Commission supports the Clean Energy Technologies Demonstration Challenge with over €28 billion by 2027

Today, during the Global Clean Energy Action Forum, the first-ever joint convening of the Clean Energy Ministerial and the Mission Innovation ministerial, in Pittsburgh, United States, the Commission has reiterated its support to the Clean Energy Technologies Demonstration Challenge and will contribute to it with over €28 billion by 2027 to advance clean energy innovation and deployment, mainly in hard-to-abate sectors, through Horizon Europe, the Innovation Fund and InvestEU.

By supporting the Clean Energy Technologies Demonstration Challenge, countries around the world have set as a goal to collectively raise $90 billion in public investments, which will in turn leverage additional private investments, for large-scale clean energy technology demonstration projects to be completed this decade. This will accelerate the commercialisation of new technologies, enable the EU to break dependence on unabated, volatile fossil fuels and advance an inclusive and equitable clean energy transition.

One example is the world’s first clean hydrogen steel plant, coordinated by the Hybrit project, that will replace coal-based blast furnaces with direct hydrogen-based reduction technology, with 500 MW fossil-free electrolysis. The project has been awarded funding under the first call for large-scale projects of the Innovation Fund.

Ursula von der Leyen, President of the European Commission, said in her message to the Forum:

I am pleased to support the Clean Energy Technologies Demonstration Challenge. Research and innovation will propel the clean energy transition that is more needed than ever. And rapidly. The European Commission will contribute with over €28 billion by 2027 to advance clean energy innovation and deployment, particularly in hard-to-abate sectors. Our EU programmes are geared up for this. And much more. Together with our EU Member States, we expect ‘Team Europe’ to make a leading contribution to the Clean Energy Technologies Demonstration Challenge.