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 boosting 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, it suggests creating an EU Critical Raw Material Centre for joint purchasing of essential metals and minerals. This deal aims to simplify regulations and carbon duties but requires approval from the European Parliament and a majority of EU member states.