EU Energy Projects PIC and PIM 2026: Which infrastructures receive priority funding

Key data

Energy companies with cross-border projects in Europe face a key decision: being or not being on the EU's PCI/PMI list marks the difference between years of ordinary processing or access to a fast administrative and financial track. The Delegated Regulation (EU) 2026/764, published on 9 April 2026, updates this strategic list by modifying Regulation (EU) 2022/869 on trans-European energy infrastructures.

The update is not a bureaucratic formality: it redefines which projects will receive preferential regulatory and financial support from the EU until the next review, with special prominence for hydrogen, smart electricity grids and energy storage.

What does this regulation establish?

Delegated Regulation (EU) 2026/764 amends Regulation (EU) 2022/869, which is the European legal framework for trans-European energy infrastructures. The central change is the update of the official list of projects that obtain the status of Project of Common Interest (PCI) or Project of Mutual Interest (PMI).

The distinction between both categories is relevant:

• Projects of Common Interest (PCI): Energy infrastructures between EU Member States.
• Projects of Mutual Interest (PMI): Infrastructures that connect the EU with third countries.

Projects listed obtain automatically three concrete operational and financial advantages:

The new list reflects the EU's current energy priorities, with special emphasis on three key technologies: hydrogen, smart electricity grids and energy storage. This orientation is consistent with the objectives of the European Green Deal and the energy sector's decarbonization strategy.

Economic and operational impact

The impact of being included in the PCI/PMI list is not measured in sanctions, but in opportunities and avoided costs. For energy project developers, the difference between being or not being on the list can mean:

• Reduction of authorization timeframes: PCI/PMI projects benefit from accelerated procedures, which reduces the time to operation and therefore the financial costs associated with the development phase.
• Access to the Connecting Europe Mechanism: This European fund finances transport, energy and digital infrastructures. PCI/PMI projects have facilitated access, which can translate into direct subsidies or favorable financial instruments for large-scale projects.
• Lower regulatory risk: Recognition as a European priority project reduces uncertainty regarding possible national administrative blockages.
• Signal for investors: PCI/PMI status is a signal of European institutional support that facilitates private financing and improves access conditions to capital markets.

For public administrations, the list determines which projects must receive priority attention in their internal procedures, with direct implications for resource planning and resolution timeframes.

Who does it affect?

• Energy companies with cross-border projects: Any operator developing infrastructures that cross borders between Member States or with third countries must verify if their project is on the list.
• Hydrogen project developers: Technology explicitly included in the new priorities of the updated list.
• Smart electricity grid operators: Modernization and digitalization projects of networks with cross-border component.
• Energy storage companies: Storage facilities with impact on cross-border supply security.
• Public administrations in the energy sector: Regulatory bodies and ministries managing authorization procedures for these projects.
• Investors and financiers of energy infrastructures: Infrastructure funds, development banks and financial entities evaluating projects in the sector.
• Consultancies and advisors in the energy sector: Professionals advising developers in the process of inclusion in future lists.

Practical example

A Spanish company promoting a green hydrogen infrastructure project with connection to France faces two possible scenarios:

Scenario A: The project is included in the PCI list updated by Regulation 2026/764. The company benefits from accelerated processing in Spain and France, priority treatment in the authorization procedures of both countries and can apply for Connecting Europe Mechanism financing. The authorization process follows reduced timeframes compared to the ordinary regime, which can mean months or years of difference in the start of operations.

Scenario B: The project is not included in the current list. The company must follow ordinary authorization procedures in each Member State, without preferential access to the Connecting Europe Mechanism and without the European institutional support that facilitates private investment capture. In this case, the company must analyze whether its project meets the criteria of Regulation (EU) 2022/869 to apply for the next list review.

The difference between both scenarios is not minor: access to the Connecting Europe Mechanism and the reduction of administrative timeframes can be decisive for the financial viability of large-scale energy infrastructure projects.

What should companies do now?

1. Verify if the project is on the updated list: Consult the full text of Delegated Regulation (EU) 2026/764 in the EU Official Journal to confirm if the project is listed as PCI or PMI.
2. Evaluate the impact on authorization timeframes: If the project is included, review with the legal and regulatory team how to activate the benefits of accelerated processing before the competent administrations.
3. Explore access to the Connecting Europe Mechanism: PCI/PMI projects can apply for CEF financing. Contact the European Climate, Infrastructure and Environment Executive Agency to learn about available calls and financing instruments.