InnovFin Energy Demonstration Projects (EDP) provides loans, loan guarantees or equity-type financing typically between €7.5 million and €75 million to innovative demonstration projects in the fields of energy system transformation, including but not limited to renewable energy technologies, smart energy systems, energy storage, and carbon capture utilisation and storage. They may relate to innovative energy system assets, manufacturing processes or services, and, on a pilot basis, projects that support circular economy.
The product is deployed directly by the European Invesment Bank and will continue to support innovative projects until the end of 2022.
Certain EDP projects may also benefit from financial support from NER 300, a funding programme for innovative low-carbon technology projects.
Eligibility
To be eligible for funding, counterparties must comply with the following criteria:
Scope
The project should contribute to the energy transition, particularly in the fields of renewable energy technologies, smart energy systems, energy storage, and carbon capture utilisation and storage. Projects contributing to the circular economy, such as circular design and production, circular use or circular value recovery can also be supported on a pilot basis under EDP. Projects should demonstrate the commercial viability of pre-commercial technologies or services, or enhance the competiveness of manufacturing processes.
Innovativeness
The technologies demonstrated in the project should be innovative in relation to others in the market.
Innovation may relate to a specific technology, processes, products or services. The innovative aspect may consist of the innovative combination or innovative application of existing technologies.
Readiness for demonstration at scale
The technologies shall be at pre-commercial level or early commercialisation stages. For example, the successful operation of the technologies should facilitate their subsequent commercial deployment.
The project/investment should be sufficiently mature for demonstration at the proposed commercial scale (technologies validated and demonstrated through previous testing) with reasonable prospects of successful demonstration.
Prospects of bankability
The project shall generate sufficient revenues to have the potential to become bankable.
This requirement relates to all aspects of the project that are relevant for future project performance and loan repayment.
Commitment
Promoters, sponsors and/or operators must be willing to substantially co-fund the project.
Replicability
The project should have the potential to be replicated elsewhere with convincing market opportunities and prospects for future cost reductions. Manufacturing plants and services do not necessarily need to comply with this requirement.
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Contact our Information Desk for enquiries regarding the financing facilities of InnovFin Energy Demo Projects.
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