Identifier
Created
Classification
Origin
09BRUSSELS429
2009-03-26 05:58:00
UNCLASSIFIED
USEU Brussels
Cable title:
EU TO SPEND 4 BILLION ON ENERGY TO STIMULATE
how-toVZCZCXRO0218 RR RUEHAG RUEHDF RUEHIK RUEHLZ RUEHROV RUEHSR DE RUEHBS #0429 0850558 ZNR UUUUU ZZH R 260558Z MAR 09 FM USEU BRUSSELS TO RUEHC/SECSTATE WASHDC INFO RUCNMEM/EU MEMBER STATES COLLECTIVE RUEHAK/AMEMBASSY ANKARA RUEHBR/AMEMBASSY BRASILIA RUEHBU/AMEMBASSY BUENOS AIRES RUEHBY/AMEMBASSY CANBERRA RUEHJA/AMEMBASSY JAKARTA RUEHME/AMEMBASSY MEXICO RUEHMO/AMEMBASSY MOSCOW RUEHNE/AMEMBASSY NEW DELHI RUEHOT/AMEMBASSY OTTAWA RUEHSA/AMEMBASSY PRETORIA RUEHRH/AMEMBASSY RIYADH RUEHUL/AMEMBASSY SEOUL RUEHKO/AMEMBASSY TOKYO RHEBAAA/DEPT OF ENERGY WASHINGTON DC RUCPDOC/DEPT OF COMMERCE WASHDC RUEATRS/DEPT OF TREASURY WASHDC
UNCLAS BRUSSELS 000429
SIPDIS
STATE FOR OES/EGC DEROSA-JOYNT
E.O. 12958: N/A
TAGS: ENRG EFIN EU
SUBJECT: EU TO SPEND 4 BILLION ON ENERGY TO STIMULATE
ECONOMY
REF: STATE 26022
UNCLAS BRUSSELS 000429
SIPDIS
STATE FOR OES/EGC DEROSA-JOYNT
E.O. 12958: N/A
TAGS: ENRG EFIN EU
SUBJECT: EU TO SPEND 4 BILLION ON ENERGY TO STIMULATE
ECONOMY
REF: STATE 26022
1. In December 2008, the European Council agreed to a
European Economic Recovery Plan (EERP),whereby each member
state would develop and implement a financial stimulus
package. As part of the EERP, the Commission proposed an EU
stimulus package of five billion euros, to be spent on energy
and broadband infrastructure projects. Originally, the funds
for the Commission's proposal were to be drawn from unspent
2008 Common Agricultural Policy (CAP) funds. However,
because some member states opposed the use of CAP funds for
this purpose, the Commission revised it proposal and will
draw the five billion euros from its 2009 and 2010 budgets.
Of the five billion, the EU leaders agreed to spend 3.98
billion on energy projects, 2.0 billion from the 2009 budget
and 1.98 billion from the 2010 budget. (Note: These funds
are in addition to EU funds allocated in December 2008 under
the EU,s climate and energy package of legislation. End
note.)
2. In their March 19-20 European Council conclusions, EU
leaders mandated that all "budgetary commitments" must be
made before the end of 2010, "due to the urgent need for
stimulus." The Council approved funding for energy projects
as follows:
--565 million euros for offshore wind projects,
--1.05 billion euros for CCS projects,
--910 million euros for electricity interconnectors, and
--1.44 billion euros for gas interconnectors.
An additional 15 million euros was set aside for Cyprus and
Malta for "small island projects." The package must now be
approved by the European Parliament.
3. In addition to the EERP projects, the Commission has
proposed three other initiatives: a European Green Car
Initiative (five billion euros),a European Energy Efficient
Buildings Initiative (one billion euros) and Factories of the
Future Initiative (1.2 billion euros). According to the
Commission, these initiatives would be funded by member
states, the European Investment Bank, and/or industry.
However, no funds have been designated as of yet.
Murray
.
SIPDIS
STATE FOR OES/EGC DEROSA-JOYNT
E.O. 12958: N/A
TAGS: ENRG EFIN EU
SUBJECT: EU TO SPEND 4 BILLION ON ENERGY TO STIMULATE
ECONOMY
REF: STATE 26022
1. In December 2008, the European Council agreed to a
European Economic Recovery Plan (EERP),whereby each member
state would develop and implement a financial stimulus
package. As part of the EERP, the Commission proposed an EU
stimulus package of five billion euros, to be spent on energy
and broadband infrastructure projects. Originally, the funds
for the Commission's proposal were to be drawn from unspent
2008 Common Agricultural Policy (CAP) funds. However,
because some member states opposed the use of CAP funds for
this purpose, the Commission revised it proposal and will
draw the five billion euros from its 2009 and 2010 budgets.
Of the five billion, the EU leaders agreed to spend 3.98
billion on energy projects, 2.0 billion from the 2009 budget
and 1.98 billion from the 2010 budget. (Note: These funds
are in addition to EU funds allocated in December 2008 under
the EU,s climate and energy package of legislation. End
note.)
2. In their March 19-20 European Council conclusions, EU
leaders mandated that all "budgetary commitments" must be
made before the end of 2010, "due to the urgent need for
stimulus." The Council approved funding for energy projects
as follows:
--565 million euros for offshore wind projects,
--1.05 billion euros for CCS projects,
--910 million euros for electricity interconnectors, and
--1.44 billion euros for gas interconnectors.
An additional 15 million euros was set aside for Cyprus and
Malta for "small island projects." The package must now be
approved by the European Parliament.
3. In addition to the EERP projects, the Commission has
proposed three other initiatives: a European Green Car
Initiative (five billion euros),a European Energy Efficient
Buildings Initiative (one billion euros) and Factories of the
Future Initiative (1.2 billion euros). According to the
Commission, these initiatives would be funded by member
states, the European Investment Bank, and/or industry.
However, no funds have been designated as of yet.
Murray
.