The European Commission has approved a €2.9bn French scheme supporting investment in green industries that aims to foster the transition to a net-zero economy, in line with the Green Deal Industrial Plan. The measure will take the form of a tax credit open to companies with plans to invest in the production of solar panels, batteries, wind turbines and heat pumps, as well as key components and materials for producing this equipment. The European Commission approved the scheme under the Temporary Crisis and Transition Framework and under EU State aid rules, considering the scheme as a necessary, appropriate and proportionate measure to accelerate the green transition and facilitate the development of certain economic activities of importance for the implementation of the REPowerEU Plan and the Green Deal Industrial Plan,
The European Commission adopted the Temporary Crisis and Transition Framework on March 2023 to foster support measures in sectors which are key for the transition to a net-zero economy, in line with the Green Deal Industrial Plan. Introduced in February 2023, the Green Deal Industrial Plan is a key initiative of the European Green Deal and aims to enhance the EU's manufacturing capacity for net-zero technologies, fostering sustainability and economic growth while reducing greenhouse gas (GHG) emissions.
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