Innovation Fund 2024 – Net Zero Technologies – General Decarbonisation (Large-Scale Projects)

The Innovation Fund 2024 – Net Zero Technologies – General Decarbonisation (Large-Scale Projects) is a targeted call under the EU's Innovation Fund, specifically focusing on supporting large-scale projects that can significantly contribute to the EU’s net-zero ambitions. The initiative provides financial support to innovative low-carbon technologies that have a substantial potential to reduce greenhouse gas emissions across various sectors, aiming to accelerate the green transition and enhance sustainability.

Programme name

Innovation Fund 2024 Net Zero Technologies – General decarbonisation – Large-Scale Projects (INNOVFUND-2024-NZT-GENERAL-LSP)

Objective(s) and scope

These topics aim to support and advance innovative low-carbon technologies and processes to significantly mitigate climate change in sectors listed in Annex I and Annex III to the EU ETS Directive 2003/87/EC, promoting sustainable development and technological leadership within Europe.

The following activities are in scope under this topic:

Innovation in Low-Carbon Technologies and Processes: activities that support innovation in low-carbon technologies and processes in sectors listed in Annex I and Annex III to the EU ETS Directive 2003/87, including projects focusing on the utilization of waste heat and improvements in electrification and energy efficiency within industrial processes and energy systems; activities involving environmentally safe carbon capture and utilisation (CCU) that significantly mitigate climate change, development of products that substitute carbon-intensive ones produced in sectors listed in Annex I to the EU ETS Directive;
Carbon Capture and Storage (CCS): activities supporting the construction and operation of projects focused on the environmentally safe capture and geological storage of CO2 (CCS);
Innovative Renewable Energy and Energy Storage Technologies: activities supporting the construction and operation of innovative renewable energy and energy storage technologies.

Type of finance provider

Public

Administering body

European Climate, Infrastructure and Environment Executive Agency (CINEA)

Financing product

The grant will be a lump sum grant.

Financing value

No fixed amount per project. The total indicative budget for this call (Large-Scale Project) is EUR 1,200 million.

Eligible countries

All EU and EEA countries, Other non-EU associated countries.

Eligibility criteria (if available)

In order to be eligible, the applicants (beneficiaries and affiliated entities) must:

be legal entities (public or private bodies);
be established in one of the eligible countries: any country in the world.

Projects must be located in EU Member States or EEA countries (i.e. Norway, Iceland or Liechtenstein). Projects may also be located in Northern Ireland on the condition that they concern the generation, transmission, distribution or supply of electricity.

For maritime sector projects:

when the projects concern investments on ships, those ships must carry a flag of an EU Member States or an EEA country and call ports under the jurisdiction of an EU Member State or EEA country on regular basis (at least 15%), or must call ports under the jurisdiction of an EU Member State or EEA country on a regular basis (at least 30% over 2 years); or perform service or support activities in ports under the jurisdiction of an EU Member State or EEA country;
when the projects concern investments in ports infrastructure, the ports must be under the jurisdiction of an EU Member States or an EEA country.

For Large-Scale Projects, only projects with a capital expenditure above EUR 100 million are eligible. Capital expenditure means all project costs (as defined in the Guidance on the relevant cost methodology)