Grace & Victoria are also partnering with a very major and Esteemed International Group with their Energy and I T Infrastructure projects ventures aggregating to €2 billion Euros; within Europe & Globally in: Poland, Cyprus, Croatia, Bosnia, Macedonia, Brazil, Cameroon and Ajman.
The infrastructure projects will enable the gradual build-up of the “Energy Union” by integrating energy markets in Europe, by diversifying the energy sources and transport routes.
They will also help bring an end to the energy isolation of some member state, boost the level of renewables on the grid and bring down carbon emissions.
The world is going through a transformation in energy use. The global population is rising, living standards are improving for many and global urbanisation is accelerating. The global population is estimated to increase from 7 to 9 billion by 2050 and demand for energy could rise by up to 80 per cent by around 2050 as it powers rapid economic development.
The current energy infrastructure across the EU is out-dated and inefficient and bottlenecks prevent efficient transmission of electricity and gas from one part of Europe to the other and from one country to another. The electricity networks need to be better integrated and more powerful. New gas pipelines are required so as to allow a more diverse palette of sources of gas supply. Energy islands and disconnected regions need to be brought out of isolation and Europe’s energy market needs to be better integrated. To date, there has been limited support for cross-border transmission at an EU level. Energy infrastructure has been a matter for each Member State and each country has had a domestic focus on the development and structure of its energy infrastructure. With the PCIs, energy infrastructure has been elevated to a European level.
The energy sector across Europe has evolved rapidly over recent years. The changes in the power generation mix today and in the future require a different approach to the structure of Europe’s grids that transport power and gas. Reasons for the new approach to Europe’s energy infrastructure include:
- The move away from centralised nuclear power generation in some markets requiring new or enhanced electricity transmission lines.
- Europe seeking gas supplies from new markets to enhance security of supply and competition amongst suppliers.
- Utility scale renewables being typically further away from populated areas than traditional utility power.
- Taking advantage of the cost effective power generation located in markets which are not currently connected to the largest demand centres.
- The intermittent nature of renewables meaning that more focus needs to be placed on reducing balancing costs and ensuring security of supply across Europe.