The European Commission has approved, under EU State aid rules, a €155 million Danish scheme to promote green investments in the fishery and aquaculture processing sector.

The scheme aims to support large Danish fish processing companies in implementing projects to reduce CO2 emissions and save energy, through the transition to environmentally friendly energy sources. Under the scheme, which runs until 31 December 2029, aid will take the form of direct grants.

The Commission assessed the scheme under EU State aid rules, in particular Article 107(3)(c) of the Treaty on the Functioning of the European Union, which allows Member States to support the development of certain economic activities under certain conditions, and the Guidelines for State aid to the fisheries and aquaculture sector.

The scheme would be necessary and appropriate, according to the Commission, to encourage relevant investments in the fishery and aquaculture processing sector. Furthermore, the Commission considered that the scheme is proportionate, as it is limited to the minimum necessary and will have a limited impact on competition and trade between Member States. On this basis, the Commission approved the Danish scheme under EU State aid rules.