A €2 billion boost for low-carbon energy projects in Europe Published on: 08/07/2014
Connie Hedegaard, EU Commissioner for Climate Action, said: "With these first-of-a-kind projects, we will help protect the climate and make Europe less energy dependent. The €1 billion we are awarding today will leverage some additional €900 million of private investment. So that is almost €2 billion of investment in climate-friendly technologies here in Europe. This is a contribution to reducing Europe's energy bill of more than €1 billion per day that we pay for our imported fossil fuels."
The European Commission is awarding a total of 1 billion EUR to 19 innovative low-carbon energy projects selected under the second call of the NER300 funding programme.
This funding, together with private investments it will help leverage, will ensure almost 2 billion EUR in new investments for climate-friendly technologies that will help reduce Europe's energy bill and lower our dependence on imported fossil fuels. And to make all this possible, we're using the revenues of the polluters from the EU's Emission Trading System. This means we're making the polluters pay and putting them behind the driving wheel of clean energy developments in Europe.