European Commission President Jean-Claude Juncker has today unveiled details of an investment plan that aims to drive €315bn (£250bn) into new infrastructure projects across Europe, including renewable energy and power network upgrades. At the core of the investment package will be the new €21bn European Fund for Strategic Investments (EFSI), run in partnership with the European Investment Bank (EIB), which aims to target higher-risk projects that have the potential to fuel growth and create jobs. The projects will include new energy and digital networks that help deliver on EU policies, as well as specifically green projects, new transport infrastructure, and innovation. The fund aims to boost private sector confidence in these areas by helping to absorb investment risk and address some of the investor uncertainty attached to new projects. For each €1 invested by the EFSI, the Commission aims to generate €15 of private sector capital, potentially mobilising a total of €315bn of new investment from 2015 to 2017. Junckers Commission has predicted the investment plan could create up to 1.3 million new jobs during the next three years. businessgreen/bg/news/2383558/renewables-to-benefit-from-eus-new-gbp250bn-investment-plan
Posted on: Wed, 26 Nov 2014 19:40:16 +0000
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