The European Commission (EC) has approved, under EU State aid rules, a Polish scheme with a maximum budget of €22.5 billion to support offshore wind technology, according to a statement on Thursday.
The measure will help Poland reach its renewable energy targets without unduly distorting competition and will run until 2030, according to the EC.
The aid is set to facilitate the development of renewable energy production by promoting offshore wind projects in Poland and reducing greenhouse gas emissions, in line with the European Green Deal without unduly distorting competition.
“This Polish scheme is a very good example of how competition policy can enable Member States to support green energy projects, such as offshore wind farms," Executive Vice-President Margrethe Vestager, in charge of competition policy, was quoted as saying.
Vestager added that the scheme also offers an incentive to companies to invest in green projects where they would otherwise not have invested.
"We hope that we will see many such initiatives in the future, which contribute to the EU's Green Deal, without unduly distorting competition in the Single Market,” she said.
By Ebru Sengul Cevrioglu