BAKU, Azerbaijan, April 3. The European
Commission has given the green light to a 900 million euro
initiative from France aimed at bolstering companies investing in
biomass and renewable hydrogen for energy and fuel production,
Trend reports.
Approved under the State Aid Temporary Crisis and Transition
Framework, endorsed by the Commission on March 9, 2023, and revised
on November 20, 2023, the scheme aims to support sectors crucial
for accelerating the green transition and reducing reliance on
conventional fuels.
France presented a 900 million euro plan to the Commission under
the Temporary Crisis and Transition Framework, targeting the
production of heat and fuels from biomass, including synthetic gas
and biochar for industrial use, as well as liquid fuels from
biomass and renewable hydrogen for both industry and
transportation.
The assistance will be provided in the form of direct grants
covering a portion of eligible investment expenses. This aid is
earmarked for new installations or projects that undergo
acceleration or expansion. Projects must be finalized and
operational within 36 months of aid approval.
The Commission determined that the French initiative complies
with the conditions outlined in the Temporary Crisis and Transition
Framework. Notably, the aid will encourage energy and fuel
production from renewable sources, remain within permitted aid
intensity levels, and be disbursed no later than December 31,
2025.
