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The Low Carbon Economy Ltd

19 May 2009 03:05:10

EC inviting bids for energy stimulus funding

EC inviting bids for energy stimulus funding
The European Commission (EC) has announced that it will now accept bids from energy projects for funding under the terms of its 4 billion euro (£3.5 billion) economic stimulus fund.

Those power generation projects that are eligible for the funding have until July 15th, 2009 to submit proposals for European Energy Programme for Recovery (EEPR) funding.

EU implementation of the funding will occur this year and next - it will be allocated between gas and electricity infrastructure schemes; offshore wind energy projects; and carbon capture and storage initiatives.

Hinting at a time frame for the submission process, the EC said that it expects to have signed the first grant agreements before the end of this year.

Energy commissioner Andris Piebalgs said: "The financing that has been made available will act as a role to secure and speed up investments in the energy sector.

"In addition, the funds allocated to projects will have a direct impact on the EU economy and on employment."

The list of eligible projects includes schemes to develop an offshore wind grid in the North sea and a wind farm in Aberdeen, as well as CCS projects in Germany, The Netherlands, Poland, Spain, Italy and the UK.



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