29 February 2024 (Lloyd's List) - THE European Commission launched a €1bn ($1.08bn) funding facility for alternative fuel projects in the transport sector, including those that aim to build port infrastructure for shore power, and ammonia and methanol bunkering.
The EU will make funding available under the Alternative Fuels Infrastructure Facility along the Trans-European Network of Transport (TEN-T), according to a press release.
The new funding will help EU countries with objectives set in the FuelEU Maritime regulations.
Funding will not be limited to maritime projects, as it will also support road transport and aviation projects.
Both shore power and alternative fuel bunkering will be key compliance methods with the FuelEU Maritime regulations, which require vessels above 5,000 gt to cut greenhouse gas intensity by 2% in 2025-2029 from a 2020 baseline.
Certain vessels trading in EU ports may comply with the FuelEU rules by connecting to shore power throughout a year, according to a European Commission presentation.
The EU’s Alternative Fuel Infrastructure Regulation requires some ports in the TEN-T network to provide shore power by 2030.
There are around 320 ports as part of the TEN-T network, including Rotterdam, Antwerp and Hamburg.
Companies can apply for funding before three cut-off dates in September 2024, June 2025 and December 2025.
