The European Commission grants 1.2 billion Euro for the start of 23 innovative projects on renewable energy

The European Commission has provided over 1.2 billion Euro to finance 23 strong demonstration projects of innovative renewable energy in the first call for proposals for the so-called NER 300 funding program. The projects will be co-financed with the revenue obtained from the sale of 200 million emission certificates from the allowances for the new installation entered (NER) of the EU trading scheme emissions.

The projects cover a wide range of technologies regarding the energy from renewable sources – bio energy (including advanced bio fuel), concentrated solar power, geothermal energy, wind energy, ocean energy and the renewable energy management – “smart grids”.

Once in the stage of development, the projects will contribute collectively to increase the annual production of energy from renewable sources in Europe with approximately 10 TWh. This value represents the annual fuel consumption of over 1 million cars. Moreover, the aim is to successfully achieve a demonstration of technologies that will further contribute to a substantial increase in renewable energy production in EU.

Together, the winning projects will involve the participation of thousands of full-time workers during the construction phase (next 3 – 4 years). In the development stage about one thousand people will be employed with a full time job to maintain running the facilities for the next 15 – 20 years. These projects also seek positive effects on the economic growth and employment in the entire chain of supply for this sector.

Frimu Ghinea