- The agreement allows EIB Advisory to further increase its impact on supporting innovative decarbonisation projects in line with the Clean Industrial Deal.
- Companies can now apply for project development assistance via the EIB Innovation Fund Project Development Assistance website.
- The renewed agreement for the Innovation Fund Project Development Assistance (PDA) is building on the success of the first Innovation Fund PDA programme.
The European Commission and the European Investment Bank (EIB) have signed an agreement renewing Project Development Assistance (PDA) under the Innovation Fund to increase technical and financial advisory support for innovative decarbonisation projects that are either not selected via the Fund or are preparing to apply. The renewed PDA agreement aligns with the EU’s Clean Industrial Deal, which aims to increase the deployment of net-zero technologies and boost the competitiveness of industries across the EU.
Under the renewed agreement, EIB Advisory will provide PDA to up to 250 projects between 2025 to 2028, offering broader sectoral coverage and a smooth application process. This builds on the initial Innovation Fund PDA programme, which supported 62 innovative projects - 16 of which have already secured Innovation Fund grants, seven more have received funding from national sources or other programmes; and one has been designated an EU project of common interest.
With the expanded scope for broader coverage, the Commission has increased the budget available for EIB Advisory and its new PDA phase from €24 million to €90 million. This will further accelerate the deployment of cutting-edge decarbonisation technologies across Europe:
- New sectors such as net-zero and low-carbon mobility including maritime, rail and road transport, and buildings have been added to the mandate following the changes to the Emission Trading System (EU ETS) which included these sectors in the Innovation Fund project scope.
- New Key Performance Indicators (KPIs) have been added to help achieve geographical and sectoral balance and to promote small–scale projects as well as support immature projects.
The PDA contributes directly to the EIB’s strategic goals in climate action and innovation, reinforcing the shared commitment to support the development of high-impact projects that will help the EU meet its climate neutrality target and foster the growth of a sustainable and clean industrial base.
EIB Advisory services will be more easily accessible as projects can receive PDA through direct requests (‘open PDA’), in addition to the standard support mechanisms linked to Innovation Fund calls. This flexibility enhances the accessibility of the programme and allows for faster and more tailored support to promising innovative clean tech and industrial decarbonisation projects.
Under the open PDA, promoters will be able to contact the EIB advisory services directly to receive advice. EIB Advisory will carry out an assessment to identify the eligible projects’ needs and the potential of the PDA to address these, substantially increase the maturity of the project and with it the chances of success in relevant Innovation Fund calls. PDA will be awarded on a ‘first-come-first-served’ basis following this assessment.
For more information
EIB Innovation Fund Project Development Assistance website
Commissioner Hoekstra said:
"Through the Project Development Assistance from the Innovation Fund the EIB is providing further technical and financial help for promising decarbonisation projects. We lay the foundations of the innovative and competitive industrial base of tomorrow. This proves the EU’s long-term commitment to industrial decarbonisation and innovation. We are confident that the EIB with this renewed agreement will continue delivering a successful tailor-made support to Innovation Fund projects."
Christoph Kuhn, EIB Deputy Director General Projects Department said:
"With the renewed PDA agreement, EIB Advisory is not only building on past success. It’s setting a new standard for how Europe can support its most innovative and transformative clean technologies."