“NER300” is the nickname of a financing instrument managed jointly by the European Commission, European Investment Bank and Member States, so-called because Article 10(a) 8 of the revised Emissions Trading Directive 2009/29/EC contains the provision to set aside 300 million allowances (rights to emit one tonne of carbon dioxide) in the New Entrants’ Reserve of the European Emissions Trading Scheme for subsidising installations of innovative renewable energy technology and carbon capture and storage (CCS). The allowances will be sold on the carbon market and the money raised – which could be as much as 4.5 bn EUR if each allowance is sold for 15 EUR – will be made available to projects as they operate.
NER300.com is an unofficial, independent portal dedicated to renewable energy and grid integration projects wishing to access this instrument. The NER300 funding is intended to accelerate the deployment of low carbon energy across Europe and support the EU’s medium and long-term climate goals.
The Directorate-General for Climate Action (“DG CLIMA”) was established in February 2010, climate change being previously included in the remit of DG Environment of the European Commission. It leads international negotiations on climate, helps the EU to deal with the consequences of climate change and to meet its targets for 2020, as well as develops and implements the EU Emissions Trading System.
DG CLIMA develops and implements the EU Emissions Trading System (“EU ETS”) and promotes its links with other carbon trading systems with the ultimate aim of building an international carbon trading market. Furthermore, it monitors the implementation of Member States’ emission reduction targets in the sectors outside the EU ETS.