EU Commission approves 400 mln euros Danish state aid for renewable energy

European Executive Vice-President Margrethe Vestager speaks at a media conference following a weekly meeting of EU Commission in Brussels, Belgium, April 21, 2021. Olivier Hoslet/Pool via REUTERS

May 4 (Reuters) - The European Commission on Tuesday approved 400 million euros ($480.12 million) Danish state aid supporting the production of electricity from renewable sources, according to a statement.

"This Danish scheme will contribute to substantial reductions in greenhouse emissions, supporting the objectives of the Green Deal," the commissioner in charge of competition, Margrethe Vestager, said.

According to the statement, Denmark intends to support energy generation from onshore and offshore wind turbines, wave power plants, hydroelectric power plants and solar technology with a scheme designed to guarantee stable prices to electricity producers.

($1 = 0.8331 euros)

Reporting by Sabine Siebold, editing by Marine Strauss

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