NER 300 Award Decisions

The EU Commission has published a press release and a FAQ document on the final awards in the NER 300 program.

I recall blogging about this briefly in summer 2011. This program wants to provide subsidy funds for renewable energy and carbon capture and storage projects. The funds come from selling 300 million EU carbon emission allowances. In 2011 one could expect EUR 4.5 billion from that, but the final result was much less. As the European Investment Bank reports, they only got an average of EUR 8.05 for the first 200 million and an average of 5.48 for the last 100 million. That adds up to 2.158 billion, or less than half the sum expected.

The awards in this second and final round were for 18 renewable energy and one carbon capture and storage project. The latter got the biggest award at 300 million. Most of the awards for renewable energy projects are one order of magnitude smaller.

EUR 2.158 billion is not much when distributed over the whole of the EU. That would be less than 5 per capita. But even small steps in the right direction should be cheered.

Published by kflenz

Professor at Aoyama Gakuin University, Tokyo. Author of Lenz Blog (since 2003, lenzblog.com).

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