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U.K. Funds to Help Spur $130 Million of Bioenergy Developments

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Jan. 8 (Bloomberg) -- The U.K. Department of Energy and Climate Change pledged 10 million pounds ($16 million) to a program that seeks to spur as much as 100 million euros ($130 million) of bioenergy projects across eight European nations.

Britain, Finland, Sweden, Germany, Denmark, Switzerland, Spain and Portugal will contribute about 47 million euros in total, the department said today in an e-mailed statement.

The U.K. is aiming for 15 percent of its energy to come from renewable sources by 2020. The department estimates at least 30 percent of that may be met from bioenergy plants.

The European program opens for proposals early this year, with grants due to be made in early 2014, the department said.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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