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Role of large electrolytic capacitor in Electrical Transient protection for Power-Over-Ethernet

Hi everyone.

I was reading the Application Report Electrical Transient Immunity for Power-Over-Ethernet 

because I need to improve the protection for POE in our already made board.

I was wondering is the 220uF/100V capacitor a necessary? 

Is it just the bulk capacitance in a way that it is only meaningful for load transients or is it important for ESD/EFT/Surge protection too?

Thanks in advance,

Karlis