The EU has launched a new energy hub to help the member states to become increasingly energy efficient.
The ‘Smart specialisation platform on energy’ will be used between regions to share their knowledge about energy investment and low carbon technologies.
It also aims to improve innovative activities in the sector and design a strategic agenda on energy.
The platform is expected to boost economic growth in the regions by ensuring sustainable, competitive and secure energy supply, the European Commission states.
Corina Creţu, European Commissioner for Regional Policy said: “For 2014-2020, more than €38billion of Cohesion Policy funding will be invested in achieving the Energy Union Strategy and boosting the shift towards a low-carbon economy in all sectors.
“I welcome the new Platform on Energy which will pool joint know-how on sustainable energy and will help regions in making efficient use of the funding available to invest in innovative solutions.”
Around 172 regions will participate in the activities on this platform.