Government grants $90M for green industry

The Danish government is providing 634 million DKK in green investment support to select companies to bolster green industrial production. This move aims to compete internationally, particularly against the significant subsidies in the US and China. Through Denmark’s Export and Investment Fund, the support is intended to create new jobs and prevent the outflow of jobs to other countries. Companies must demonstrate their eligibility for support elsewhere to qualify. Notably, Siemens Gamesa will create 500 jobs in Denmark with this funding. Although not on the same financial scale as the US’s $369 billion support over ten years, Denmark competes with decades of green energy collaboration, skilled labor, and university partnerships. Initially, one billion DKK was set aside, but not all funds have been allocated, with plans to assess the use of remaining funds.