- Press Releases
January 13 (Renewables Now) - Bill Gates-backed green energy finance vehicle Breakthrough Energy Catalyst (BEC) this week launched a request for proposals (RfP) to select and support Europe-based projects focused on four key low-carbon technologies -- clean hydrogen, long-duration energy storage, sustainable aviation fuel and direct air capture.
The RfP sets in motion BEC’s partnership with the European Commission (EC) and the European Investment Bank (EIB) that the parties struck at COP26 in Glasgow to mobilise USD 1 billion (EUR 871.8m) of funding in emerging and transformative green technologies between 2022 and 2027.
Apart from having to belong in one of the four above-mentioned groups, eligible projects also have to be commercially viable and without ability to access capital through other financing mechanism, BEC said.
The selected projects stand to receive equity investment, grant funding or off-take agreements with BEC partners, and be further considered by EC and EIB to obtain blended financing under the InvestEU Programme.
Projects have to be located in eligible European countries, which include EU member states, Iceland and Norway.
The RfP is expected to remain open for submissions until December 31, 2027, which set as the close date, or until all BEC funds a fully committed.
Submission details and the timetable are available at this link: https://www.breakthroughenergy.org/catalyst-eu-rfp