The European Commission has presented its first initiatives to boost investment in homegrown clean energy solutions, increase resilience and reduce energy prices. The prevailing geopolitical context acts as a reminder of the risks related to Europe’s reliance on imported fossil fuels. The Commission says that clean energy sources remain the most affordable and safe, and the only mid-term response to reduce our exposure to price volatility.

The Commission´s Clean Energy Investment Strategy will help bridge the gap between the private capital currently available and the investments needed. It will help de-risk projects and mobilise private finance for grids, innovative clean energy technologies and energy efficiency. The Commission will deliver this strategy in close partnership with the European Investment Bank (EIB) Group which intends to deliver more than €75bn of financing over the next three  years in support of the objectives of clean energy transition.

In particular, the EIB Group will make a commitment with an indicative amount of up to €500m to the Strategic Infrastructure Investment Fund. This will provide anchor capital to invest in specific energy infrastructure projects, providing a financial boost to the objectives of the European Grids Package.