Spain Receives EU Assistance for Accelerating Green Transition

In order to promote the shift to a net-zero economy, the European Commission has authorised a €837 million Spanish programme to boost the manufacturing of batteries for the supply chain of electric and connected vehicles.

The Green Deal Industrial Plan has been adhered to throughout the approval process.

Plan has been approved under The State Aid Temporary Crisis and Transition Framework.

It was approved by the Commission on March 9, 2023, to assist initiatives in industries that are crucial to accelerating the green transition and reducing reliance on fossil fuels.

This programme will get a portion of its funding from the Recovery and Resilience Facility (or “RRF”).

 Aid will come in the form of loans and direct grants.

The Temporary Crisis and Transition Framework’s prerequisites are met by the Spanish programme, according to the Commission’s findings.

The manufacturing of necessary equipment for the shift to a net-zero economy will be encouraged through aid.

Assistance will be given no later than December 31, 2025.

The European Commission has proposed a package of recommendations that will enable the EU to reduce net greenhouse gas emissions by at least 55% by 2030 when compared to 1990 levels in the areas of climate, energy, transport, and taxes.

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