INEA has received 311 project proposals by the deadline of 29 October for the first stage of the first call for large-scale projects requesting up to €21.7 Billion from the Innovation Fund. Proposals received come from all Member States, UK, Iceland and Norway. The fund is one of the world's largest funding programmes for demonstration of innovative low-carbon technologies, the applications received are proposing to reduce up to 1.2 billion tCO2e during the projects duration.
During the first quarter of 2021, the proposals selected to the second stage will be communicated, managed by INEA and under the responsibility of DG Climate Action.
This is the first call for projects under the Innovation Fund (IF). The fund will contribute to Greenhouse Gas avoidance with revenues coming from the EU Emissions Trading System (EU ETS), the world's largest carbon pricing system, from the auctioning of 450 million allowances from 2020 to 2030. The Innovation Fund will also benefit from any unspent funds from the NER300 programme.
- Publication date
- 5 November 2020
- Innovation and Networks Executive Agency