The Innovation Fund, one of the largest EU funding programs for the demonstration of innovative low-carbon technologies contributing to greenhouse gas (GHG) reduction, has published first call for proposals.

The Innovation and Networks Executive Agency (INEA) is responsible for the implementation of the calls.

The call for proposals targets innovative renewable energy and energy storage technologies and projects are selected according to the following criteria:

• Effectiveness of greenhouse gas emissions avoidance;
• Degree of innovation;
• Project maturity;
• Scalability;
• Cost efficiency.

The maximum co-financing rate is 60% of the relevant costs of projects, out of which up to 40% need not be dependent on verified avoidance of greenhouse gas emissions, provided that pre-determined milestones, taking into account the technology deployed, are attained.

For large-scale projects the application process is in two phases: expression of interest and full application.

For small-scale projects, the application process will consist only of one stage.