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European Climate Infrastructure and Environment Executive Agency
News article5 November 2020Innovation and Networks Executive Agency

Innovation Fund: 311 project proposals requesting €21.7 billion

The first call for large-scale projects closed on 29 October 2020 with 311 project proposals, requesting €21.7 billion.

311 project proposals received requesting EUR 21.7 billion
311 project proposals received requesting EUR 21.7 billion
INEA

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.

Background

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.

Follow us on Twitter and LinkedIn for updates on the selection process and for information on upcoming funding opportunities.

Details

Publication date
5 November 2020
Author
Innovation and Networks Executive Agency