The Commission has provided continuous support to the project, from planning and granting the status of a project of common interest (PCI) to providing financial support. Its completion will mark a significant step towards a more resilient, interconnected, and sustainable European energy system. As a first-of-its-kind project, the Bornholm Energy Island also strengthens the business case for subsequent projects and unlocks key technical and innovative solutions.

The financing comes under the Connecting Europe Facility (CEF) Energy programme, which is an EU fund supporting key projects for the completion of the Energy Union managed by the European Climate, Infrastructure and Environment Executive Agency (CINEA). The signature ceremony took place in the margins of the informal Energy Council in Copenhagen, hosted by the Danish Presidency.

Commissioner for Energy and Housing Dan Jørgensen said:  

'This project is a blueprint for future offshore power development in the EU. Not only will it help integrate renewable energy and decarbonise our system, but crucially, it will boost the competitiveness of the sector while providing cleaner and cheaper energy to millions of European consumers across borders. This is why completing the Energy Union is paramount. The Commission will keep doing its utmost to support innovative infrastructure projects that make the energy transition happen on the ground.'