Electricity

EU backs EUR 2.9 billion in state aid for battery project in 12 states including Croatia, Greece

vestager state aid European Battery Innovation

Photo: Twitter/European Commission

Published

January 28, 2021

Country

Comments

comments icon

0

Share

Published:

January 28, 2021

Country:

Comments:

comments icon

0

Share

The European Commission has approved public funding to be provided by Austria, Belgium, Croatia, Finland, France, Germany, Greece, Italy, Poland, Slovakia, Spain and Sweden for 42 small and medium-sized enterprises and start-ups in the battery sector.

Apart from EUR 2.9 billion in state aid, the European Battery Innovation project is expected to unlock an additional EUR 9 billion in private investments.

According to a press release, the commission has approved, under EU State aid rules, a second Important Project of Common European Interest (IPCEI) to support research and innovation in the battery sector. The value of the state aid for the first IPCEI was EUR 3.2 billion.

The project will involve 42 direct participants, including SMEs and start-ups

The project will involve 42 direct participants, including small and medium-sized enterprises (SMEs) and start-ups operating in one or more member states. In the countries tracked by Balkan Green Energy News, the participants are RimacAutomobili, based in Croatia, and Sunlight Systems from Greece.

The project is expected to be completed by 2028, the commission said.

The project will cover the entire battery value chain

The project will cover the entire battery value chain from extraction of raw materials, design, and manufacturing of battery cells and packs, and finally the recycling and disposal in a circular economy.

commission state aid European Battery Innovation

It is expected to contribute to the development of a whole set of new technological breakthroughs, including different cell chemistries and novel production processes, and other innovations in the battery value chain, in addition to what will be achieved thanks to the first battery IPCEI, the commission said.

Vestager: With significant support also comes responsibility

Executive Vice-President Margrethe Vestager, in charge of competition policy, said that for those massive innovation challenges for the European economy, the risks can be too big for just one member state or one company to take alone. So, it makes good sense for European governments to come together to support the industry in developing more innovative and sustainable batteries.

“With significant support also comes responsibility: the public has to benefit from its investment, which is why companies receiving aid have to generate positive spillover effects across the EU,” she added.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

HELLENiQ Energy buys ABO Energy Hellas 1 5 GW renewables

HELLENiQ Energy buys ABO Energy Hellas, adding 1.5 GW in renewables projects

02 July 2025 - Amid a consolidation in the renewables sector in Greece, HELLENiQ Energysaid it completed the acquisition of ABO Energy Hellas

EU outlines measures for 90 emissions cut by 2040

EU outlines measures for 90% emissions cut by 2040

02 July 2025 - A proposed amendment to the European Climate Law sets a 2040 target of a 90% reduction in net greenhouse gas emissions

Solaris Holding large hybrid renewable energy park Bulgaria

Solaris Holding launches production at large hybrid renewable energy park in Bulgaria

02 July 2025 - The new Selanovtsi solar farm of 59.8 MW in peak capacity near Vratsa was installed alongside a battery energy storage system of 107.3 MWh in capacity

marta kos growth plan western balkans skopje

Clean energy, grid upgrade projects in Western Balkans to be backed under EU’s Growth Plan

02 July 2025 - The European Commission has proposed the first support package, worth EUR 87.7 million, under the Growth Plan for the Western Balkans.