‘Intelligent Energy for Europe’ will take over from the current energy framework programme, which is due to finish at the end of December this year.
Projects will be able to apply for funding for 50% of their total cost, but in order to be eligible for support, schemes must assist with the EU’s security of supply and combat climate change.
“In the field of energy, the EU must focus its efforts on specific action with a high added value, to enable us to manage our dependence on external energy and comply with our Kyoto commitments to combat climate change,” said Loyola de Palacio, Vice President responsible for energy and transport. “This ambitious new programme will help us to take better co-ordinated and more coherent action.”
According to the Commission, if no action is taken on the region’s energy dependence, the EU will be importing over 70% of its energy by 2030, with 95% of oil imported. With regards to climate change, the EU has committed to cutting greenhouse gas emissions by 8% on 1990 levels by 2008-12. One particular area of concern is the transport sector, which is currently responsible for 28% of carbon dioxide emissions, and will account for 90% of the increase in emissions between 1990 and 2010.