The EU Commission has selected 85 innovative net-zero across 18 Member States to receive €4.8bn in grants from the Innovation Fund, to boost cutting-edge clean technologies across Europe. Different scales of projects were awarded (pilot, small, medium and large), across a wide range of sectors: energy-intensive industries, renewable energy, energy storage, Industrial Carbon Management, net-zero mobility (including maritime and aviation) and buildings. The projects are in Belgium, Denmark, Germany, Estonia, Greece, Spain, France, Croatia, Italy, Hungary, Netherlands, Austria, Poland, Portugal, Slovakia, Finland, Sweden and Norway, and they should enter operation before 2030.
The selected projects were evaluated according to five criteria: potential to reduce GHG emissions; degree of innovation; operational, financial, and technical maturity; replicability; and cost efficiency. They are expected to increase the EU’s manufacturing capacity to 3 GW of solar PV and 9.3 GW of electrolysers; to reduce emissions by about 476 MtCO2e over their first ten years of operation; to deliver 61 Kt/year of renewable fuel; and to store at least 50 MtCO2/year.
The EU ETS Innovation Fund is one of the key tools of the European Green Deal Industrial Plan, designed to create financial incentives for companies and public authorities to invest in advanced net-zero and low-carbon technologies, supporting Europe's transition to climate neutrality. The fund has awarded about €7.2bn to more than 120 innovative projects across the European Economic Area (EEA) through previous calls for proposals. The next call should be launched in December 2024.
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