EU to Pitch Infrastructure Fund to Drive Green-Energy Transition

The European Union will launch a new investment fund to help deliver the trillions of euros of spending that will be needed over the next 15 years for the bloc’s green-energy transition.

The European Commission estimates that the cost of the shift will surge to €695 billion ($803 billion) a year over the decade from 2031, according to a draft of its Clean Energy Investment Strategy, which is due to be adopted this week. The European Investment Bank is due to play a critical role, including by providing the initial finance for an equity-based Strategic Infrastructure Investment Fund that will help grid operators shore up their balance sheets.