Two new projects aimed at demonstrating commercially innovative ways of harnessing solar and bioenergy will be built thanks to loans totalling €45m from the InnovFin Energy Demo Projects (EDP) facility, funded under Horizon 2020.
Successful demonstration of these two projects will pave the way for future commercialisation of the technologies.
The upcoming deals were announced today (21 December) in Brussels, Belgium, by Commissioner for Research, Science and Innovation Carlos Moedas, alongside Ambroise Fayolle, vice-president of the European Investment Bank (EIB), Jean-Eric Petit, CEO of CHO-TIPER, and Frank Averdung, CEO of Oxford PV.
Under the agreements, the French project CHO-TIPER will receive a loan of up to €30m to help finance an innovative gasification plant which will convert wood residues and commercial industrial waste into electricity and heat.
Oxford PV, will get a €15m loan to set up a pilot production line for a new and highly efficient photovoltaic (PV) technology in Germany.
Moedas said: “Every investment in renewable energy takes us a step closer to fighting global climate change while creating new sustainable jobs and economic growth in Europe. I am happy to see two renewable energy pioneers getting EU support, and I hope the list of beneficiaries will continue to grow next year to bring about the much-needed energy transition. Innovative clean energy technologies are essential to overcome financing gaps and reach the market.”
The two deals follow the signing of a €10m InnovFin Energy Demo Projects loan in July 2016 with the Finnish company AW-Energy to build a full-scale demonstration unit of their WaveRoller concept in Portugal.