Brussels will auction 1,000 million to promote the electrification of industrial heat

It will serve as a pilot for a future Industrial Decarbonisation Bank

Brussels will take a key step in its climate strategy by launching an auction worth 1,000 million euros to finance projects that electrify industrial heat or generate it with renewable sources. The auction, called IF25 Heat Auction, will serve as a pilot for a future Industrial Decarbonisation Bank, announced by the Commission within the framework of the Clean Industrial Deal. The objective: to financially support companies that adopt clean technologies to generate industrial heat, one of the most intensive areas in greenhouse gas (GHG) emissions in Europe. Currently, 75% of industrial heat in Europe is generated by burning fossil fuels. Only 4% comes from clean electricity sources. This dependence makes the sector an urgent priority to achieve the objectives of climate neutrality by 2050.

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