Commission takes stock of project selection

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The Commission will officially ask Member States to verify the initiatives and nationwide co-funding in early October 2012, so as to finalising its investment selections by way of the top of this yr.

The Commission estimates that co-funding of €1.3-1.five billion might be to be had for the primary name. This would permit some 3 carbon seize and geological garage initiatives and as much as 16 renewable power initiatives to be co-funded. Projects usually are supported in additional than part of the EU Member States, together with a host of Member States which can be recently in financial and financial issue.

The actual quantity of investment to be had depends on how a lot is raised throughout the sale of 200 million allowances from the brand new entrants’ reserve of the EU emissions buying and selling machine. The gross sales, which can be being undertaken by way of the European Investment Bank, are beneath method and will probably be concluded in early October.

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