Financing

Following the proposal in the PPE (multiannual programming for energy) by the French Government to stop financial support to geothermal electricity, EGEC and the French industry call for a stable and forward looking framework.

The European Investment Bank is the largest public development bank, providing financing to a wide array of projects, notably in the energy sector. Yesterday, the EIB reached an agreement that it would stop providing funding to fossil fuel projects from 2022 owards.

The European Investment Bank is currently in the process of drafting its updated energy lending policy. As the European Union is progressing towards decarbonisation, and the 2050 horizon is nearing quickly, EGEC joined other industry associations and think tanks to call for the EIB to promptly stop funding fossil fuel projects.

Sustainable finance is an increasingly important topic in European policy making. A proposed regulation by the European Commission on this topic will have a major impact on the private financial sector, and its relationship with geothermal and other renewable energy investments.

View EGEC's answers to the Horizon Europe questionaire

The Innovation Fund is a European Financing programme that stems from the EU ETS, which aims to invest part of the revenues from the European carbon trading scheme to the development of innovative clean energy technologies.

The State Aid Guidelines on Energy and the Environment were initially release to adapt the rules on public support for the energy sector from a competition law perspective to reflect notably the framework of the 2020 EU Climate and Energy objectives. The purpose of this review is to put the State Aid framework in line with the 2030 Clean Energy for All European package, and reflect the changing market dynamics in the energy sector.

The EIB’s energy lending criteria are the set of rules, revised regularly, which the Bank sets for its activities to be compliant with the European Union’s policy objectives.

EGEC, alongside other renewable associations (Bioenergy Europe, EREF, EHPA, ESTELA, EUREC, Ocean Energy Europe, Solar Heat Europe) has co-signed a joint statement denouncing proposal to make fossil fuels eligible for funding in the ERDF.

The European Union is starting discussion on its next Multiannual Financial Framework, which governs how EU funding is allocated for the 6-years period after 2020.