EU Grants and EIB Financing Combine for Alternative Fuels Infrastructure Projects

The European Investment Bank (EIB) and the European Commission have signed an agreement that enables the combination of EU grants and long-term EIB financing for alternative fuels infrastructure projects. This agreement falls under the Alternative Fuels Infrastructure Facility (AFIF) and is part of the European Union's Connecting Europe Facility (CEF) transport programme. As a result, over €1.5 billion in EU grants will be available by the end of 2023 for alternative fuels infrastructure projects, including electric fast-charging and hydrogen refuelling stations on the TEN-T road network. Private and public banks, in addition to the EIB, can also benefit from this facility. The agreement aims to support the development of alternative fuels infrastructure across the EU.

Key Takeaways:

• The agreement between the EIB and the European Commission enables the combination of EU grants and long-term EIB financing for alternative fuels infrastructure projects.
• The Alternative Fuels Infrastructure Facility (AFIF) will make over €1.5 billion in EU grants available by the end of 2023 for alternative fuels infrastructure projects.
• The facility will support projects such as electric fast-charging and hydrogen refuelling stations on the TEN-T road network.
• The facility will be implemented through a rolling call until 2023, with five cut-off dates for submitting proposals.
• The European Commission will manage the grant component directly, while the EIB will apply its own eligibility criteria and due diligence process when approving co-financing.
• Proposals will be evaluated by the Commission/CINEA, and applicants will receive the evaluation results no later than six months after the submission deadline.
• Grant agreements will be signed within nine months, and AFIF grants will only be available for projects for which EIB financing has been approved.

Statistics:

• Over €1.5 billion in EU grants will be available by the end of 2023 for alternative fuels infrastructure projects.
• The alternative fuels infrastructure facility will support projects such as electric fast-charging and hydrogen refuelling stations on the TEN-T road network.
• The European Commission will manage the grant component directly, with the EIB applying its own eligibility criteria and due diligence process.

Sources:

• "EU Grants and EIB Financing Combine for Alternative Fuels Infrastructure Projects" (pivotalsources.com, 2021).
• European Commission website (European Commission, no date).
• European Climate, Infrastructure and Environment Executive Agency (CINEA) website (CINEA, no date).
• European Investment Bank (EIB) website (EIB, no date).