Proposals for a geo-plutonic power plant from Earth Energy Hungary and a bioenergy plant from GREEN-IDS Technology were submitted to the European Commission last week; at stake is €39.3 million in funding, which was rewarded to the EU-FIRE EGS Hungary Consortium after the first round of proposals.
The decision of the winning tender is scheduled to be announced on September 3, 2014.
NER300 is an effort to establish a demonstration program encouraging best practices in alternative energy source provision. Supported under auspices of the program are works including Carbon Capture and Storage (CCS) technologies and Renewable Energy Source (RES) technologies. Some €300 million, garnered through the EU Emissions Trading System, is to be rewarded in Europe in total.
The NER300 is part of the greater EU Committee program “20 by 20”, which seeks to have 20% of EU-generated energy from renewable resources by the end of the decade. The “20 for 20” directive calls for Hungary’s share of renewable energy to reach 13% by 2020, but the government is currently working toward its own target of 14.65% set out in the Renewable Energy Action Plan of 2010.
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