. ENTSO-E TYNDP 2018 notes that interconnection assists in increasing security of supply and competition.
The interconnector has been awarded financial support from the Connecting Europe Facility (CEF), which is a source of funding only available to PCI projects. The CEF funding has supported a significant proportion of the development of the project alongside our own capital.