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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.
The Innovation Fund will fund up to 60% of a project’s costs and can be combined with other incentives funding sources.
Projects must happen in an EU member state, Iceland or Norway.
The following project types will be considered for funding:
Projects will be evaluated on the following criteria:
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.
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.
Valuation and consulting for financial reporting, federal, state and local tax, investment and risk management purposes.
Innovative tax advisory and compliance services encompassing property tax, sales and use tax, and site selection and incentives.
Assistance for businesses to realise economic development incentives.