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The European Commission has launched the "NER 300", the world's largest demonstration programme for low-carbon technologies, which will act as a catalyst for the demonstration of new low carbon technologies on a commercial scale.
NER 300 enables the safe capture and storage of CO2
Renewable energy technologies at the focus of NER300
The NER 300 – so-called because it will be funded from the sale of 300 million emission allowances held in the New Entrants Reserve (NER) of the EU Emissions Trading System (ETS) - aims to encourage private sector investors and EU Member States to invest in commercial low-carbon demonstration projects.
Safe capture and storage of CO2 and innovative renewable energy technologies
It focuses on environmentally safe capture and geological storage of CO2 (CCS) and innovative renewable energy technologies such as wind energy, concentrated solar power, or smart grids. NER300 will establish an EU-wide demonstration programme comprising the best possible projects using a wide range of technologies and involving all Member States.
Since NER300 will be funded by the sale (or "monetisation") of 300 million emission allowances, the amount of money available for the demonstration projects will depend on the market price at the time the allowances are sold. At the market price at the call launch (early November 2011), the 300 million allowances would raise around € 4.5 billion, which will leverage matching funding of another €4.5 billion from Member States and industry. The sale of emission allowances is administered by the European Investment Bank, which publishes regular reports (see News).
Funding under the NER 300 programme
Further information on funding can be found at the page of the first call for proposals for the NER 300.
