EU to Allow States Provide 100% Subsidies for Clean Energy Projects

EU competition regulators are contemplating changing state aid laws to allow countries to subsidise up to 100% of renewable energy projects as the EU seeks to meet its ambitious green targets. The proposed changes are part of the EU executive’s revision of its climate, energy and environmental state aid guidelines (EEAG) expected to be adopted by the end of 2021.

European Competition Commissioner Margrethe Vestagerstated that the continent will need a considerable amount of sustainable investments. Although a significant share will come from the private sector, public support will play a role in ensuring that the green transition happens fast. Se noted that revising the rules will allow EU countries to introduce new aid instruments and projects in clean transport, energy efficiency in buildings and biodiversity. In addition, new investments in natural gas will be covered by the revised rules as long as they align with the EU’s 2030 and 2050 climate goals.

Leave a Reply

Your email address will not be published. Required fields are marked *