More than €1.2 billion invested by the European Union in cross-border energy infrastructure, including €35.5 million allocated to the H2Med project.

As part of the Connecting Europe Facility (CEF) program, the EU is allocating grants to cross-border energy projects recognized as Projects of Common Interest (PCI) and Projects of Mutual Interest (PMI) in 2024. This initiative, which far exceeds the initial budget envelope of €850 million, marks the largest financing operation since the program’s inception, particularly for projects related to hydrogen and offshore electricity networks.

The total funding is distributed among five work proposals and 36 studies. Hydrogen-related infrastructure will receive more than €250 million in funding to support development studies aimed at decarbonizing European industry.

Among the notable projects, the H2med project—a decarbonized hydrogen corridor connecting the Iberian Peninsula to the rest of the continent—has been awarded €35.5 million by the European Climate Executive Agency (CINEA) to finance its studies. Included in the framework of the “Connecting Europe Facility (CEF) Energy 2024” call for proposals, the H2med corridor consists of two major projects: the BarMar subsea hydrogen pipeline and the CelZa onshore hydrogen pipeline. The BarMar project will receive €28.3 million to create a 455 km underwater pipeline linking Barcelona to Marseille, while the CelZa project will be allocated €7.2 million for a 248 km onshore pipeline between Portugal and Spain. A key project for Europe, H2med could supply 10% of the EU’s total hydrogen consumption by 2030, while strengthening cooperation between Spain, Portugal, France, and Germany and stimulating local economies.

Once these studies are completed, the H2med project promoters will submit their application for a new CEF call for proposals before the final investment decision. The €1.2 billion committed by the European Commission aims to support the EU’s decarbonization goals and ensure industrial competitiveness, in line with the objectives of the Net Zero Industry Act. This funding will contribute to the integration of energy markets and the creation of a more resilient and sustainable energy system. Following an evaluation of the proposals by member states, the funding has been approved and will be formally adopted in the coming weeks. A new call for proposals is planned for 2025.