The EU ETS Innovation Fund has recently become fully-fledged operational vehicle to supply projects with money.
On 26 October 2021 the European Commission launched the second call for large-scale projects with a budget of €1.5 billion (the deadline for submission of applications is 3 March 2022 with the results of the evaluation to be determined in the third quarter of 2022).
Just days ago, on 16 November 2021 Innovation Fund distributed over €1 billion between innovative large-scale projects.
This pace is quite impressive given that only on 4 November 2021 the first three grants from Innovation Fund were awarded (totalling EUR 12.7 million, small-scale projects were at issue this turn).
Grants for project development assistance are also at stake (EUR 1.7 million distributed on 4 November 2021 between 10 projects - the European Investment Bank (EIB), which provides the service, helps them advance their maturity through tailored assistance, such as improving their technical documentation and financial models).
In parallel, Fit for 55 package increases the Innovation Fund’s resources and, apart from traditional projects portfolio, brings Carbon Contracts for Difference (CCfDs) to the scene.