EU funding awarded: Northern lights role to support Europe achieve its climate policy objective confirmed
December 8, 2023
The European Commission has today announced that Northern Lights is awarded €131 million under the Connecting Europe Facility (CEF) funding scheme.
“I am very happy that the European Union has proposed to grant Northern Lights with CEF-funding. This confirms Northern Lights’s role as key for reaching European climate policy objectives, including contributing to a climate-neutral economy by 2050”, says Børre Jacobsen, Managing Director of Northern Lights.
Of a total of eight cross-border energy infrastructure projects being awarded a total of €594 million of EU funds, an unprecedented amount (almost €480 million) will be awarded to four CO2 transport and storage projects. According to the news announcement from the EU Commission, “They constitute the first building blocks of a future Europe-wide carbon value chain that are scheduled for completion before the end of the decade and are therefore expected to contribute to the EU’s 2030 decarbonisation objectives”.
Read the news announcement from the EU Commission: Connecting Europe Facility: Nearly €600 for energy infrastructure contributing to decarbonisation and security of supply (europa.eu)
“The CEF funding will be a positive contribution to Northern Lights’ work to further expand our storage site below the North Sea. We are now looking forward to entering into dialogue with the EU”, says Børre Jacobsen, Managing Director of Northern Lights.