EC releases call for funding for clean energy projects, including hydrogen and CCS
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Combustion Industry News Editor
A blog post by S&P Global Platts has examined how the European Commission plans to fund clean energy initiatives now and over the coming years. For the immediate term, the EC is currently taking, through its normal programme, requests for funding for hydrogen, carbon capture and storage, offshore wind, ocean energy, geothermal, and biofuels projects, with the EC covering 60% of the additional costs that would be incurred from using these technologies as opposed to existing ones. A total of €1 billion ($US1.13 billion) is available under the programme. For the medium term, the EC is still working to come to a unanimous agreement on its €750 billion green recovery fund, which would begin next year, and which would fund similar clean energy projects (in addition to projects across the economy, for instance health care). One imagines that utilities, research organisations and heavy industry across Europe will be keen to tap into the funding.