CHAPTER I General provisions

Article 2 Definitions
For the purposes of this Regulation the following definitions apply:
(1) ‘financial close’ means the moment in the project development cycle where all the project and financing agreements have been signed and all the required conditions contained in them have been met;
(2) ‘entry into operation’ means the moment in the project development cycle where all elements and systems required for operation of the project have been tested and activities resulting in effective avoidance of greenhouse gas emissions have commenced;
(3) ‘small-scale project’ means a project with a total capital expenditure not exceeding EUR 7 500 000.