Innovation Fund - Second call for large-scale projects

Undefined

The Innovation Fund’s aim is to contribute towards a climate-neutral Europe by 2050 through funding the demonstration of innovative low-carbon technologies.

It is a 25 Billion Euro Fund managed directly by the European Commission, running over the period 2020 – 2030, and issuing competitive calls at least twice a year.

It will fund the demonstration of innovative low-carbon technologies under 5 categories: -

  • Innovative Renewable Energy Generation
  • Energy Storage
  • Innovative Low-Carbon Technologies and Processes in Energy Intensive Industries including Products Substituting Carbon Intensive Ones
  • Construction and operation of Carbon Capture and Storage
  • Carbon Capture and Utilisation

Projects need to: have a good degree of innovation, significantly reduce GHG emissions, be sufficiently mature, have scalability potential and be cost-efficient. 

For those that are not fully mature but are still promising with respect to innovation and GHG emission abatement, the fund may also provide project development assistance (in the form of consultation) to help the project reach a more mature stage.

The Current OPEN Call has a budget of 1.5 Billion Euro and is directed towards large-scale projects i.e. projects having a capital expenditure greater than 7.5 Million Euro. This call is single-staged.

Projects must be located in an EU Member State, Norway or Iceland. 

Applicants can be private or public entities or international organisations (see call for exact definitions). A legal entity can apply on its own or within a consortium.

The EU will finance up to 60% of the project relevant costs that include capital expenditure and operational expenditure for the first 10 years following entry into operation.

The payment of the lump sum contributions will be subject to the proper implementation of the action and the achievement of the results, and the completion of the work packages. Those payments after entry into operation will be disbursed in annual instalments based on verified emission avoidance.

Before award of projects, the European Commission will consult with the relevant Member State.

The Innovation Fund will also issue a call directed towards small-scale projects i.e. projects having a capital expenditure less than 7.5 Million Euro, next March 2022.

National Contact Point: Maria Dimech, EU Direct Funds Unit within the Funds and Programmes Division; e: maria.dimech.1@gov.mt , t: +35622001164

The NCP website can be found in this: link.    

Information and image source:

Organisation: 
European Commission
Call Deadline: 
Friday, March 3, 2023
Further Information:
External Link