The European Commission (EC) has officially granted the Black Sea Energy project PMI (Project of Mutual Interest) status, Report informs referring to the EU.
PMI projects enjoy accelerated administrative procedures, a special legal framework, cross-border regulatory compatibility, the possibility of EU financing (not guaranteed unlike PCI projects), transparency and prestige – boosting investor confidence.
On December 1, 2025, the European Commission granted a total of 235 cross-border energy projects the status of Projects of Common Interest (PCI) and Projects of Mutual Interest (PMI). The list of selected PCI and PMI projects includes 113 projects in the power generation, offshore installations, and smart grids, which will be crucial for integrating the growing share of renewable energy sources.
Construction of the Black Sea Energy Cable is estimated at €3.5 billion and will take 3-4 years. The European Commission plans to allocate €2.3 billion to the project.
