Danes allocate $670m to boost clean energy

Denmark will by the end of the decade allocate DKr3.75bn ($670m) in grants to help its industrial base shift to a renewable energy-based infrastructure, its government has announced.

The grant pool includes cash to help industrial companiesreplace fossil fuels in their production process with renewable sources such as solar, wind or bioenergy.

Money is also available for energy-efficiency measures implemented alongside reneweables projects, renewables-based district heating schemes, and coal-to-biomass conversions.

The grant scheme, which will open for applications this summer, was set up under Denmark’s 2012 Energy Bill.

The funds will be distributed in chunks of DKr250m in 2013 and DKr500m each subsequent year until 2020.

Minister for climate, energy and buildings Martin Lidegaard says: “I hope there will be many applications from companies.

“It will not only benefit the climate. It will in the longer term improve the competitiveness of the companies if they become independent of fossil fuels, which will most likely continue to rise in price.”