Today we discussed a proposal for a new framework for state aid to support the Clean Industrial Deal. The College also adopted the European Space Act regarding the safety, resilience, and sustainability of space activities in the Union. Commissioner Kubilius will come to the press room after this conference to present what we discussed and agreed upon.

The main topic of this press conference is the state aid framework for the Clean Industrial Deal. This framework is a welcome package named Choose Europe. It supports our commitment to the Clean Industrial Deal from February and helps us work towards a fully decarbonized economy by 2050.

Today, we provide a framework for member states to invest in our decarbonization. We aim to modernize the economy, ensuring it remains competitive and promotes social prosperity.

This framework aims to accelerate investments and ensure a smooth decarbonization of our economy. We emphasize that public resources must be used efficiently and in line with our major European projects to safeguard the functioning of the Single Market.

If we want to be competitive and decarbonized, we need to invest in clean and flexible energy, stimulate innovation, and retain talent.

This framework establishes clear rules that provide predictability for investments and will be in place for five years. It offers safeguards for a level playing field and territorial solidarity.

We want to seize opportunities to make Europe attractive for investments and retain talent. We have widely consulted on this framework and studied 500 proposals since February.

This framework helps increase the role of clean energy in our energy mix and reduce dependence on fossil fuels, leading to stable and affordable energy prices.

Member states can now quickly and easily set up schemes for deploying renewable energy. We focus on sectors that are hard to decarbonize, such as the use of hydrogen.

We also propose temporary price relief for energy-intensive users in exchange for investments in decarbonization.

This framework provides flexible support for all decarbonization and energy efficiency technologies, leading to significant emissions reductions and less reliance on fossil fuels.

Finally, we want to de-risk and mobilize private investment. Member states can set up schemes to incentivize private investors to invest in green projects.

We continue to work on simplifying and speeding up the right investments. Our main goal is to make Choose Europe a reality.

Thank you.