The European Commission has approved €4bn in state aid to France to decarbonise industry and foster its transition to a Net Zero economy.
Margrethe Vestager, Executive Vice-President in charge of competition policy, said it will provide an incentive to companies to adapt their industrial processes by using less polluting and less energy consuming equipment, which will contribute to the EU’s climate goals.
Under the Temporary Crisis and Transition Framework, Member States can set up schemes for investments in all renewable energy sources, including renewable hydrogen, biogas and biomethane.
They can also use investment to phase-out fossil fuels, through electrification, energy efficiency and switching to renewable and electricity-based hydrogen, and support decarbonisation of industrial processes by moving to hydrogen-derived fuels.
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