EU Innovation Fund launches REPowerEU application round for large projects

The EU Innovation Fund’s third application round for large projects began on 3 November 2022. A total of EUR 3 billion is available for investments in decarbonisation, electrification of industry, hydrogen, and manufacturing and piloting of energy technologies. The deadline for applications is 16 March 2023.

This call for applications under the REPowerEU plan covers the following categories:

• General decarbonisation projects (EUR 1 billion). The category includes innovative projects related to renewable energy, energy-intensive industries, energy storage or carbon capture, use and storage, and projects that replace carbon-intensive products, such as low-carbon transport fuels.
• Electrification in industry and hydrogen (EUR 1 billion). In this category, funding is available to innovative electrification projects that replace the use of fossil fuels in industry, production of renewable hydrogen or the use of hydrogen in industry;
• Clean technology manufacturing (EUR 700 million) seeks innovative projects for manufacturing of components and equipment for electrolysers, fuel cells, renewable energy, energy storage and heat pumps.
• Mid-sized pilot projects (EUR 300 million). In this category, funding is available for highly innovative breakthrough technologies that have not yet been commercialised.

The European Commission’s Directorate-General for Climate Action (DG CLIMA) and the European Climate, Infrastructure and Environment Executive Agency (CINEA) will organise webinars on the calls at the end of November.

The Innovation Fund has already funded several Finnish projects. In the first application round, Neste Oyj received EUR 88 million for the development of the Porvoo refinery to advance green hydrogen production and the capture and storage of carbon dioxide. In the second application round, Neste Oyj was granted EUR 135 million to develop the chemical recycling capacity at the Porvoo refinery. A project by Metsä Spring also received funding in the second round.