The European Structural and Investment Funds
(ESIF) are the main EU project financing channel, representing 351.8 billion EUR for the 2014-2020 period. The funds are allocated to EU regions through managing authorities. The conditions of allocation of the funds vary according to the level of development of the region.
Funding in the different funds composing ESIF is mainly awarded through grants. The most relevant facilities for geothermal are:
- Cohesion Fund: available in EU Member States with GDP/capita below the EU average. EUR 63.4 billion are dedicated to projects with an environmental focus (including renewable energy and energy efficiency).
- ERDF: available in all EU Member States, for projects responding to thematic priorities a
- Such as SMEs and decarbonisation objectives. At least 12%-20% of the ERDF fund in a given region must be allocated to projects in the “decarbonisation” priority (according to the level of development of the region).
- EGEC guide on EU funding for geothermal
- Joint Statement on the Heating & Cooling Strategy