Green State Aid for Companies Monday, the state has distributed 634 million Danish kroner in green state aid to companies to prevent relocation. State aid for green industrial production has become an international competitive parameter. The USA and China have significantly increased support for companies that contribute to the green transition, prompting the Danish government to follow suit. Consequently, Denmark’s Export Credit Agency (Danmarks Eksport- og Investeringsfond) on Monday distributed 634 million kroner in green investment support to selected companies.
“It is certainly not by our own will that state aid has become such a prominent issue. But it is the reality, and we must deal with it. We can see that companies are responding to the enormous state aid provided in the USA and China,” said Minister for Business Morten Bødskov (Social Democrats). The support aims to ensure the creation of new jobs in the green sector in Denmark and prevent their relocation to other countries.
It has been a prerequisite to receive the support that companies can prove they would be eligible for state aid for their investments elsewhere. Therefore, the government highlights that the 634 million kroner in green state aid has secured 800 new jobs in Denmark. The funds are going to Siemens Gamesa, which is utilizing the support as financing for a new production in Denmark, expected to create 500 jobs.