EC approves EUR-5.4bn state aid for Italy’s renewables

17/06/2019 10:33 Renewable

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The European Commission (EC) approved on Friday EUR 5.4 billion (USD 6.1bn) in state aid to support power generation from renewables in Italy.

According to the EC, Italy plans to launch a new aid measure to boost the electricity production from onshore wind, solar and other assorted renewable sources. The EUR-5.4-billion pot, available until 2021, will back these projects with a premium paid on top of the market price.

 

In order to keep the aid at a minimum, the premium will not be higher than the difference between the average production cost for each technology and the market price. In other words, the premium will only serve to cover the negative difference between the market price and production costs.

Source: renewablesnow.com

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