Brussels, 03/04/2013 (Agence Europe) - Funds are available under the programme NER 300 to provide some financial help in starting up large-scale innovative demonstration projects in the field of renewable energies and carbon capture and storage technologies (CCS), the European Commission announced on Wednesday 3 April. Hence its call for proposals - the second of its kind - launched the same day for candidate projects for funding. Member states have three months to identify them from among interested companies and to submit them to the European Investment Bank (EIB).
The projects retained will be co-funded up to half of their total cost by revenue from the sales of 100 million emissions quotas from the reserve held for new entrants (New Entrants Reserve) to the emissions quota trading system (ETS) of the European Union, but it is impossible at this stage to know the exact amount available, as the volume of revenue generated will depend on the price per tonne of carbon.
“We hope to have a full range of low-carbon projects operational by 2018”, said Connie Hedegaard, European commissioner for climate action, reiterating the success of the first phase of funding.
In the first call for proposals, which came in December 2012, more than €1.2 billion was made available to launch 23 low-carbon projects exclusively in the field of renewable energies, as it was not possible at the time to support any CCS projects. The envelope of €275 million earmarked for this type of project in the first call for proposals therefore remains available to fund projects in this second phase of the initiative.
The NER 300 funding will cover up to 50% of the “specific costs” of the project, in other words additional costs over and above those of the existing, tried-and-tested technologies. The remainder will be covered by private investment and/or additional national funds. The NER 300 funding will be made available on an annual basis, depending on performances achieved and compliance with the knowledge-sharing requirements.
The NER 300 programme - named after the auctioning of 300 million quotas - is implemented by the Commission in cooperation with the EIB, as regards the selection of the projects, the sale of the 300 million carbon quotas and the management of the income generated. (AN/transl.fl).