On July 8, 2014, the European Commission adopted the "Award Decision Under the
Second Call for Proposals of the NER300 Funding
Programme" in order to award funding to 19 climate change projects under the NER300
Funding Programme.
Created by amended Directive 2003/87/EC, NER300 is a financing
instrument managed jointly by the European Commission, the European
Investment Bank, and the EU Member States, that sets aside 300
million allowances in the New Entrants' Reserve of
the European Emissions Trading Scheme for subsidizing installations
of innovative renewable energy technology and carbon capture and storage
("CCS").
NER300 aims at protecting the climate and making Europe less
energy dependent by covering a wide range of CCS technologies
(pre-combustion, post-combustion, oxyfuel, and industrial
applications) and of renewable energy (bioenergy, concentrated
solar power, geothermal power, photovoltaic, wind power, ocean energy, smart grids). Commission Decision 2010/670/EU sets out the
rules and criteria for the selection and implementation of those
projects and the basic rules for the monetization of allowances and
for the management of revenues.
Under the 2010–2012 first call for proposal, NER300 projects
were awarded 200 million allowances. The remaining 100 million
allowances were awarded under the second round to 19 projects
hosted in 12 EU Member States: Croatia, Cyprus, Denmark, Estonia,
France, Ireland, Italy, Latvia, Portugal, Spain, Sweden, and the
United Kingdom.
The European Commission is responsible for the overall management
and implementation of NER300 projects.
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