Published by Global Banking & Finance Review®
Posted on February 26, 2025
1 min readLast updated: January 25, 2026
Add as preferred source on GoogleThe European Commission plans to allocate 100 billion euros to support EU clean tech manufacturing, aiming to simplify regulations and support energy-intensive industries.
BRUSSELS (Reuters) - The European Commission on Wednesday proposed making available 100 billion euros ($104.94 billion) to support EU-made clean manufacturing as part its landmark Clean Industrial Deal.
The deal is a key pillar of its competitiveness plan, designed to support energy-intensive industries facing high costs and heavy bureaucracy as they challenge for market share with global rivals.
As part of the deal previously reported by Reuters, the Commission plans to launch together with the European Investment Bank guarantee schemes to ease costs for long-term renewable power contracts as well as to support grid manufacturers.
The Commission also proposed creating an EU Critical Raw Material Centre to jointly purchase key metals and minerals required in the energy transition.
The deal is part of a wider plan that includes simplifying red tape and carbon duties and subject to approval in the European Parliament and amongst a reinforced majority of EU member states.
($1 = 0.9529 euros)
(Reporting by Julia Payne; editing by Richard Lough)
The 100 billion euros is intended to support EU-made clean manufacturing as part of the Clean Industrial deal, which aims to enhance competitiveness for energy-intensive industries.
The proposal includes launching guarantee schemes with the European Investment Bank to ease costs for long-term renewable power contracts and creating an EU Critical Raw Material Centre.
Energy-intensive industries are facing high costs and heavy bureaucracy as they compete for market share with global rivals.
The deal is subject to approval in the European Parliament and requires support from a reinforced majority of EU member states.
The EU Critical Raw Material Centre aims to jointly purchase key metals and minerals necessary for the energy transition, enhancing resource security for the EU.
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