EU competition regulators are considering changes in State aid laws to allow EU countries to subsidise up to 100% of renewable energy projects, the European Commission announced on Monday, June 7.
The proposed changes are part of the EU executive’s revision of its climate, energy, and environmental State aid guidelines (EEAG) which are expected to be adopted by the end of the year.
“Europe will need a considerable amount of sustainable investments. Although a significant share will come from the private sector, public support will play a role in ensuring that the green transition happens fast,” European Competition Commissioner Margrethe Vestager said in a statement.
The EU executive said the revised rules would allow EU countries to introduce new aid instruments and projects in clean transport, energy efficiency in buildings and biodiversity could also be fully funded by EU countries.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
