European Commission, within the framework of the Just Transition Fund scheme that supports the energy transition of contaminated and degraded areas caused by industrial exploitation, has granted EUE 1 billion to Italy, part of which will go to the decarbonisation of the troubled steelmaker Acciaierie d’Italia’s plant in Taranto, the largest steel plant in Europe, formerly known as Ilva JTF will finance new wind farm projects in the area, green hydrogen production plants and geothermal ventures for both the Taranto facility and residential buildings. The funds will support economic diversification, accelerate renewable energy and green hydrogen investment, and retrain employees in Taranto to convert the steelmaking process to green production. 4,300 workers will be retrained to develop new skills in green steelmaking. Local SMEs will be able to access part of the grant to boost economic diversification, develop skills related to the energy transition and accelerate the development of technology for decarbonisation, the EC explains in a note and adds that a green area of parks and reforestation around Taranto is also planned to restore degraded land. Acciaierie d’Italia, the joint venture between ArcelorMittal and state financial body Invitalia, output has collapsed from 10 million tonnes in 2005 to approximately 3 million tonnes this year, when the target of the industrial plan was to reach 6 million tonnes
European Commission, within the framework of the Just Transition Fund scheme that supports the energy transition of contaminated and degraded areas caused by industrial exploitation, has granted EUE 1 billion to Italy, part of which will go to the decarbonisation of the troubled steelmaker Acciaierie d’Italia’s plant in Taranto, the largest steel plant in Europe, formerly known as Ilva JTF will finance new wind farm projects in the area, green hydrogen production plants and geothermal ventures for both the Taranto facility and residential buildings. The funds will support economic diversification, accelerate renewable energy and green hydrogen investment, and retrain employees in Taranto to convert the steelmaking process to green production. 4,300 workers will be retrained to develop new skills in green steelmaking. Local SMEs will be able to access part of the grant to boost economic diversification, develop skills related to the energy transition and accelerate the development of technology for decarbonisation, the EC explains in a note and adds that a green area of parks and reforestation around Taranto is also planned to restore degraded land. Acciaierie d’Italia, the joint venture between ArcelorMittal and state financial body Invitalia, output has collapsed from 10 million tonnes in 2005 to approximately 3 million tonnes this year, when the target of the industrial plan was to reach 6 million tonnes