DECARBONISATION OF STEEL PRODUCTION
The Commission approved a €1.3 billion German measure made available in part through the Recovery and Resilience Facility ("RRF") to support a Germany entity in decarbonising part of their steel production processes. The aid will take the form of a direct grant and will support the construction of a direct reduction plant and three new electric arc furnaces. Once completed, the project is expected to avoid the release of more than 70 million tonnes of carbon dioxide over the 16-year lifetime of the project. Further information can be found here.
PROJECTS OF COMMON EUROPEAN INTEREST IN THE HYDROGEN VALUE CHAIN
The Commission approved a third Important Project of Common European Interest ("IPCEI") to support hydrogen infrastructure. The project was jointly prepared and notified by seven Member States who will provide up to €6.9 billion in public funding, which is expected to unlock €5.4 billion in private investments. As part of this IPCEI, 32 companies with activities in one or more Member States, including small and medium-sized enterprises, will participate in 33 projects. Further information can be found here.
EQUIPMENT NECESSARY FOR THE TRANSITION TO A NET-ZERO ECONOMY
The Commission approved a €350 million Portuguese scheme to support investments in the production of equipment necessary to foster the transition towards a net-zero economy. The scheme was approved in order to support measures in sectors which are key to accelerate the green transition and reduce fuel dependencies. The measure will be open to companies producing relevant equipment, namely batteries, solar panels, wind turbines, heat-pumps, electrolysers, equipment for carbon capture usage and storage, as well as key components designed and primarily used as direct input for production of such equipment or related critical raw materials necessary for their production. Further information can be found here.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.