Italy wins EU approval for offshore wind CfD scheme


June 6, 2024

The European Union has approved the Italian government’s plan to support 4.6GW of renewable energy projects, including offshore wind farms, through a Contracts for Difference scheme.

The EU has approved the plan under its state aid rules and said Italy’s approach would help achieve the goals of the European Green Deal. The scheme is set to run until 31st December 2028, and support projects using technologies including fixed-bottom offshore wind, floating wind, geothermal, solar, tidal and wave energy generation.

Margrethe Vestager, EU executive vice president in charge of competition policy, said: “This scheme enables Italy to support the production of renewable electricity from various technologies, including innovative ones. The measure helps Italy meet its emission reduction and electricity production targets. It will also contribute to achieving the European Green Deal objectives, while limiting possible distortions of competition.”

Read more