(MENAFN- Kuwait News Agency (KUNA)) The European Commission Tuesday announced a financial support of over 1.2 billion euro funding to 23 renewable energy projects in Europe.
The projects cover a wide range of renewable technologies - bioenergy, solar power, geothermal power, wind and ocean energy, said the EU's executive body in a statement.
Once up and running, these projects will collectively increase annual renewable energy production in Europe by some 10 TWh (terawatt/hour), an energy amount corresponding to the annual fuel consumption of more than a million passenger cars.
The funding for the projects will come from revenues from the EU Emissions Trading Scheme.
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