EBTC | 1st Feb 2022
The European Union is leading the way in championing innovative high-potential projects that can meaningfully address the climate crisis and enhance sustainability, resource efficiency and circular economy.
In line with the European Commission’s EU Green Deal, which focuses on increasing renewable energy capacity and energy efficiency in EU member states with the objective of ensuring carbon neutrality by 2050 1 , the Commission along with the European Investment Bank and Breakthrough Energy Catalyst has launched the EU-Catalyst Partnership programme. The programme was unveiled at the United Nations Climate Change Conference (COP26) held in Glasgow last year.
This pioneering programme will mobilise USD 1 billion (EUR 820 million) for innovative projects to meet its objectives, with a particular focus on high impact technologies which include clean hydrogen, sustainable aviation fuel (SAF), direct air capture and long-duration energy storage between 2022 and 2027.
This programme is now inviting applicants to submit Requests for Proposal for large-scale green energy projects based in Europe. This forms the first major milestone of the partnership. Projects selected by Catalyst from this RFP will be considered by the European Commission and the European Investment Bank to receive blended financing under the Invest EU Programme.
The programme holds key significance in the Europe-India context as well, with both countries showing increased commitment to move towards cleaner energy sources. Europe has been a major enabler in India’s rapid strides in renewable energy sources which today contributes to over 38% to the country’s energy mix. India’s experience, expertise and production capacity can also make a significant contribution to achieve the 2030 targets set under the EU Green Deal.
Both regions have made significant progress in enhancing bilateral cooperation in the areas of sustainable modernisation, urban development, R&D and clean energy. The increased commitment in these sectors was documented in the ‘India-EU Strategic Partnership: Roadmap to 2025’ following the 15 th EU-India Leaders’ Summit in 2020.
The EU-India Connectivity Partnership, endorsed by both parties in May 2021, has reaffirmed the intent of both sides to catalyse mutual cooperation in the field of digital, energy, transportation and people-to- people connectivity. Further strengthening cooperation on green energy technologies lies at the very heart of this Partnership.
Given the push towards green hydrogen and the development of advanced biofuels for the aviation sector, as well as the significant advances in energy storage solutions and technologies in both the European Union and India, this EU-Catalyst Partnership can serve as a springboard for further enhancing bilateral business, R&D and academic cooperation to address common challenges and meet common goals.
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