EU to Push Energy Transition
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EU decided to lead the global energy transition starting with € 1.1 billion through the EU Innovation Fund.
EU confirmed it will heavily fund technologies to facilitate european energy transition and to enable european companies to make global progress.
A strategy that will bear fruit by 2030 and will prepare the climate neutrality targets for 2050. EU Innovation Fund is part of EU global financing strategy for Energy Research & Innovation.
EU Innovation Fund, which is financed with the EU Emissions Trading System (EU ETS), is one of the world’s largest funding programmes for the demonstration of innovative low-carbon technologies.
The Innovation Fund provides around €38 billion of grants, supporting from 2020 to 2030 (at €75/tCO2), depending on the carbon price, for the commercial demonstration of innovative low-carbon technologies, aiming to bring to the market industrial solutions to decarbonise Europe and support its transition to climate neutrality.
First call – On 1st April 2022, the European Commission signed grants for €1.0 billion (find the list financed projects by continuing the reading).
Second call – The deadline for submitting applications for the second call is August 31, 2022.