- Press Releases
December 21 (Renewables Now) - The European Commission (EC) on Monday approved a total of EUR 34 million (USD 38.3m) in state aid by Finland for the construction of two advanced biofuels plants in the country.
In particular, it cleared EUR 24.5 million in support for NordFuel Oy to build an advanced biofuel demonstration plant, and EUR 9.5 million for French water, waste and energy management group Veolia (EPA:VIE) to construct a biomethanol demonstration facility.
The government investment is aimed at increasing the production of advanced biofuels and biogas for transport.
The two support measures back projects promoting sustainable biofuels, in line with the European Green Deal, without undue distortion of competition in the single market, the EC said.
NordFuel Oy is looking to build a biorefinery to produce ethanol fuel from wood next to a power plant in Haapavesi. The project, which would also produce biogas as a byproduct, is estimated to be worth EUR 300 million.
(EUR 1 = USD 1.127)