European leaders began hearing a huge sucking sound. The source of the din? The Inflation Reduction Act , a 725-page doorstopper of legislation passed in August to speed up American decarbonisation. Europe’s budding clean-tech industry, they feared, would be hoovered up across the Atlantic by the promise of handouts, which amount to around $400bn over ten years. To stop this from happening, someSo far the noise has turned out to be mostly in the politicians’ heads.
Once an application is filed, it often takes months, if not years, before a decision is made. In the case of Plastic Energy, which recycles plastic waste, it once took so long that “we had to file again because the delay made us miss a deadline”, reports Carlos Monreal, the firm’s chief executive. And decisions tend to come without explanation. “It’s a black box.
The commission’s draft “Green Deal Industrial Plan”, unveiled on February 1st, tries to deal with these shortcomings. The plan is meant to simplify theprogrammes and streamline the approval of national green-finance tools in Brussels. It proposes an “administratively light” auction, the winners of which will receive a premium, based on their bids, for each kilogram of renewable hydrogen produced over ten years. The scheme will offer incentives to the tune of €800m .
That may be so. Still, those who have read the eight pages dedicated to “speeding up access to finance”, which mention no fewer than a dozen different acronym-rich programmes, may be excused for not holding their breath. Claudio Spadacini,of Energy Dome, an Italian firm which uses liquid carbon dioxide to store energy, approves of the.
Great deal 🌎🌎
Without proper gouvernance and the lack of teams & condtions to be met with for application to The GreenDeal moneypot subsidies this wil turn out to be a fraud frenzy, at the cost of John Doe, left behind not only empty handed but also debted in the end. EU cleptocracy
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European stocks open with modest gains ahead of US inflation data\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Source: FT - 🏆 113. / 51 Read more »