Italy to invest EUR 27.4 in green energy shift

Italy to invest EUR 27.4 bn in green energy transition: Italy has approved a EUR 27.4 bn plan aimed at promoting green investments and reducing energy expenses for the industrial sector, Bloomberg reports. The move follows a EUR 1.3 bn energy package approved back in September that was meant to help households cope with rising energy bills.

And Italy is lining up agreements in the region: Saudi Arabia and Italy are currently in talks onjoint investments in the automotive, mining, oil and gas, defense, hydrogen and space sectors. Italy’s Zhero is also exploring cooperation in solar energy and green hydrogen production with Algeria.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• The US begins a series of oil and gas auctions just before COP 28: The Biden Administration is auctioning off 63 drilling parcels on almost 44k acres of land in 6 different states to oil and gas drillers over the next two weeks. The sales have drawn criticism from environmental groups, who have accused US President Joe Biden of supporting the expansion of fossil fuels in the US. (Reuters)