The European Commission has approved a HUF880bn (€2.36bn) Hungarian scheme to incentivise the production of relevant equipment for the transition towards a net-zero economy. Under this Green Deal Industrial Plan aligned scheme, the aid should be granted no later than the 31 December 2025 under the form of direct grants and/or tax advantages 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 to produce such equipment or related critical raw materials necessary for their production.
The scheme was approved by the EU under the State aid Temporary Crisis and Transition Framework, adopted by the Commission in March 2023 to support measures in sectors which are key to accelerate the green transition and reduce fuel dependencies.
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