Feb 06 2012

EU announcement due on number of projects remaining in competition

An announcement is expected from the EC today or tomorrow on the number of NER300 project proposals to have passed the EIB’s technical and financial due diligence assessment. The EIB, with the help of external consultants, has performed such assessments on proposals over the last nine months. Those that passed will now be subject to an eligibility check in which the EC will, among other things, determine whether a project is sufficiently innovative to qualify for funding.

A representative of DG CLIMA, speaking at the open meeting on 19 Nov 2010 said, “Those projects that fail due diligence will be informed fairly soon [after the end of that part of the selection process].” Projects still in the competition, he said, will have to wait until the very end to know if they have been lucky.

Among the projects expected to drop out of the competition are two CCS projects (Longannet and Jänschwalde) and one RES project (Britannia project – 10 MW offshore wind turbines).

  1. Update 26 Mar 2012

    In a meeting with Member States on 22 Mar the EC revealed that 10 renewable energy projects had failed the EIB’s technical and financial due diligence assessment. It confirmed the withdrawal of two CCS projects and one renewable energy project, consistent with the remark above.