EU Funds Cleantech Projects, Approves Masdar Grant

As the UN climate change talks continue in Poland, the European Commission announced today that it’s picked the first set of investments for its Global Energy Efficiency and Renewable Energy Fund. This first round will funnel €22 million ($29.3 million) into small-scale renewable energy projects in developing countries in Africa and Asia. The very well-funded thin-film solar firm Masdar PV also picked up some funding today, with the European Commission approving €28 million in aid from Germany. Masdar PV is backed by oil-rich Abu Dhabi’s Masdar Initiative.

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