Italy receives significant EU funding to develop a centralized system for storing renewable energy electricity.
The European Commission has greenlit a massive 17.7 billion euros ($19.4 billion) Italian state aid scheme.
This funding is dedicated to developing a centralized system for storing electricity generated from renewable sources.
The Commission believes this plan is essential and suitable for accelerating electricity storage investments. It's seen as a critical step towards achieving climate goals.
The Commission also noted that the scheme's benefits in meeting these goals would surpass any potential competition distortions.
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