The EU has granted EUR 173m in funding to 18 clean technology projects financed through its EU ETS carbon emission trading scheme – including solar and wind schemes in Latvia and Hungary as it included the countries for the first time.
The EU Innovation Fund would support 15 small-scale and three large-scale projects, with all 18 having signed their grant agreements, the fund’s implementing agency, the European Climate, Infrastructure and Environment Executive Agency (CINEA), said on Tuesday.
The agency said the 15 small-scale projects were expected to reduce greenhouse gas emissions by more than 1.7m tonnes of carbon dioxide equivalent (tCO2e) during their first 10 years of operation, while the three large-scale projects should reduce emissions by 2.9m tCO2e during the same period.
“With this support, the Innovation Fund will help companies in Europe bring innovative technologies to the market in renewable energy, energy storage and energy-intensive industries,” said the CINEA.
“For the first time, the Innovation Fund will support Latvian and Hungarian projects, expanding its geographical reach to 24 countries.”
A total of 72 project proposals applied to the small-scale funding call in September 2023.
The fund has awarded EUR 6.5bn to more than 100 projects since 2021 through previous calls for proposals.
source: montelnews.com