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Innovation Fund – Project development assistance (European Investment Bank)

The Innovation Fund’s Project Development Assistance, managed by the European Investment Bank (EIB), provides targeted support to innovative projects that contribute to the EU's climate goals. This assistance helps project developers to refine and scale their projects, ensuring they meet the necessary criteria for successful implementation. The focus is on large-scale, high-impact initiatives in renewable energy, carbon capture and storage, energy storage, and other technologies that reduce greenhouse gas emissions. The goal is to accelerate the development and deployment of breakthrough innovations that support the EU’s transition to a low-carbon economy.

Programme name

Innovation Fund – Project development assistance (European Investment Bank)

Objective(s) and scope

The EIB offers support to the Innovation Fund through Project Development Assistance (PDA). The PDA will offer tailor-made support to selected projects that applied to the Innovation Fund (IF) but were not awarded a grant, with the goal to increase project maturity for subsequent IF calls. This is done through high-quality technical and financial advisory support tailored to the project needs. The PDA also aims to support projects to improve their chances for financial closing and entry into operation.

The fund will provide around €40 billion of support over 2020-2030 (at €75/tCO2), depending on the carbon price, for the commercial demonstration of innovative low-carbon technologies, aiming to bring industrial solutions to the market to decarbonise Europe and support the transition to climate neutrality while fostering its competitiveness.

The Innovation Fund is implemented by the European Commission with the assistance of the European Climate, Infrastructure and Environment Executive Agency (CINEA). The Project Development Assistance is implemented through the European Investment Bank (EIB).

Type of finance provider

Public

Administering body

European Investment Bank (EIB) (directly lending) or via financial intermediaries.

Financing product

Tailor-made support

Financing value

Not specified

Eligible countries

EU Member States

Eligibility criteria (if available)

Projects submitted under the IF calls for proposals that are not selected for grant funding will be proposed by CINEA evaluators to receive PDA, if they meet the criteria, as defined in the call, and if they show the potential for improving their maturity through specific PDA.

Further information on eligibility criteria

More information on next Innovation Fund calls can be found here: Calls for proposals - European Commission

Application period

Permanently open

Technology type

Not specified

Technology readiness level (TRL)

Not specified

Project example(s)

List of small-scale and large-scale PDA awarded projects.

Additional information

Eligible projects proposed by CINEA are reviewed and shortlisted by the EIB, based on the level of maturity as identified during the evaluation process.

The shortlisted projects are then submitted to the European Commission for approval. The EIB technical and financial experts are responsible for offering technical support to approved projects, with the support of external consultants. Indicative examples of PDA services are available below.

Links

Innovation Fund - Project Development Assistance

Our work including information on the priorities of the EIB.

Contacts

Contact us

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