European Commission proposes 100 billion euros for clean tech

The European Commission has proposed a plan to allocate 100 billion euros to support clean manufacturing within the EU. This initiative is part of the Clean Industrial Deal aimed at enhancing competitiveness for energy-intensive industries. The proposal includes launching guarantee schemes with the European Investment Bank to reduce costs for renewable power contracts and assist grid manufacturers. Additionally, a new EU Critical Raw Material Centre is suggested to collectively purchase essential metals and minerals for the energy transition. This plan aims to simplify regulations and carbon duties but requires approval from the European Parliament and a majority of EU member states.