The European Commission on Wednesday gave the green light to planned state aid in Germany amounting to three billion euros for companies. These funds are intended to accelerate the transition to carbon-neutral economies and reduce dependence on fossil fuels such as oil, gas and coal.
The Brussels government explained that these funds should serve as an incentive for private investment in this sustainable direction.
“The aid is provided in the form of direct grants, tax breaks, reduced interest rates for new loans or guarantees for new loans.” Companies that make systems for batteries, solar panels, wind turbines, heat pumps or electrolysers can benefit.
Direct pre-products or the processing of required raw materials can also lead to financing. State aid is limited to the end of 2025.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
