European Investment Bank provides €2bn for clean energy projects
More than €2bn (£1.6bn) is to be made available for new innovative renewable energy and carbon capture projects, the European Investment Bank (EIB) has announced, reports Edie.net.
The EIB has raised the funds by completing sales of 300 million emission allowances under the NER300 financing programme, managed jointly by the European Commission, EIB and Member States.
EIB vice president Jonathan Taylor said: “The European Investment Bank is pleased to support future investment in low-carbon demonstration projects.
“Successful completion of monetisation of carbon allowances under the NER300 scheme will help both carbon capture and storage schemes and innovative renewable energy projects across Europe reach a commercial scale,” he added.