UK markets close in 47 minutes
  • FTSE 100

    6,725.40
    -14.99 (-0.22%)
     
  • FTSE 250

    20,862.87
    -18.59 (-0.09%)
     
  • AIM

    1,199.96
    +12.46 (+1.05%)
     
  • GBP/EUR

    1.1290
    +0.0017 (+0.15%)
     
  • GBP/USD

    1.3732
    +0.0077 (+0.57%)
     
  • BTC-GBP

    22,941.31
    -1,572.81 (-6.42%)
     
  • CMC Crypto 200

    626.45
    -53.46 (-7.86%)
     
  • S&P 500

    3,859.72
    +7.87 (+0.20%)
     
  • DOW

    31,239.20
    +50.82 (+0.16%)
     
  • CRUDE OIL

    53.12
    -0.19 (-0.36%)
     
  • GOLD FUTURES

    1,865.00
    -1.50 (-0.08%)
     
  • NIKKEI 225

    28,756.86
    +233.60 (+0.82%)
     
  • HANG SENG

    29,927.76
    -34.71 (-0.12%)
     
  • DAX

    13,934.82
    +13.45 (+0.10%)
     
  • CAC 40

    5,600.67
    -27.77 (-0.49%)
     

EU state aid regulators okay Irish renewable power scheme

·1-min read

BRUSSELS (Reuters) - EU state aid regulators cleared on Monday an Irish scheme to produce electricity from renewable sources, saying it was in line with the bloc's rules and its environmental objectives.

Ireland's Renewable Electricity Support Scheme aims to support electricity production from renewable sources, including solar photovoltaic and wind, to help the country shift away from fossil fuels.

The project, budgeted between 7.2 billion euros and 12.5 billion euros, will run until 2025. State aid will be allocated through auctions.

The European Commission said the scheme will contribute to the bloc's environmental objectives without unduly distorting competition.

(Reporting by Foo Yun Chee)