contents table Logo Lexparency.org lexp
Establishing a programme to aid economic recovery by granting Community financial assistance to projects in the field of energy
Article 3

Article 3 — Budget

  1. The financial envelope for the implementation of the EEPR for 2009 and 2010 shall be EUR 3980000000, allocated as follows:
    1. gas and electricity infrastructure projects: EUR 2365000000;
    2. offshore wind energy projects: EUR 565000000;
    3. carbon capture and storage projects: EUR 1050000000.
  2. Individual legal commitments under Chapter II implementing the budgetary commitments made in 2009 and 2010 shall be made by 31 December 2010. Individual legal commitments under Chapter IIa shall be made by 31 March 2011.
  3. The financial intermediaries described in Annex II shall endeavour to allocate all the funding from the Union contribution available in the facility to investment projects and to technical assistance for energy efficiency and renewable energy projects by 31 March 2014. No funding from the Union contribution shall be allocated after that date. All funding from the Union contribution not allocated by the financial intermediaries by 31 March 2014 shall be returned to the general budget of the Union. The funding from the Union contribution allocated to investment projects shall remain invested for a specified length of time that may not extend beyond 31 March 2034. The Union shall be entitled to returns on its investment in the facility throughout the lifetime of the facility, in proportion to its contribution to the facility and in accordance with its shareholder rights.