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
27 September 2023
Investment in African offsets and ambitions to create a trading hub demonstrate Mideast Gulf state’s commitment to growing markets
26 September 2023
Newly launched Taiwan Carbon Solution Exchange is expected to enable companies to trade in both domestic and international credits
22 September 2023
A flurry of interest in direct air capture signals a key role for the technology in the push for net zero
21 September 2023
Technology company says its latest technologies can achieve 30–50% cost reductions at the capture stage
