The European Commission has given approval to a EUR1.1bn Hungarian scheme aimed at supporting the development of electricity storage facilities as part of the transition to a net-zero economy. The scheme falls under the State aid Temporary Crisis and Transition Framework, which was adopted to accelerate the green transition and reduce fuel dependencies in the context of Russia's war against Ukraine. This framework amends and prolongs the Temporary Crisis Framework adopted in 2022 to enable Member States to support their economies during the current geopolitical crisis.

Source: ESGNews