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ARTICLE · 15 NOVEMBER 2010

€4.5 Billion New Cleantech Funding In Climate Change

CMS Cameron McKenna Nabarro Olswang
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On the 9th November 2010 the European Commission announced the first Call for Proposals under the NER300 competition which would fund innovative technologies in carbon capture and storage (CCS) and certain clean energies.

United KingdomEnvironment
Paul Sheridan
Paul Sheridan
Valentina Keys
Valentina Keys

The NER300 initiative

On the 9th November 2010 the European Commission announced the first Call for Proposals under the NER300 competition which would fund innovative technologies in carbon capture and storage (CCS) and certain clean energies. These funds are to be derived from the monetisation of an equivalent of 200 million emission allowances (see further below). Project sponsors are invited to submit application to the relevant Member States by 9th February 2011 and Member States are required to complete eligibility assessments for submission to the European Investment Bank by 9th May 2011. Decisions will be announced by the end of 2011.

What is NER300?

This initiative is known as NER300. This stems from the provisions of the EU Emissions Trading Scheme (EU ETS) Directive 2003/87/EC, the revised EU ETS Directive 2009/29/EC and is detailed in EU Commission's Decision C(2010)7499 (the "NER300 Decision"). Effectively the NER300 initiative will be funded through

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