The European Commission launched on 9 November a multi-billion euro initiative to support carbon capture and storage and innovative renewable energy technology demonstration projects within the European Union. The EIB will support implementation through appraising projects and by selling the emissions allowances from which the initiative gets its name: the NER300 programme (NER = new entrants reserve of the EU emissions trading system). 

The European Commission has launched the world’s largest funding programme to  support carbon capture and storage (CCS) and innovative renewable energy technology demonstration projects. As the bank of the European Union, the European Investment Bank will support implementation through appraising projects and by selling the emissions allowances from which the initiative gets its name: the NER300 programme (NER = new entrants reserve of the EU emissions trading system). 

In due course, the Bank will make more details of its involvement public on its website, including details about when and how emissions allowances will be sold. Until that time, please refer to the European Commission press release and press memo on the initiative (see links below).

Further information for potential project promoters seeking funding via NER300 can be found here:  http://ec.europa.eu/clima/funding/ner300/index_en.htm.

The text of the legislation creating the programme can be found here:  http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2010:290:0039:0048:EN:PDF

Questions and answers on NER300: see MEMO/10/549