Offers direct grants to support decarbonization in the manufacturing sector
24 May 2024
On 24 May 2024, the European Commission approved a €4 billion State aid scheme of France aimed at supporting decarbonization in the manufacturing sector. The scheme provides direct grants covering up to 30 per cent of investment costs for projects that (i) electrify industrial processes to achieve at least a 40 per cent reduction in greenhouse gas emissions, or (ii) enhance energy efficiency to cut energy consumption by a minimum of 20 per cent. Eligible projects must be completed within 36 months, with individual aid capped at €400 million. The scheme, which will run until 31 December 2025, aligns with the European Union's REPowerEU Plan and the Green Deal Industrial Plan, fostering strategic investments to phase out fossil fuels and expedite the green transition.
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Type:
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Promotion and facilitation (Investment incentives)
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Industry:
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Not industry specific (SDG)
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Manufacturing
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Services (Electricity, gas, steam and air conditioning supply)
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Sources:
