U.K. Enters 12 Projects for $6.4 Billion Low-Carbon EU Cash

The U.K. government is seeking funds from the European Union for 12 projects under a 4.5 billion-euro ($6.5 billion) program to promote low-carbon energy.

The projects will compete for funds generated by the sale of 300 million allowances to emit carbon dioxide under the EU’s New Entrants’ Reserve initiative, the U.K. Department of Energy and Climate Change said today in a statement. At a carbon price of 15 euros ($21.50), less than today’s price, that could raise about 4.5 billion euros, the government said.