{"id":88798,"date":"2024-12-23T00:00:00","date_gmt":"2024-12-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/12\/23\/the-european-commission-approves-eur-bns-in-funding-for-green-projects\/"},"modified":"2024-12-23T00:00:00","modified_gmt":"2024-12-23T00:00:00","slug":"the-european-commission-approves-eur-bns-in-funding-for-green-projects","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/12\/23\/the-european-commission-approves-eur-bns-in-funding-for-green-projects\/","title":{"rendered":"The European Commission approves EUR bns in funding for green projects"},"content":{"rendered":"

The European Commission has approved EUR 6 bn in funding for various <\/strong>green energy projects including sustainable aviation fuel production<\/strong>, according to press releases here<\/a> and here<\/a>. Here is what we know about the projects so far:<\/p>\n

#1- EUR 2.7 bn for clean energy projects in eight member states: <\/strong>The European Commission has disbursed EUR 2.7 bn to fund 39 clean energy projects in eight of its lower-income member states after receiving approval from the European Investment Bank (EIB). The money is being dispersed from EIB\u2019s Modernisation Fund<\/a>, financed by revenues from the EU\u2019s Emissions Trading System<\/a>. Since 2021, the Modernisation fund \u2014 which targets energy transitions in 13 EU countries like Poland, Greece, Slovenia, and Czech \u2014 has made EUR 15.45 bn in investments, of which EUR 5.67 bn were issued this year for 77 projects. <\/p>\n

Another funding round is coming: <\/strong>The deadline for proposals for the next round of investments is set for 18 February for priority proposals and 21 January for non-priority projects. Priority projects are defined as ones targeting energy systems modernization and efficiency, emissions reductions, transport, and industry. <\/p>\n

#2- EUR 3 bn for renewable fuels: <\/strong>The European Commission has approved a EUR 3 bn to fund a German-Dutch collaboration scheme that will fund the production of renewable fuels of non-biological origin (RFNBO), including renewable hydrogen. The money will finance projects around the world with the purpose of importing production and selling it in the EU, supporting the EU\u2019s Hydrogen Strategy<\/a>, the European Green Deal<\/a>, and the REPower EU Plan<\/a>. <\/p>\n

The details: <\/strong>The plan will fund at least 1.875 GW of electrolysis capacity globally, using a double auction system to connect RFNBO producers \u2014 mainly outside the EU \u2014 and buyers in Germany and the Netherlands. The competitive tenders \u2014 to be organized on a multi-regional basis \u2014 are set to conclude in 2025, with a minimum electrolyser capacity of 5 MW required to qualify. Germany is contributing EUR 2.7 bn, while the Netherlands is adding EUR 300 mn.<\/p>\n

#3- EUR 350 mn grant for synthetic aviation fuels plant in Germany:<\/strong> The European Commission has approved Germany\u2019s EUR 350 mn grant to back Concrete Chemicals GmbH in producing synthetic aviation fuels starting 2028. The project will combine electricity, renewables-powered hydrogen, and biogenic carbon dioxide captured from cement production to produce synthetic kerosene, known as power-to-liquids (PtL) kerosene. <\/p>\n

More details: <\/strong>The PtL-kerosene will qualify as a renewable aviation fuel of non-biological origin, meeting the EU\u2019s strict criteria for sustainability. The plant is expected to annually produce around 30k tons of sustainable fuel and 6.5k tons of sustainable naphtha byproduct, which could then be repurposed as feedstock for plastic production. The plant would achieve a 90% reduction in lifecycle greenhouse gas emissions compared to conventional kerosene and naphtha. The project will contribute to the European Green Deal and the ReFuelEU Aviation<\/a> targets. <\/p>\n","protected":false},"excerpt":{"rendered":"

The approved funds total around EUR 6 bn, and will go through three different dispersal streams<\/p>\n","protected":false},"author":1,"featured_media":88799,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,275,11,317,39,312],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-biofuels","tag-enterpriseclimate","tag-european-union","tag-green-hydrogen","tag-sustainable-aviation-fuels","wpautop","entry"],"acf":{"mongo_id":"a58f7d6a-4c74-41ca-a3c4-34a6bfa1f4ee","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/752.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The European Commission approves EUR bns in funding for green projects","related_issue":[88782],"teaser":"The approved funds total around EUR 6 bn, and will go through three different dispersal streams","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.fb98bad6-378e-4fb7-acdc-1435ac69a643.mp3"},"yoast_head":"\nThe European Commission approves EUR bns in funding for green projects - 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