The Industrial Decarbonisation Bank, introduced in the Clean Industrial Deal, has the potential to be a game-changer in mobilising investments for the energy transition.
However, the current design of the Innovation Fund does not sufficiently support the direct clean electrification energy projects.
As part of the Electrification Alliance, we're calling for a stronger focus on clean electrification in the Industrial Decarbonisation Bank, and specifically urging the Commission to:
- Create a dedicated funding envelope for industrial electrification—or set clear criteria (e.g. phasing out fossil fuels) to ensure that industrial electrification projects are prioritised.
- Ensure fair competition for projects of all sizes, preventing smaller initiatives from being crowded out.
- Allow cumulation of funding, so projects with existing state aid can still access targeted support—crucial to close the funding gap and deploy capital-intensive solutions without delay.
Notes
- Since 2017, the Electrification Alliance gathers Avere (electro-mobility), Eurelectric, the European Climate Foundation, the European Copper Institute, the European Heat Pump Association, EuropeOn (electrical contractors), smartEn, SolarPower Europe, the Renewables Grid Initiative, and WindEurope, who collectively call for electricity to be recognised as the key energy carrier for an efficient and decarbonised European future.
Joint letter on Industrial Deacarbonisation Bank
Read the full letter
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