SUBSCRIBE
PROFILE

EU commits €247 million for climate

The European Union (EU), through the European Commission, is announcing a new climate funding commitment.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25£/month*

*billed annually at 99£/year for the first year then 149,00£/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99£/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2£/month*
then 14.90£ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

The European Union (EU), through the European Commission, announces a new commitment to climate funding. Thus, the European Investment Fund provides funding for a total amount of €247 million.

European funding

The European Union, during the COP27 in Egypt, announced that these funds come from the InvestEU program. It uses private and public funding to support EU policies. Thus, the European Commission states:

“At the COP27 climate conference, the European Investment Fund (EIF), Europe’s largest venture capital and private equity funder, signed investments totaling €247 million to enable five investment funds to support €2.5 billion in climate action investments, helping to achieve the European Union’s climate and energy goals.”

Wind capacity is expected to increase by 301% between 2022 and 2050. For its part, the solar capacity would record an increase of 408% over the same period. This increase fully reflects the increased ambitions of the REPowerEU program.

Indeed, wind and solar together are expected to account for 70% of the combined electricity demand. Wind power reaching 722GW and solar 879GW. In addition, water, food, ocean activities at the center of the concerns of the European Union.

Multiple funds

Of this total of €247 million, the European Union announces that the Eiffel Transition Infrastructure Fund will receive €75 million. The French fund will provide equity bridge financing. It will be used for renewable energy infrastructure in Europe.

75 million goes to Suma Capital Climate Impact Fund III. This will make it possible to support projects related to renewable energy, energy efficiency and intelligent mobility. In addition, waste and water management also includes this amount

39 million goes to Zintinus Fund I, which focuses on sustainable food innovation in Europe. 30 million will go to the Dutch fund PureTerra Ventures I supporting technologies that improve water use, conservation and treatment. Finally, the Growth Blue Fund I will receive €28 million from the European Union to support sustainable economic activities at sea.

 

 

  • Popular on energynews.pro
Canadian oil sands emissions rose less than 1% in 2024 despite higher output
Element One secures acquisition option on geological hydrogen extraction technology
T1 Energy raises $72mn through direct offering to US institutional investors
Vema Hydrogen joins California public hydrogen programme with its EMH technology
Italian court reviews extradition of Ukrainian suspect in Nord Stream sabotage
Germany moves to ease grid regulation to attract infrastructure investors
The German regulator is preparing a reform favourable to grid operators, aiming to adjust returns and efficiency rules from 2028 for gas pipelines and 2029 for electricity networks.
Bill Gates calls for climate priorities to refocus on human welfare
Bill Gates urges governments and investors to prioritise adaptation to warming effects, advocating for increased funding in health and development across vulnerable countries.
Malaysia strengthens public investment in gas and solar energy
The Malaysian government plans to increase public investment in natural gas and solar energy to reduce coal dependency while ensuring energy cost stability for households and businesses.
Structural imbalances hinder the efficiency of public climate finance
The study by Özlem Onaran and Cem Oyvat highlights structural limits in public climate finance, underscoring the need for closer alignment with social and economic goals to strengthen the efficiency and resilience of public spending.
ExxonMobil sues California to block climate disclosure laws
Oil major ExxonMobil is challenging two California laws requiring disclosure of greenhouse gas emissions and climate risks, arguing that the mandates violate freedom of speech.
Norway prevails at ECHR over offshore oil licensing dispute
The European Court of Human Rights ruled that Norway’s deferral of a climate impact assessment did not breach procedural safeguards under the Convention, upholding the country’s 2016 oil licensing decisions.
Singapore invests heavily in civil nuclear power and regional energy networks
Singapore strengthens its energy strategy through public investments in nuclear, regional electricity interconnections and gas infrastructure to secure its long-term supply.
Gabon invests FCFA560bn to regulate its gradual exit from oil
As oil production declines, Gabon is relying on regulatory reforms and large-scale investments to build a new growth framework focused on local transformation and industrialisation.
Cameroon to exempt biofuel equipment from customs duties starting 2026 to boost the sector
Cameroon will adopt a customs exemption on industrial equipment related to biofuels starting in 2026, as part of its new energy strategy aimed at regulating a still underdeveloped sector.
Bolivia allows private fuel imports to address supply crisis
Facing a persistent fuel shortage and depleted foreign reserves, the Bolivian parliament has passed an exceptional law allowing private actors to import gasoline, diesel and LPG tax-free for three months.
Ghana targets $16 billion in oil revenues despite declining production
Ghana aims to secure $16 billion in oil revenues over ten years, but the continued drop in production raises doubts about the sector’s long-term stability.
Kinshasa and Vingroup sign agreement for major urban and energy project
The government of Kinshasa has signed a memorandum of understanding with Vietnam's Vingroup to develop a 6,300-hectare urban project and modernise mobility through an electric transport network.
Rising electricity demand in Texas reshapes ERCOT’s energy mix
ERCOT’s grid adapts to record electricity consumption by relying on the growth of solar, wind and battery storage to maintain system stability.
France increases CEE funding to over €8bn for 2026
The French government will raise the energy savings certificate budget by 27% in 2026, leveraging more private funds to support thermal renovation and electric mobility.
France: Minister Barbut defends an energy mix combining nuclear and renewables
Facing opposition criticism, Monique Barbut asserts that France’s energy sovereignty relies on a strategy combining civil nuclear power and renewable energy.
Brussels renews push to end daylight saving time over energy inefficiency
The European Commission is reviving efforts to abolish daylight saving time, supported by several member states, as the energy savings from the practice are now considered negligible.
UNEP, EU and Japan frame methane: 12% responses, LNG under pressure
Rising responses to UNEP’s satellite alerts trigger measurement, reporting and verification clauses; the European Union sets import milestones, Japan strengthens liquefied natural gas traceability; operators and steelmakers adjust budgets and contracts.
France: MPs approve stricter electricity price controls in budget committee
The Finance Committee has adopted an amendment to overhaul electricity pricing by removing the planned redistribution mechanism and capping producers' profit margins.
Brussels launches seven measures to reduce energy prices in Europe
The European Commission unveils a seven-point action plan aimed at lowering energy costs, targeting energy-intensive industries and households facing persistently high utility bills.
Energy remains a political priority for the European Union in 2026
The European Commission plans to keep energy at the heart of its 2026 agenda, with several structural reforms targeting market security, governance and simplification.

All the latest energy news, all the time

Annual subscription

8.25£/month*

*billed annually at 99£/year for the first year then 149,00£/year ​

Unlimited access - Archives included - Pro invoice

START - 99£/year

Monthly subscription

Unlimited access • Archives included

5.2£/month*
then 14.90£ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.