Report on Innovative Financial Instruments for the Implementation of the SET Plan, First-Of-A-Kind projects
This report responds to the request of Commissioner Oettinger and the Cabinet of Commissioner Geoghegan-Quinn end of 2012, for an expert assessment and recommendations regarding the financing of first-of-a-kind commercial demonstration projects as prioritised in the roadmaps of the Strategic Energy Technology (SET) Plan. The expert group comprised representatives of financial organisations, i.e. the European Investment Bank, the European Venture Capital Association, the European Insurance and Re-insurance federation, the World Bank, and the Climate Change Capital. Six hearings with key stakeholders representing the SET Plan European Industrial Initiatives (EIIs), as well as the Fuel Cells and Hydrogen Joint Undertaking were held. These hearings provided information regarding their main barriers for implementation and the gaps as regards access to finance. Existing EU financial were evaluated too. The report concludes that a new financial instrument at EU level is not needed since existing financial instruments already provide equity, loans, or guarantees. However, until now, those instruments have not provided the financing required. As a response to this problem a set of changes to existing financial instruments and their utilisation were recommended.
- EUR - Scientific and Technical Research Reports
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