22 October 2010 – Responding to a deal between the European Council and Parliament to free up €146 million of uncommitted EU funds (1) to finance energy efficiency and renewable energy initiatives, South East Green Euro-MP Keith Taylor said:

“It has been a tough struggle, but this deal is an important breakthrough, which will give a boost to energy efficiency and renewable energy in the UK and across Europe.

“Investing in energy efficiency and renewables is the most cost-effective means of meeting our energy security and climate change challenges – as well as creating much-needed jobs, reducing CO2 emissions and saving money on householder’s energy bills.

“At a time when the UK Government is cutting back on many ‘green’ projects and slashing funding for key environmental agencies, this EU cash boost for developing the clean energies which will power our future is all the more welcome.”

Keith concluded: “The total available in the fund is around €200million, with successful applicants from across the EU being able to lever in as much as six or seven times their original investment. So, if a city council raises €1.6m, it can lever in up to €10m in low interest loans.”

The European Parliament industry and energy committee will formally adopt the agreement on 26 October and the Parliament as a whole will vote on the rule changes in November.

ENDS

Notes to Editors

1) Under the 2009 European Energy Recovery Plan