18th December 2012 – The European Commission today awarded over €1.2 billion funding to 23 highly innovative renewable energy demonstration projects under the first call for proposals for the so-called NER300 funding programme. Projects will be co-financed with revenues obtained from the sale of 200 million emission allowances from the new entrants’ reserve (NER) of the EU Emissions Trading System.
The projects cover a wide range of renewable technologies – bioenergy (including advanced biofuels), concentrated solar power, geothermal power, wind, ocean energy and distributed renewable management (smart grids).
Climate Action Commissioner Connie Hedegaard said: “This year Christmas has come early – today’s Decision is a major milestone in EU climate policy. The NER300 programme is in effect a ‘Robin Hood’ mechanism that makes polluters pay for large-scale demonstration of new low-carbon technologies. The €1.2 billion of grants – paid by the polluters – will leverage a further €2 billion of private investment in the 23 selected low-carbon demonstration projects. This will help the EU keep its frontrunner position on renewables and create jobs here and now, in the EU.”
Source: EU press release, 18/12/2012