The European Commission and the European Investment Bank (EIB) have renewed their Project Development Assistance (PDA) agreement under the Innovation Fund to expand support for innovative decarbonisation initiatives. Running from 2025 to 2028, the updated scheme will help up to 250 projects advance towards investment readiness through technical and financial advisory services, aligning with the EU’s Clean Industrial Deal and the revised Emissions Trading System (ETS).

With a significantly increased budget of EUR 90 million – up from EUR 24 million – the expanded PDA now covers a broader range of sectors, including low-carbon and net-zero mobility and buildings. It also introduces new Key Performance Indicators to ensure geographical and sectoral balance and foster the inclusion of small-scale and less mature projects.

Companies can now access PDA either through direct Innovation Fund calls or by contacting EIB Advisory directly (‘open PDA’), enabling more flexible and tailored support. This renewed cooperation builds on the success of the first PDA phase, which helped bring dozens of clean tech projects closer to funding or implementation.

By streamlining access to expertise and accelerating project development, the initiative strengthens Europe’s clean industrial base and helps drive the transition to climate neutrality.