European Commission Approves France Tax Credit Regime for Investments in Green Industry

The European Commission (EC) March 9 issued State Aid Case Decision No. SA.120765, approving the French tax credit regime for investments in the green industry. The decision includes measures to: 1) set a budget of 1.1 billion euros (US$1.3 billion); 2) authorize aid until Dec. 31, 2028; 3) allow aid for qualifying small and medium-sized enterprises (SMEs) and large enterprises, excluding some undertakings; 4) require applications before the commencement of work, demonstrate the incentive effect, and add production capacity for eligible net-zero technologies; 5) limit the aid per project from 15 percent of eligible costs and 150 million euros (US$172.8 ...