The Surveillance Authority of the European Free Trade Area (ESA) has given today its approval to the increase of the Norwegian Energy Fund for 2010 by not raising objections. The decision, which is not yet available, is based on the Guidelines for environmental protection. The Fund had been previously approved by ESA for the period 2006-2010.
Hopefully, the decision will be available soon (after confidentiality check) and commented on this blog. In the meantime, the justification of the budget increase is, as presented by ESA, the following:
"The budget increase involves the allocation of NOK 365 million which represents interest generated by a capital injection of NOK 10 billion into a fund (Grunnfond for fornybar energi og energieffektivisering) set up in order to provide a stable source of financing of the energy fund."
ENOVA is operating the Fund, which is dedicated to the support of actions in favour of renewable energies, renewable heating and energy savings. It has the status of a public enterprise and is owned by the Norwegian Ministry for Petroleum and Energy.
References: The EFTA Surveillance Authority approves NOK 365 million budget increase of the Norwegian Energy Fund, ESA, press release, 10.3.2010.
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