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
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30
