Brussels, 22/10/2010 (Agence Europe) - The Belgian Presidency of the EU Council of Ministers announced on Friday 22 October an inter-institutional agreement on the creation of a new European Fund for Investments in Energy Efficiency and Renewable Energy Projects (see EUROPE 10207). The fund will receive funding of up to €146 million from the European Union. This sum is equivalent to what is left over from the European Energy Recovery Plan adopted in 2009.
The Council of the European Union, represented by Belgian minister Paul Magnette, and the European Parliament, whose rapporteur is Kathleen Van Brempt, reached agreement on this fund, which will be complemented by contributions from the European Investment Bank (EIB) and the KFW bank group, who support the project. In all, the fund will cover several hundred million euro in investments. Local and regional authorities may, from 1 January 2011, file their applications with the EIB which will be the guardian of the fund. The types of project in line for funding are wind farms, CO2 capture and storage, clean urban transport, smart energy distribution systems (transport networks) and lighting. (L.C./transl.rt)