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Funding: Second call for NER300 funding, deadline 3rd July

The European Commission’s climate department has released its second call for proposals under the NER300 strand of funding. NER300 finances commercial demonstration projects that aim at the environmentally safe capture and geological storage of CO2 as well as demonstration projects of innovative renewable energy technologies under the scheme for greenhouse gas emission allowances trading within the Community. The first call, in December 2012, made funding awards worth €1.2 billion to 23 renewable energy projects. This second call launched earlier this month, will be funded from the sale of 100 million carbon allowances (EUAs) as well as unused funds from the first call with more than €250 million, originally allocated to a French CCS projects, is up for grabs. Newsflash already reported in February that, due to the drop in the carbon price the sale of EUAs would raise less money than the first call achieved. When NER300 was planned they were expecting to raise around €4.5 billion between both rounds, yet with the collapse in the price of carbon, only half that total is expected to be available. Financing under the Decision shall be fixed at 50 % of the Relevant Costs for a Project, except where the total request for public funding is less than 50 % of the Relevant Costs, in which case the total request for public funding shall be financed. Funding to an individual Project will be limited to 15 % of the total funding available. The Application Forms shall be submitted by the Project Sponsor to the Member State in which the Project will be implemented, or the Lead Member State in the case of a Trans-boundary Project. It is not permissible for a proposal to be submitted directly from a project sponsor to the EIB. It is envisaged that project sponsors will fall into one of the following categories, a single organisation which seeks to undertake all aspects of the project, engaging with subcontractors as required; or a consortium of organisations acting together in a Special Purpose Vehicle, Joint Venture or otherwise. Member states have until 3 July to complete the eligibility assessment for projects.  READ MORE

Issue 22