March 12, 2026: The European Commission is proposing a fresh package of support to encourage private investments in long duration energy storage projects and “novel” renewables.

The Commission said on March 10 it plans to work with the European Investment Bank Group to step up financial support for investments in LDES and a range of clean energy tech such as floating wind, floating solar and wave and tidal power.

Levels of financial support likely to be available were not specified, but the Commission said it would launch a pilot scheme with the EIB this year aimed at securing €500 million of financing to accelerate “energy efficiency as a service” models, alongside specialised investment funds.

The Commission will also establish the Energy Transition Investment Council, to include key investment partners.

EU institutions will look to provide better access to finance for grid operators by freeing up banks’ lending capacity, allowing banks to grant new loans to grid operators without direct reliance on public subsidies or state budgets, while crowding‐in private institutional capital.

The Commission will explore with the EIB how to better support access to finance for grid operators by freeing up banks’ lending capacity, allowing banks to grant new loans to grid operators without direct reliance on public subsidies or state budgets, while crowding‐in private institutional capital.

Public capital has a vital role to play in lowering risks and mobilising private finance for the clean energy transition, the Commission said.

“The de-risking of clean technologies, especially where we depend on high-risk third country providers, such as for solar inverters, needs to be reinforced at a national and EU level.”

However, the Commission said it would be essential to undertake a thorough analysis of cybersecurity risks for all energy infrastructure projects considered for financing, and define appropriate risk mitigation measures.