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Stuart Penson
17 May 2022
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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

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Also in this section
GE loses US patent dispute with Siemens Gamesa
30 June 2022
Recent ruling against GE could hobble offshore wind profits in the US, but uncertainty remains over the possibility of further litigation in other markets
UK must do more on climate targets – CCC
29 June 2022
Nation at significant risk of not meeting its fifth and sixth carbon budgets, says climate watchdog
Offshore wind installations lag government targets
29 June 2022
States are ramping up targets, but complex permitting systems constrain developers’ ability to deliver projects at pace, says Global Wind Energy Council
Equinor and Fluxys study CO₂ pipeline project
29 June 2022
Project would pump CO₂ from multiple emitters in northwest Europe to storage sites under Norwegian continental shelf

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