Renewable projects failed to secure funding in the Innovation Fund’s first round
Renewables sector loses confidence in EU support scheme
Rules governing EU Innovation Fund disadvantage renewables sector and must change, industry groups tell European Commission
Europe’s renewable energy industry has lost confidence in the €10bn ($10.5bn) Innovation Fund, one of the EU’s main financial support schemes for the development of low-carbon technology, according to a group of the sector’s largest trade associations. Renewable generation failed to win any funding in the scheme’s first-round call for large-scale projects. Renewables sector applications for the second round—which was launched in October with a sharply increased budget of €1.5bn—have dropped to 10pc of proposals, down from 20pc in round one, the trade groups note in a joint letter to European Commission vice-president Frans Timmermans. “The Innovation Fund is the EU’s most impactful tool to d
Also in this section
12 November 2024
Standards have been agreed for a mechanism under Article 6.4 of the Paris Agreement to trade carbon credits internationally
8 November 2024
The energy sector will need all viable technologies to meet surging demand as AI and datacentres drain power grids
31 October 2024
Russia still aspires to become a major supplier of hydrogen, CO₂ storage capacity and carbon credits, despite financial constraints and the loss of Western technology and expertise
30 October 2024
Occidental subsidiary signs agreement with Enterprise Products Partners for pipelines and transport services for Bluebonnet hub
