NER300 is the name of a financing instrument managed jointly by the European Commission, European Investment Bank and Member States. Article 10(a) 8 of the revised Emissions Trading Directive 2009/29/EC contains the provision to set aside 300 million allowances (rights to emit one tonne of carbon dioxide) in the New Entrants' Reserve of the European Emissions Trading Scheme for subsidising installations of innovative renewable energy technology and carbon capture and storage (CCS). The allowances will be sold on the carbon market and the money raised - which could be as much as 4.5 bn EUR if each allowance is sold for 15 EUR - will be made available to projects as they operate.
During 2010, the European Commission issued its first call for proposals to the NER300 program. The deadline for applications to responsible national authorities was on February 9th, 2011. Deadline for final submission to the EU is on May 9th, 2011. The European Commission aims at making decisions on the selection of co-funded projects in the second half of 2012.
The Hexicon platform is now subject to NER300 applications in three EU member states, Sweden, Cyprus & Malta.
For more information on the NER300 process, please visit the official European Commission website.
In this NER300 application, the following companies act as contractors, subcontractors, consultants and partners to Hexicon:
