Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

First Risk Sharing Financing Facility projects focus on energy technologies

02.10.2007
The European Commission and the European Investment Bank (EIB) have announced the first round of projects to receive funding under the new Risk Sharing Finance Facility (RSFF), which was launched earlier this year.

A total of €359 million has been allocated to seven projects, most of which involve renewable energy technologies or energy efficiency. Renewable energy technologies are one of the bank's priority lending objectives for 2007.

Launched in June of this year, the RSFF was set up with the goal of improving access to financing for the promoters of research and innovation projects. Currently the uncertain, risky nature of these initiatives makes it harder for them to attract financing. The scheme is financed jointly by the European Commission (through the Seventh Framework Programme) and the EIB.

According to the European Commission and the EIB, there has been significant demand for funding in a range of priority sectors under the Lisbon Agenda, as well as from European Technology Platforms (ETPs) and Joint Technology Initiatives.

Two of the projects slated to receive RSFF funds involve solar thermal power plants in Spain. The Andasol Solar Thermal power plant, which lies some 60 km southeast of Granada, will receive €120 million of funding. The plant consists of a field of parabolic troughs along which a vacuum tube circulates a fluid which heats up to over 400°C. This heat is then used to produce power in a vapour turbine.

The second solar plant, the Solucar Solar Thermal power plant near Seville, uses an alternative technology. Here, a field of mirrors will concentrate the sun's rays onto a thermal receiver mounted on the top of a tower. It will receive funds of €50 million.

Meanwhile, Spanish company Abengoa is set to receive €49 million from the RSFF for projects in a range of renewable energy sectors, including bioethanol, hydrogen and fuel cells.

AVL is an Austrian technology and engineering specialist focusing on powertrain/engine and related technologies and is a member of the ETP for embedded systems (ARTEMIS). Its €30 million loan will support the development of clean and efficient automotive power trains. The project also involves research into hydrogen fuel technologies and energy technologies designed to improve energy efficiency.

A €30 million loan also goes to German company Eberspächer, which will use the funds to further develop its work in exhaust technology and heating systems for cars and trucks.

Biotechnology is the subject of one of the projects financed; Spanish firm Zeltia will receive €30 million to develop and commercialise potential cancer drugs. As Zeltia's work focuses on rare or orphan diseases, funding is sometimes hard to come by, making the RSFF loan especially valuable.

The last loan goes to a research and innovation facility for the automotive sector. This facility involves a guarantee scheme which will help automotive suppliers finance their research activities by the sale and lease-back of their intellectual property rights to Deutsche Leasing, a leading leasing institute in Germany.

Virginia Mercouri | alfa
Further information:
http://cordis.europa.eu/news

More articles from Power and Electrical Engineering:

nachricht Researchers take next step toward fusion energy
16.11.2017 | Texas A&M University

nachricht Desert solar to fuel centuries of air travel
16.11.2017 | SolarPACES

All articles from Power and Electrical Engineering >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Nanoparticles help with malaria diagnosis – new rapid test in development

The WHO reports an estimated 429,000 malaria deaths each year. The disease mostly affects tropical and subtropical regions and in particular the African continent. The Fraunhofer Institute for Silicate Research ISC teamed up with the Fraunhofer Institute for Molecular Biology and Applied Ecology IME and the Institute of Tropical Medicine at the University of Tübingen for a new test method to detect malaria parasites in blood. The idea of the research project “NanoFRET” is to develop a highly sensitive and reliable rapid diagnostic test so that patient treatment can begin as early as possible.

Malaria is caused by parasites transmitted by mosquito bite. The most dangerous form of malaria is malaria tropica. Left untreated, it is fatal in most cases....

Im Focus: A “cosmic snake” reveals the structure of remote galaxies

The formation of stars in distant galaxies is still largely unexplored. For the first time, astron-omers at the University of Geneva have now been able to closely observe a star system six billion light-years away. In doing so, they are confirming earlier simulations made by the University of Zurich. One special effect is made possible by the multiple reflections of images that run through the cosmos like a snake.

Today, astronomers have a pretty accurate idea of how stars were formed in the recent cosmic past. But do these laws also apply to older galaxies? For around a...

Im Focus: Visual intelligence is not the same as IQ

Just because someone is smart and well-motivated doesn't mean he or she can learn the visual skills needed to excel at tasks like matching fingerprints, interpreting medical X-rays, keeping track of aircraft on radar displays or forensic face matching.

That is the implication of a new study which shows for the first time that there is a broad range of differences in people's visual ability and that these...

Im Focus: Novel Nano-CT device creates high-resolution 3D-X-rays of tiny velvet worm legs

Computer Tomography (CT) is a standard procedure in hospitals, but so far, the technology has not been suitable for imaging extremely small objects. In PNAS, a team from the Technical University of Munich (TUM) describes a Nano-CT device that creates three-dimensional x-ray images at resolutions up to 100 nanometers. The first test application: Together with colleagues from the University of Kassel and Helmholtz-Zentrum Geesthacht the researchers analyzed the locomotory system of a velvet worm.

During a CT analysis, the object under investigation is x-rayed and a detector measures the respective amount of radiation absorbed from various angles....

Im Focus: Researchers Develop Data Bus for Quantum Computer

The quantum world is fragile; error correction codes are needed to protect the information stored in a quantum object from the deteriorating effects of noise. Quantum physicists in Innsbruck have developed a protocol to pass quantum information between differently encoded building blocks of a future quantum computer, such as processors and memories. Scientists may use this protocol in the future to build a data bus for quantum computers. The researchers have published their work in the journal Nature Communications.

Future quantum computers will be able to solve problems where conventional computers fail today. We are still far away from any large-scale implementation,...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Ecology Across Borders: International conference brings together 1,500 ecologists

15.11.2017 | Event News

Road into laboratory: Users discuss biaxial fatigue-testing for car and truck wheel

15.11.2017 | Event News

#Berlin5GWeek: The right network for Industry 4.0

30.10.2017 | Event News

 
Latest News

Previous evidence of water on mars now identified as grainflows

21.11.2017 | Physics and Astronomy

NASA's James Webb Space Telescope completes final cryogenic testing

21.11.2017 | Physics and Astronomy

New catalyst controls activation of a carbon-hydrogen bond

21.11.2017 | Life Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>