Article 11U.K.Selection criteria
1.The selection of projects for the Innovation Fund support shall be based on the following criteria:
(a)effectiveness in terms of greenhouse gas emission avoidance potential, where applicable, compared to the benchmarks referred to in Article 10a(2) of Directive 2003/87/EC;
(b)degree of innovation of the projects compared to the state of the art;
(c)project maturity in terms of planning, business model, financial and legal structure as well as prospect of reaching the financial close within a pre-defined period of time not exceeding four years after the award decision;
(d)technical and market potential for widespread application or replication, or for future cost reductions;
(e)efficiency in terms of the relevant costs of the project minus any contribution to those costs from the project proponent, divided by the total projected amount of greenhouse gas emissions to be avoided or energy to be produced or stored or CO2 to be stored in the first 10 years of operation.
2.Additional criteria aimed at achieving a geographically balanced distribution of the Innovation Fund support may also be applied for the purposes of project selection.