The European Commission approved a €1 billion Portuguese scheme to support investments in the production of equipment critical for advancing a net-zero economy. The initiative, aligned with the EU's Green Deal Industrial Plan, is designed to accelerate Portugal's transition to clean energy and industrial sustainability. Approved under the State Aid Temporary Crisis and Transition Framework (TCTF), the programme aims to foster the production of essential technologies such as batteries, solar panels, wind turbines, heat pumps, and carbon capture equipment. Portugal's scheme will provide direct grants to companies involved in manufacturing these key technologies and raw materials essential for their production. The aid will be available until the end of 2025. The Commission determined that the programme meets EU state aid rules, as it is necessary, appropriate, and proportionate in supporting the green transition and enhancing economic activities in line with the European Green Deal objectives. This investment is part of broader EU efforts to drive industrial innovation and reduce carbon emissions across Europe, marking a significant step for Portugal's role in the continent's shift to a net-zero economy. On 9 March 2023, the Commission adopted the TCTF to boost support measures in key sectors for the transition to a net-zero economy, in line with the Green Deal Industrial Plan. Attribution: The European Commission Subediting: Y.Yasser
