The Prime Minister of Portugal António Costa, the President of France Emmanuel Macron, and the President of the government of Spain Pedro Sanchez will meet in Lisbon today (27 July) to strengthen their regional cooperation in the EU energy market.
Leaders will take stock of the progress achieved in better integrating the Iberian Peninsula into the EU energy market and will formally agree on ways to strengthen the regional cooperation between Spain, France and Portugal.
European Commission President Jean-Claude Juncker said: “Today’s event shows the value of European solidarity and regional unity. By agreeing on steps forward to complete the energy interconnections between France, Portugal and Spain and ways to enhance our regional cooperation, we are strengthening the security of energy supply across Europe and delivering on our promise to make Europe number one on clean energy and renewables. The world looks to us for leadership in these turbulent times. Let’s show just how much unity can achieve.”
What will happen during the meeting?
The integration of the Iberian Peninsula into the internal energy market has been a priority for the Commission.
Underlining the EU’s readiness to complete the Energy Union and fulfil its commitments under the Paris agreement, the leaders will sign the Lisbon Declaration that clearly sets out the way forward. It builds on the Madrid Declaration from March 2015 which launched the integration process and set up a High-Level Group chaired by the Commission to steer progress.
A grant agreement for the power line crossing the Bay of Biscay totalling €578m, will also be signed at the occasion. It will be the largest Connecting Europe Facility investment ever awarded to an energy infrastructure project.
Commissioner Miguel Arias Cañete said: “This summit will showcase the commitment of the Juncker Commission to get the hardware of the Energy Union built on the ground and make a difference. A solid and resilient energy infrastructure is also essential to encourage regional action in new areas, such as renewables and energy efficiency. This will help us deliver on our Paris Agreement commitments. I am particularly pleased by the signing of a grant agreement for the power line crossing the Bay of Biscay, the largest investment in energy infrastructure under Connecting Europe Facility ever awarded. It is good for Spain and Portugal, good for France, and good for Europe”.
