New agreement between the European Commission and the European Investment Bank on reinforcing the ELENA facility

On 2nd of May, the European Commission and the European Investment Bank (EIB) signed an agreement on reinforcing the European Local Energy Assistance facility with a budget of €30 million for new projects.  In particular, €20 million will be dedicated to projects on energy efficiency and renewable energy, and €10 million to sustainable urban transport and mobility projects.

The ELENA facility was established in 2009, it is managed by the EIB and financed by the EU research and innovation funding programme – Horizon 2020. ELENA provides grant funding to large- scale investment programmes in the area of energy efficiency, distributed renewables, and sustainable urban transport, and has so far awarded around €100 million of EU support. ELENA funding is allocated on a first-come-first-served basis for the development of projects leading to investments above €30 million, and covers up to 90% of eligible project development costs.

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