The EU has joined forces with the European Investment Bank (EIB) and Breakthrough Energy Ventures to establish a €100m ($112m) clean energy investment fund. The fund will be managed by an independent board of directors that includes representatives from both public and private sector investors, including companies such as BP, Shell and Engie, which have invested in renewable energy. The new fund will contribute to fulfilling the EU's commitments outlined in the Commission's “Clean Energy for All Europeans” package, including proposals designed to support clean energy innovation, increase energy efficiency, boost renewable energy usage and reform the European energy market. Investments are set to commence in H2 2019, with EU member states able to apply for funding under the organisation's Horizon 2020 initiative.
The EU has joined forces with the European Investment Bank (EIB) and Breakthrough Energy Ventures to establish a €100m ($112m) clean energy investment fund. The fund will be managed by an independent board of directors that includes representatives from both public and private sector investors, including companies such as BP, Shell and Engie, which have invested in renewable energy. Investments are set to commence in H2 2019, with EU member states able to apply for funding under the organisation's Horizon 2020 initiative.