12 UK low carbon projects in running for EU funds

The Government has submitted 12 applications from UK projects to the European Investment Bank (EIB) scheme for funding. The New Entrant Reserve (NER) scheme is worth around €4.5 billion and […]

Register now!

By Vicky Ellis

The Government has submitted 12 applications from UK projects to the European Investment Bank (EIB) scheme for funding.

The New Entrant Reserve (NER) scheme is worth around €4.5 billion and up to three projects per EU country could score funding from the scheme. The EIB will select the projects for funding after a nine month assessment.

Energy Minister Charles Hendry said: “I am very encouraged by the strength and breadth of the UK applications for this round of NER funding. They demonstrate that the UK is at the cutting edge of low carbon energy development, ranging from CCS to wave, tidal and offshore wind.”

Seven of the UK entrants are carbon capture and storage (CCS) projects and five are renewable energy projects.

Big UK hitters SSE and Scottish Power applied for the CCS funding, as well as eco-power investor C.GEN, low carbon champion Peel Energy, a consortium led by Progressive Energy, the Don Valley Power Project and internationally-operating Alstom.

Marine power dominates the list of renewable projects put forward, including projects for wave energy converters off the coast of Orkney and turbines at the Pentland Firth Inner Sound.

The UK Government aims to launch its own selection process to find four CCS projects for UK funding later this year.