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.