· FOI · unclear
Innovation Fund: low carbon energy infrastructure projects: FOI release
Information requested
The amount committed by the Scottish Government to the Innovation Fund referenced on page 10 of the Programme for Government; for the amount of money that has been paid out through the Fund to date; for a list of payees that have received funding from the Fund and for the business case for the Fund.
Response
The Scottish Government has committed £60 million to the Innovation Fund to support the delivery of innovative low carbon energy infrastructure projects. The Low Carbon Innovation Funding Invitation is being delivered through the existing Low Carbon Infrastructure Transition Programme (LCITP). The Fund is designed to accelerate the delivery of large scale innovative low carbon infrastructure projects that support the ambitions set out within the recently published Scottish Energy Strategy. The full details are publicly available at http://www.gov.scot/Topics/Business-Industry/Energy/Action/lowcarbon/LCITP.
The open and competitive call for projects was launched by Scottish Ministers on 21 January 2018, with closing date for applications of 30 April 2018. Two stages of support were offered to projects:
1. Development support of up to £100,000 per project to produce investment grade business cases.
2. Capital support of up to 50% of capital costs with maximum of £10 million per project.
72 applications were received, with 41 projects seeking Development support and 31 projects seeking Capital support. An independent evaluation panel met in May 2018 to assess the projects. LCITP are currently working to finalise funding awards with the successful Development stage projects, which will be announced in the coming weeks.
Capital stage projects will submit a more detailed application by 15 August 2018 which will be further assessed at an evaluation panel during September 2018, with successful projects then undergoing an independent due diligence process. Information relating to capital projects supported will be made publicly available in late 2018.
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