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Clean Energy Investments Get $11.4 Billion Funding Plan From EU (Corrected)

Feb. 26, 2019, 2:23 PMUpdated: Feb. 26, 2019, 2:53 PM

Businesses seeking to shift to clean energy are on track to get 10 billion euros ($11.4 billion) in funding from the European Union to help with their transition as the bloc’s restrictions on pollution in the next decade become tougher.

The program adopted by the European Commission Feb. 26 will aid low-carbon investment in energy-intensive industries, renewables, carbon capture, use and storage, as well as energy storage.

The Innovation Fund will use revenues from from the sale of at least 450 million carbon allowances under the EU emissions trading system in 2020-2030, the commission said. The permits have surged in ...