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European businesses show big appetite for investing in low carbon technologies

  • Start date : 11/03/2011 00:00:00
European businesses show big appetite for investing in low carbon technologies

More than 150 proposals for large-scale demonstration projects involving innovative renewable energy and carbon capture and storage (CCS) technologies have been submitted under the EU's "NER 300" programme, the world's largest demonstration programme for such technologies. According to reports provided to the European Commission by 25 EU Member States, applications for 22 CCS projects and 131 projects involving innovative renewable energy technologies were received by the 9 February deadline for responses to the first call for proposals.

 

Connie Hedegaard, European Commissioner for Climate Action, said: ''The number of projects submitted for funding is very encouraging. It shows strong interest among European businesses for investing in low-carbon technologies and for contributing to the transition we've just outlined in the 'Roadmap to a competitive low carbon economy in 2050 adopted by the Commission on 8 March . It also highlights the role that emissions trading and public sector financing at EU level can play in kickstarting the low-carbon transition, a helpful reminder as we prepare the EU's future budget framework up to 2020."