EU's $908 million renewables, efficiency fund gets sign-off

EU's $908 million renewables, efficiency fund gets sign-off

London (Platts)--13Oct2006

European Union member states have signed off a Eur724 million ($908
million) budget for a renewed Intelligent Energy Europe program to support
renewables and energy efficiency projects from 2007-2013.
The IEE program is part of a wider Eur3.6 billion competitiveness and
innovation framework program approved by EU ministers at an EU competitiveness
council October 12. The European Parliament approved the CIP program in June.
The final IEE budget is about 8% lower than the Eur780 million the EC had
proposed April 2005. But it is still about two-thirds higher per year than for
the original IEE, which had a total budget of Eur250 million from 2003-06.
The aim of the IEE program is to speed up the mass market development of
renewable and energy efficiency technologies. It has three specific
sub-programs: Save, focused on improving energy efficiency and the rational
use of energy, particularly in the building and industry sectors; Altener,
focused on promoting new and renewable energy sources for centralized and
decentralized power generation, heating and cooling; and Steer, focused on
promoting renewables and energy efficiency in transport.
Renewables and energy efficiency projects may also benefit from the
Eur1.9 billion entrepreneurship and innovation program within CIP, which
earmarks Eur384 million specifically for eco-innovation projects.

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