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ARTICLE · 14 NOVEMBER 2014

NER300: A €1 Billion Award To Support 19 Climate Change Projects

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The European Commission is responsible for the overall management and implementation of NER300 projects.

European UnionEnvironment

On July 8, 2014, the European Commission adopted the "Award Decision Under the Second Call for Proposals of the NER300 Funding Programme" in order to award funding to 19 climate change projects under the NER300 Funding Programme.

Created by amended Directive 2003/87/EC, NER300 is a financing instrument managed jointly by the European Commission, the European Investment Bank, and the EU Member States, that sets aside 300 million allowances in the New Entrants' Reserve of the European Emissions Trading Scheme for subsidizing installations of innovative renewable energy technology and carbon capture and storage ("CCS").

NER300 aims at protecting the climate and making Europe less energy dependent by covering a wide range of CCS technologies (pre-combustion, post-combustion, oxyfuel, and industrial applications) and of renewable energy (bioenergy, concentrated solar power, geothermal power, photovoltaic, wind power, ocean energy, smart grids). Commission Decision

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