The European Commission launched, on Monday 11 January, an online questionnaire allowing any private entity, be it a natural or legal person, to express its interest in participating in the ‘Renewable Energy Financing Mechanism’ by providing a financial contribution.
Adopted in September 2020 (see EUROPE 12562/3), this mechanism aims to facilitate the development of renewable energy projects in ‘host’ Member States by pooling voluntary financial contributions not only from ‘contributing’ Member States but also from the private sector.
According to the Commission, an incentive for private contributors is the possibility of applying for guarantees of origin for the energy production corresponding to their contribution, in accordance with Article 19 of the revised EU renewable energy directive (2018/2001) and subject to the national legislation of the country hosting the project.
In addition, “private investors can use the financing mechanism to broaden their sustainability and decarbonisation portfolio and to diversify their investment agenda”, the institution points out.
Like the Member States, private entities have until 15 February to express their willingness to participate in this mechanism.
As the Commission is bound by a confidentiality clause, it could not tell us whether any Member States had already expressed an interest.
To access the questionnaire: http://bit.ly/3bwDWcF (Original version in French by Damien Genicot)