NER 300 is one of the world's largest funding programmes for innovative low-carbon energy demonstration projects. The programme is conceived as a catalyst for the demonstration of environmentally safe carbon capture and storage (CCS) and innovative renewable energy (RES) technologies on a commercial scale within the European Union.
Renewable energy technologies
at the focus of NER 300
Wide range of CCS and RES technologies supported
The aim of NER 300 is to establish a demonstration programme comprising the best possible CCS and RES projects and involving all Member States. The programme intends to support a wide range of CCS technologies (pre-combustion, post-combustion, oxyfuel, and industrial applications) and RES technologies (bioenergy, concentrated solar power, photovoltaics, geothermal, wind, ocean, hydropower, and smart grids).
NER 300 also seeks to leverage a considerable amount of private investment and/or national co-funding across the EU, boost the deployment of innovative low-carbon technologies and stimulate the creation of jobs in those technologies within the EU.
NER 300 is so called because it is funded from the sale of 300 million emission allowances from the New Entrants' Reserve (NER) set up for the third phase of the EU emissions trading system (EU ETS). The funds from the sales are to be distributed to projects selected through two rounds of calls for proposals, covering 200 and 100 million allowances respectively.
First award decision
Under the first call for proposals the European Commission in December 2012 made funding awards for a total value of €1.2 billion to 23 renewable energy projects. This amount is estimated to have leveraged additional funding of over €2 billion from private sources.
See this Q&A for further details of the projects chosen.
The projects awarded funding are now moving towards implementation. They must reach their final investment decisions by December 2014, and enter into operation by December 2016.
Second award decision
Under the second award decision in July 2014 the European Commission awarded a total of €1 billion in funding to 18 renewable energy projects and one carbon capture and storage project. This amount is estimated to have leveraged additional funding of over €860 million from private sources.
See the Q&A for further details of the projects chosen.
The projects awarded funding must reach their final investment decisions by June 2016 and enter into operation by June 2018.
Programme management and implementation
The European Commission is responsible for the overall management and implementation of NER 300. In this, the Commission draws on the unique expertise of the European Investment Bank (EIB) to evaluate proposals submitted by Member States, to sell NER allowances on its behalf, and to manage the revenues and the payment of funds to Member States during project implementation.
Reports on the sales of NER 300 allowances can be found under the Documentation tab above.