Transition to Net-Zero Economy: Commission Approves EUR 380 million French State aid scheme to Support the Production of Renewable Energy and Decarbonisation Equipment
The European Commission (Commission) has approved a EUR 380 million French State aid scheme aimed at supporting the production of batteries, solar panels, wind turbines, heat-pumps, electrolysers and equipment for carbon capture usage and storage, as well as for the production of their key components and the production or recovery of related critical raw materials.
The aid will take the form of direct grants and repayable advances and contributes to the achievement of the priorities of the European Commission for 2024-2029.
The Commission approved the scheme under the State aid Temporary Crisis and Transition Framework (‘TCTF’), considering it necessary, appropriate and proportionate to accelerate the green transition and facilitate the development of certain economic activities in line with the conditions set out in TCTF.
For more information, see the Commission’s PR.