I propose to take Questions Nos 307, 308 and 311 together.
Article 10(a)8 of the revised Emissions Trading Directive 2009/29/EC contains provision for earmarking up to 300 million ETS allowances in the New Entrants Reserve for subsidising demonstration projects in CCS and innovative renewable energy technologies. The value of funds to be committed is predicated on the actual price of carbon when the funds are committed. A carbon price of €15 per tonne would value the fund at €4.5 billion. The definition of eligible technology sub-categories was finalised by the Climate Change Committee of DG Environment with the involvement of Member States, including Ireland at a meeting in February 2010. The NER300 proposal has not yet been fully signed off on and is currently still at scrutiny stage with the European parliament.
While the technology subcategories were being finalised, potential developers in two technology areas, one in the pumped storage technology area and another in the concentrated solar panel technology area brought the relative merits of their respective technologies to the attention of the Department. The Department did not propose any amendments to the subcategories under discussion at the Management Committee meeting following these representations. The meeting in question was attended by an official of the Department who is serving as Energy Attaché in the Permanent Representation in Brussels. The official consulted with the Department in advance of the meeting. I am satisfied that the technologies provided for under the programme can accommodate innovative renewable energy technologies subject to suitable projects emerging for assessment as set out below.
There will be a single, Europe-wide call for proposals by the Commission. The Commission is currently working on the terms and conditions for this call for proposals and they have signalled to Member States that they hope to issue the call in quarter three 2010. Proposals will be sent to the individual Member States for national evaluation and short listing, before any short-listed projects are assessed by the European Investment Bank using its existing standard evaluation methods. In order to carry out the short listing, Member States will be issued with an assessment methodology by the Commission. This methodology has not yet been issued. The assessment will be made by a committee of officials from my Department and Sustainable Energy Authority of Ireland. Subject to eligible proposals emerging, each Member State is guaranteed a minimum of one and a maximum of three demonstration projects across all sub-categories. The indicative Commission timetable is as follows:
Quarter 3 2010 — publication of call in the Official Journal;
November/December 2010 — national evaluation process;
December 2010 — submission of recommended projects to EIB;
End 2011 — Final decision by European Investment Bank.
The Sustainable Energy Authority of Ireland will provide information on the scheme, once it is available from the Commission, to any interested parties. It is a matter for any individual State Agencies and other entities both public and private to determine whether they wish to apply for support under the NER300 scheme.