{"id":82680,"date":"2024-02-28T00:00:00","date_gmt":"2024-02-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/02\/28\/italy-greenlights-eur-6-3-bn-green-transition-decree\/"},"modified":"2024-02-28T00:00:00","modified_gmt":"2024-02-28T00:00:00","slug":"italy-greenlights-eur-6-3-bn-green-transition-decree","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/02\/28\/italy-greenlights-eur-6-3-bn-green-transition-decree\/","title":{"rendered":"Italy greenlights EUR 6.3 bn green transition decree"},"content":{"rendered":"

<\/strong>Italy has approved a EUR 6.3 bn decree to support the country\u2019s green tech development <\/strong>and energy transition targets<\/strong>, Reuters<\/a> reports. The funding is aimed at meeting the EU-funded recovery plan \u2014 NextGenerationEU \u2014 and will be disbursed in the form of tax breaks for companies committed to energy saving as part of a EUR 194.4 bn agreement with the EU to overhaul the country\u2019s investment programme through 2026.<\/p>\n

About NextGenerationEU: <\/strong>The NextGenerationEU<\/a> is a post-Covid, EUR 806.9 bn recovery plan for the European bloc aimed at investing in \u201chealthier, greener, and more digital\u201d projects. One of the six key goals of the fund is to accelerate the green transition with a focus on renewables and sustainable mobility. Together with the EU\u2019s long-term budget, the NextGenerationEU funding is the largest stimulus package ever financed in Europe. <\/p>\n

IN OTHER EU-ITALY NEWS- The EU supports Italy\u2019s Green Hydrogen Valley: <\/strong>The EU Commission signed off on a EUR 370 mn (c.USD 402 mn) grant to green investment manager Sosteneo to develop the \u201cGreen Hydrogen Valley\u201d project in Italy's Puglia region, Reuters<\/a> reports. The project \u2014 aimed at decarbonizing Italy\u2019s largest energy and steel hub \u2014 will include a 260 MW solar plant and a 160 MW green hydrogen production hub to power the production of low-carbon direct reduced iron. Italy\u2019s grid operator Snam will also receive EUR 100 mn from the EU funds for its EUR 100 mn project to renovate existing pipelines and establish new ones, the newswire notes. <\/p>\n

\n

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New EIB president is shifting gears on nuclear energy:<\/strong> The newly appointed president of the European Investment Bank (EIB) Nadia Calvi\u00f1o has decided to shift the bank\u2019s stance on nuclear power, positioning it in favor of the controversial green energy source, The Financial Times<\/a> reports. Calvi\u00f1o emphasized the importance of Europe remaining competitive in emerging technologies like modular reactors, despite the EIB's historical avoidance of nuclear investments since the Chernobyl disaster in 1987.<\/p>\n

France is partly responsible for the shift:<\/strong> The new approach to nuclear energy and defense investments was reportedly influenced by demands from France, a major supporter of Calvi\u00f1o's appointment, the FT writes, citing EU and bank officials.<\/p>\n","protected":false},"excerpt":{"rendered":"

The EU has extended some EUR 6.67 bn toward financing Italy\u2019s green energy transition.<\/p>\n","protected":false},"author":1,"featured_media":82681,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,74,11,173,298,76],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-decarbonization","tag-enterpriseclimate","tag-eu","tag-hydrogen","tag-nuclear-energy","wpautop","entry"],"acf":{"mongo_id":"61c843fb-f331-4c0a-b30e-f6a51e780d08","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1108.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Italy greenlights EUR 6.3 bn green transition decree","related_issue":[82668],"teaser":"The EU has extended some EUR 6.67 bn toward financing Italy\u2019s green energy transition.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.4795b0b1-6804-4a8f-839c-90821f2bb6be.mp3"},"yoast_head":"\nItaly greenlights EUR 6.3 bn green transition decree - 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