The scheme incentivises investments in additional capacity production of net zero technologies and covers costs related to their main specific components and related critical raw materials, including hydrogen technologies.

These include electrolysers, fuel cells, hydrogen transmission equipment, storage facilities, and ammonia crackers. However, no specific details on how the funding will be spent have yet been released.

The European Commission’s Executive Vice-President for Competition, Teresa Ribera, said the funding will “ensure” additional clean technology manufacturing capacity in France.

“The tax credits granted under this scheme will help companies making key investments in the coming years,” she said.

French funding is available until 31 December 2028.

It follows €3bn ($3.5bn) funding for Germany, which was announced earlier this month, and it is the eighth scheme approved under the Clean Industrial Deal State Aid Framework (CISAF), with aid taking the form of tax credits.