Innovation Fund: New Cash Grants Program for European Sustainability Projects State and Local Tax

or to bookmark this page

Click here to bookmark this page

Click here to remove bookmark

Innovation Fund: New Cash Grants Program for European Sustainability Projects

Innovation Fund: New Cash Grants Program for European Sustainability Projects

What is the Innovation Fund

Established by the directive 2003/87/EC1 (EU ETS Directive), the Innovation Fund is a cash grant program for innovative pilot and demonstration projects focused on sustainability. This first round of funding is focused on large-scale projects (i.e., EUR 7.5 million or more in project costs). The budget is estimated around EUR 10 billion (bn), depending on the carbon price for the period 2020 to 2030.The budget for this first call is estimated at EUR 1 bn.

How Much of My Project Can Be Funded

The Innovation Fund will fund up to 60% of a project’s costs and can be combined with other incentives funding sources.

What Types of Projects Qualify

Projects must happen in an EU member state, Iceland or Norway.

The following project types will be considered for funding:

  1. Low-carbon technologies in energy-intensive industries 
  2. Renewable energy 
  3. Energy storage 
  4. Carbon capture and storage (CCS) 
  5. Industrial carbon capture and use (CCU)

Projects will be evaluated on the following criteria:

  1. Effectiveness in terms of greenhouse gases (GHG) emission avoidance potential
  2. Degree of innovation of the projects compared to the state of the art
  3. Project maturity (in terms of planning, business model, financial and legal structure)
  4. Scalability, which is the technical and market potential for widespread application or replication, or for future cost reductions 
  5. Cost efficiency

The evaluations will be conducted in a two-stage process, with the successful applicants evaluated on the first three criteria, and the successful applicants invited to the second stage and evaluated on the last two criteria.

What Are the Deadlines
  • July 3, 2020 – Call opened
  • October 29, 2020 – First stage applications due
  • By Q1 2021 – Invitations to second stage
  • June 23, 2021 – Second stage applications due
  • By H2 2021 – Approved applicants notified
  • By end of 2021 – Grants awarded

How We Can Help

Duff & Phelps’ Site Selection and Incentives Advisory professionals, in conjunction with the European Funding Alliance, can help your team identify qualifying projects, prepare the grant application and presentation materials, and support your compliance efforts after the grant is awarded.

Innovation Fund: New Cash Grants Program for European Sustainability Projects 2020-08-27T00:00:00.0000000 /insights/publications/state-and-local-tax/innovation-fund-cash-grants-program-european-sustainability-projects /-/media/assets/images/publications/featured-images/2020/innovation-fund-cash-grants-program-european-sustainability-projects-300-200.jpg publication {B062D54C-1425-4A04-8F9F-95EA14068E6D} {2746A2DD-363F-4E48-8914-B4F0BDEA669C} {B082EC47-1E60-4D6E-AF50-251074575E23}

Other Areas We Can Help

Valuation Advisory

Valuation Advisory

Valuation and consulting for financial reporting, federal, state and local tax, investment and risk management purposes.

Valuation Advisory
Tax Services

Tax Services

Innovative tax advisory and compliance services encompassing property tax, sales and use tax, and site selection and incentives.

Tax Services

Insights

Valuation

The Duff & Phelps Created Value Attribution Whitepaper Series: Value Preservation in the Age of COVID-19: Assessment and Conveyance

Valuation
Valuation Insights

U.S. Security and Exchange Commission’s Fund Valuation Modernization Proposal

Valuation Insights
Valuation Insights

Highlights from the Dow Jones Industrial Average Special Report

Valuation Insights
Valuation Insights

Global Enforcement of Anti-Money Laundering Regulations

Valuation Insights