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The Low Carbon Economy Ltd

12 May 2011 10:05:11

Low carbon energy projects put forward for EU cash

Low carbon energy projects put forward for EU cash
A dozen low carbon energy projects have been submitted to the European Investment Bank (EIB) to be considered for a share of €4.5 billion (£2.7 billion) in funding.

The 12 projects were chosen from 14 applications made under the national stage of the NER300 scheme, which supports innovative renewable energy and carbon capture and storage (CCS) projects, however only three will eventually be granted funding.

Energy Minister Charles Hendry said all of the original applications received under the scheme had been eligible under the criteria set down by the Department of Energy and Climate Change, but two were withdrawn voluntarily before the EIB's May 9th deadline.

Of those moving forward to the next stage, seven are for CCS technologies, including one at the UK's largest coal-fired power station Drax, and five are for renewable energy projects.

Announced last November, NER300 will eventually offer funding for eight CCS programmes and 34 renewable energy projects across the European Union.

"Taking forward these sorts of technologies will be crucial to our move to a low carbon economy, providing green jobs as well as helping us lower emissions and increase energy security," Mr Hendry said. ADNFCR-1235-ID-800529235-ADNFCR

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