Pan-renewables Innovation Fund joint letter to Executive Vice-President Timmermans
The Innovation Fund is the EU’s most impactful tool to drive clean energy innovation. But its award criteria put renewable projects at a structural disadvantage.
This is contrary to the original policy intent. And it undermines the REPowerEU objective of substituting fossil fuels with renewables.
We therefore call upon the Commission to:
1. Dedicate the 3rd call large-scale calls to renewable energy categories only – to restore confidence in the Fund within these sectors and correct for earlier calls
2. Adjust the rules of future calls so renewable energy projects may compete
3. Create calls for intermediate-sized projects – with capital expenditure of between €7.5m and circa €60m