Key Takeaways

• The European Commission has selected 61 projects across 18 countries for €2.9 billion in funding under its maiden Innovation Fund (IF24) call for net-zero technologies  
• Chosen projects span floating solar, agrivoltaics, PV recycling, thermal storage, and hybrid energy systems, among other technologies to support decarbonization 
• The IF24 call drew €21.7 billion in funding requests, showing strong industry interest and innovation strength across Europe, according to the commission  

The European Commission has picked 61 projects, including floating solar and agrivoltaics, for €2.9 billion in funding out of 359 applications received in response to its 1st call for net-zero technologies under the Innovation Fund (IF24) in December 2024. 

IF24 was launched with a funding budget of €2.4 billion, but the applications submitted sought €21.7 billion in support, over 9× the available budget. The commission finally selected 61 projects spread across 19 industrial sectors and 18 countries, for €2.9 billion in funding support.

Among the winning projects is NotNukeOne, a large-scale agrivoltaic first-of-its-kind project in Finland. It introduces an advanced single-axis tracking system and a battery energy storage system (BESS) combined with an AI platform to improve efficiency and grid stability. It will also incorporate an AI-optimized energy trading component to minimize price volatility. It will be a replicable concept for Europe.  

INSPIRE-PV, which stands for INdustrial Scale-up of high-value PV REcycling, will deploy the world’s 1st large-scale high-value PV recycling facilities across 2 sites in France and Spain. It will use pyrolysis, chemical separation, and advanced sorting technologies to achieve high material recovery rates and deliver ultra-pure silicon and high-purity silver. 

The GREEN HEAT ASTURIAS project in Spain combines onsite PV generation, a high-efficiency Thermal Energy Storage (TES) unit, and a plant control and energy management system (EMS). It will deliver an industrial-scale renewable heating model to provide short-term green alternatives to the industrial customers and lower their reliance on natural gas.

WATTRAXIS will install a next-generation floating solar PV project on a working quarry site in France to avoid land-use conflicts. It will utilize an east-west orientation, a motorized maintenance system, and shared anchoring. The project has been selected for its aim to deliver a replicable, low-environmental impact floating PV model for faster permitting and smoother community acceptance compared to other greenfield alternatives. 

LEYMEL, or Local Energy sYstem with Modular and Efficient hydro Loop, will deploy a hybrid energy system combining floating PV with small-scale pumped-hydro energy storage (PHES) to deliver long-duration storage and flexibility. It leverages existing reservoirs across Europe. 

The awarded projects were selected for their potential to reduce greenhouse gas emissions, degree of innovation, project maturity, replicability, and cost efficiency to contribute to the bloc’s ambition to decarbonize. 

“Today’s selection shows that Europe is turning its climate ambitions into industrial reality. The response to this call demonstrates the strength of our innovators and the determination of our companies to lead the global race for net-zero technologies,” said EU Commissioner for Climate, Net Zero and Clean Growth, Wopke Hoekstra.