EU energy sector eyes more funding under EFSI 2
Gas Natural Fenosa was granted a €600 million loan under EFSI to expand its gas networks. (Gas Natural Fenosa)
The European Commission is planning to finance more energy projects through the extension of its European Fund for Strategic Investment (EFSI), but it remains to be seen if this will be enough to fill the investment gap.
The commission announced on 16 September that EFSI will be extended for a further three years to 2020. The next period, known as EFSI 2, will aim to mobilise €500 billion ($557 billion) in investment. Launched one year ago, EFSI – implemented and co-funded by the European Investment Bank (EIB) – is on track to invest at least €315 billion by mid-2018, according to the commission. The energy and environment/resource efficiency sectors have so far received 28% of the financing available under the scheme, making them the most funded sector combined.