Introduces a €2.7 billion State aid scheme to support decarbonization projects

On 19 September 2024, The European Commission has approved a €2.7 billion State aid scheme by Austria to support the transformation of production processes and encourage investment in decarbonization projects. The scheme will fund projects reducing greenhouse gas emissions from industrial installations through competitive bidding. Aid will be provided via investment grants or transformation grants for renewable-based production, covering up to 10 years of operational cost differences. The scheme aligns with Austria's National Energy and Climate Plan, the European Green Deal, and the REPowerEU Plan. Aid disbursement starts on 1 December 2024 and runs until 2030.

• Type:

  • Promotion and facilitation (Investment incentives)

• Industry:

  • Not industry specific (SDG)
  • Manufacturing (Manufacture of food products, beverages and tobacco products, Manufacture of wood and paper products, Manufacture of chemicals and chemical products, Manufacture of basic metals)
  • Manufacturing (Manufacture of food products, beverages and tobacco products, Manufacture of wood and paper products, Manufacture of chemicals and chemical products, Manufacture of basic metals)

• Sources:

  • European Commission ec.europa.eu, Commission approves €2.7 billion Austrian State aid scheme to support decarbonisation of industrial production processes, https://ec.europa.eu/commission/presscorner/detail/en/ip_24_4746, 19 Sep 2024
  • Bundesministerium für Klimaschutz, Umwelt, Energie, Mobilität, Innovation und Technologie, Transformation Industrie, https://www.bmk.gv.at/themen/klima_umwelt/klimaschutz/ufi/industrie.html#:~:text=Im%20Rahmen%20der%20neuen%20F%C3%B6rderungsrichtlinien,Millionen%20Euro%20(%E2%80%9EInvestitionszuschuss)%20sowie, 19 Sep 2024