EU mulls emergency aid for collapsing solar producers
The European Commission will make a statement Monday as state-backed Chinese competition fuels a wave of bankruptcies in Europe.
The EU is hoping to bring 30 gigawatts of solar production capacity back to the bloc by 2030 as part of its proposed Net-Zero Industry Act | Christophe Archambault/AFP via Getty Images
FEBRUARY 3, 2024 12:55 PM CET
BY VICTOR JACK AND CAMILLE GIJS
BRUSSELS — The European Commission is in early-stage talks on emergency measures to buoy drowning EU solar manufacturers who say Chinese subsidies are suffocating the industry, according to two people familiar with the matter.
On Monday, the Commission will make a statement on the teetering sector at the European Parliament in Strasbourg, while MEPs are also expected to debate ideas to prop up the industry.
Possible options could include direct support or trade defense measures, according to the people, who were granted anonymity to speak candidly. The Commission, the EU's executive, did not confirm whether it was considering a bailout or trade defense measures.
The talks come as the European Solar Manufacturing Council (ESMC), the body representing photovoltaic producers, this week sent a letter to Brussels appealing for "urgent" measures including a swift, EU-led buyout of their inventories.
https://www.politico.eu/article/eu-mulls-emergency-aid-for-collapsing-solar-producers/
