NER300 is one of the world's largest funding programmes for innovative low-carbon energy demonstration projects.
The programme will act as a catalyst for the demonstration of environmentally safe carbon capture and storage (CCS) and innovative renewable energy sources (RES) technologies on a commercial scale within the European Union.
Wide range of CCS and RES technologies supported
The aim of NER300 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 and RES technologies. The latter include bioenergy, concentrated solar power, photovoltaics, geothermal, wind, ocean, hydropower and smart grids.
NER300 is so called because it will be 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 (ETS). The funds from the sales will be distributed to projects selected through two rounds of calls for proposals, covering 200 and 100 million allowances respectively.
Based on the sale of the first 200 million allowances, €1.5 billion are available to co-fund successful projects under the first call for proposals..
NER300 funding is expected 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.
While the Commission is responsible for the overall implementation of NER300, the sale of emission allowances is administered by the European Investment Bank (EIB), which publishes regular reports. The EIB has also provided a summary report with more details of the first round of NER300 sales. The EIB is also responsible for scrutinising the project bids submitted and for allocating funding to the Member States for disbursement to the project sponsors.
Funding under the NER300 programme
Further information on funding can be found at the page of the first call for proposals for the NER300.