EU to Pitch Infrastructure Fund to Drive Green-Energy Transition

The European Union will launch a new investment fund to help deliver the trillions of euros of spending that will be needed over the next 15 years for the bloc’s green-energy transition.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — The European Union will launch a new investment fund to help deliver the trillions of euros of spending that will be needed over the next 15 years for the bloc’s green-energy transition.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.The European Commission estimates that the cost of the shift will surge to €695 billion ($803 billion) a year over the decade from 2031, according to a draft of its Clean Energy Investment Strategy, which is due to be adopted this week.

The European Investment Bank is due to play a critical role, including by providing the initial finance for an equity-based Strategic Infrastructure Investment Fund that will help grid operators shore up their balance sheets.“Increased and accelerated investments into grids and networks, the backbone of the energy system, is essential for European competitiveness and security,” according to the draft document, which is still subject to change. “Public support can help spread the costs of the transition over the lifetime of assets, preventing short-term price peaks.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.The funding initiative comes as the EU tries to spur investments in the infrastructure that will be needed for an energy system based on renewables. The Iran war has once again exposed the continent’s reliance on fossil fuels, with oil and gas prices soaring amid the prospect of increased global competition for scarcer supplies.A spokesperson for the European Commission didn’t immediately respond to a request for comment.It’s not clear at this stage how big the fund is likely to be, nor the size of the EIB’s initial investment.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.