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EU Finance for Innovators InnovFin Energy Demonstration ProjectsFrom demo to market
Why finance clean energy demonstration projects?
Solution
Successful innovations can:
InnovFin EDP financing so far
InnovFin EDP is part of InnovFin – EU Finance for Innovators
We need to accelerate innovation in clean energy technologiesand systems to fight
climate change.
help the EU meet its ambitious climate and energy targets
provide Europeans with access to safe and clean energy by contributing
to a decarbonised power system
lower the risks for investments, facilitate subsequent access to capital and accelerate deployment
foster industrial development, which contributes to creating new jobs
and sustainable development
The InnovFin Energy Demonstration Projects Facility provides loans, loan guarantees or equity-type financing for technology demonstration projects at commercial-scale.
Budget: more than €700 million.
Floating offshore wind energy: WindFloat Atlantic — €60 million
Innovative floating offshore wind farm in Portugal by WindPlus to harvest wind power in deep water areas where traditional foundations are not possible.
Sustainable bioenergy: CHO Tiper – €30 million
Innovative plasma gasification process in France byEuroplasma to produce clean electricity and heat from forestry residues, commercial and industrial waste.
Wave energy: Waveroller – €10 million
Innovative submerged device in Portugal by Finnish company AW Energy to turn wave energy into electricity.
Green battery-cell production: Northvolt – €52.5 million
Innovative factory in Sweden by Northvolt to manufacture lithium-ion batteries for the automotive, stationary energy storage and industrial sectors with the smallest possible carbon footprint.
Photovoltaics: Oxford PV – €15 million
Innovative manufacturing plant in Germany by Oxford PV for more efficient perovskite-based
photovoltaic cells to generate electricity.
Financing from €7.5 million to €75 million helps innovators demonstrate
the commercial and technical viability of innovative clean energy technologies,
which makes the projects less risky and more attractive for private investment. €7.5 million €75 million
InnovFin offers tailored products – from guarantees for intermediaries that lend to SMEs to direct loans to enterprises – to support virtually every type of innovation project in the EU and countries associated to the EU’s research and innovation funding programme Horizon 2020.
InnovFin is funded by the Horizon 2020 and the European Investment Bank.
Areas covered: renewable energy, energy storage, smart grids, carbon capture, utilisation and use, as well as manufacturing processes and services related to innovative technologies.
InnovFin EDP provides funding to support the implementation of the EU's Strategic
Energy Technologies Plan.
As innovations mature, they reach a stage where developers need to launch
large-scale projects to demonstrate that the
technologies are ready for market.
Access to finance for such first-of-a-kind projects is o�en limited due to theinherent high risks –
a major barrier to bringing technologies to market.
http://ec.europa.eu/research/energy/index.cfm?pg=funding
More information:
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#InnovFin #H2020 #InvestEUresearch
Research andInnovation