The European Commission (EU) announced its approval of EUR200 million (approximately $221 million) in German state aid aimed at constructing additional berths in the port of Cuxhaven to enhance the region’s offshore industry capabilities, as reported by the German news agency dpa.
These new docking facilities, located along Germany’s North Sea coast, are designed to facilitate the handling of heavy loads, such as components for wind farms, in the northern German city. According to a press release, this infrastructure will also support Germany in achieving its renewable energy objectives and bolster supply security, as stated by the European Commission.
The European Commission approved German state aid worth €200 million ($221 million) to build additional berths in the port of Cuxhaven to strengthen its offshore industry capacities. https://t.co/BqDsOpurt2
— dpa news agency (@dpa_intl) September 3, 2024
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The EUR200 million in grants will be supplemented by an extra EUR100 million investment from the state-owned port authority NPorts. The anticipated completion date for the new terminal is 2028.
While state aid is tightly regulated within the EU, Brussels can permit national governments to provide financial assistance for economic development under specific conditions.
Last month, Germany secured substantial funding for its “Federal Action Plan on Nature-based Solutions for Climate and Biodiversity,” ensuring its implementation in the years to come. Environment Minister Steffi Lemke announced that over EUR3.5 billion ($3.89 billion) will be allocated to the plan until 2028, marking the largest investment ever in nature and climate protection in Germany.
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