Eu: Approved €2.9 billion aid package to support the development of photovoltaic and other manufacturing industries

   The European Union has approved a €2.9 billion state aid package for France to support the country's net-zero manufacturing sector, which includes the production of solar modules, energy storage batteries, wind turbines and heat pumps, as well as other related key components and key raw materials.

   Based on the EU's temporary Crisis and Transition Framework, the aid package will be available to eligible companies in the form of tax credits with authorisations valid until December 31, 2025. Under the framework, member states are free to design simple and effective programs to accelerate the transition to a net zero economy, including access to direct grants and tax incentives, loans or guarantees. The commission added that in exceptional circumstances, member states may offer higher support to individual companies.

   In addition, under the framework, the European Commission has also approved Germany's €902 million state aid to Swedish battery producer Northvolt to support its plan to build a battery plant in Heide,Schleswig-Holstein.

   It is worth mentioning that the recent increase in solar manufacturing activity in France, CARBON plans to build a GW scale TOPCon solar cell and module factory, but also involved in stacking technology. Holosolis, another startup working on laminated battery and component technology, has launched 10 million components.

                                                                                                                                                                       XIAMEN YOSHI METAL PRODUCT CO., LTD