The European Commission (EC) has announced the selection of 85 innovative net-zero projects across 18 countries, which will receive a total of €4.8 billion (USD 5.19 billion) in grants from the Innovation Fund. This funding represents the largest allocation since the program’s inception four years ago.
Overview of Selected Projects
The selected projects span various sectors, including:
- Energy-Intensive Industries
- Renewable Energy
- Energy Storage
- Industrial Carbon Management
- Net-Zero Mobility (including maritime and aviation)
- Buildings
These projects are expected to be completed by 2030 and will collectively reduce emissions by approximately 476 million tonnes of CO2 equivalent over their first decade of operation.
Key Highlights
- Cleantech Manufacturing: The grant-winning initiatives include manufacturing plants for:
- Key components in wind and solar energy
- Heat pumps
- Electrolysers
- Fuel cells
- Energy storage technologies
- Batteries value chain These projects are projected to contribute 3 GW of solar photovoltaic (PV) manufacturing capacity and 9.3 GW of electrolyser manufacturing capacity within the EU.
- Notable Grant Recipient: Norway’s Nel ASA has been awarded up to €135 million for the industrialization of its next-generation pressurized alkaline technology.
- Renewable Hydrogen Contributions: Projects in the renewable hydrogen category are expected to produce 61 kilotonnes of renewable fuel of non-biological origin (RFNBO) annually, enhancing the use of renewable energy in hard-to-abate applications in both industry and transport.
Next Steps
Successful applicants are expected to sign their grant agreements with the European Climate, Infrastructure and Environment Executive Agency (CINEA) in the first quarter of 2025. The Innovation Fund has allocated a total of €12 billion in support so far, with the next call for proposals scheduled for early December 2024.
Learn more:
- Renewables Now Ltd on LinkedIn: #hydrogen
- Renewables Now Ltd on LinkedIn: #offshorewind #vietnam
- Full text of “Financial Times , 1983, UK, English”
