News // Alternative energy
EU invests over €10 billion in innovative clean technologies
26 February 2019 , 14:06Neftegaz.RU367
Brussels, February 26 - Neftegaz.RU. The European Commission today announces an investment programme worth over €10 billion for low-carbon technologies in several sectors.
EU innovative climate action has a range of benefits – from the creation of local green jobs and growth, to energy-efficient homes with a reduced energy bill, cleaner air, more efficient public transport systems in cities, and secure supplies of energy and other resources.
Commissioner for Climate Action & Energy Miguel Arias Cañete said: «Less than 3 months after adopting our strategic vision for a climate neutral Europe by 2050, we are putting the money where the mouth is. This is why we are investing in bringing to the market highly innovative technologies in energy intensive industries, in carbon capture, storage and use, in the renewable energy sector and in energy storage.»
On 28 November 2018, the European Commission adopted a strategic long-term vision for a modern, competitive and climate neutral economy by 2050 – A Clean Planet for all.
The Innovation Fund will pool together resources amounting to around €10 billion, depending on the carbon price. At least 450 million allowances from the EU Emissions Trading System will be sold on the carbon market in the period 2020-2030. The revenues of these sales depend on the carbon price, which is currently around €20.
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