REPowerEU and revision of the PNRR: the EU approves new measures

14 December 2023

On December 8 the Council of the European Union confirmed the 24 November decision by the European Commission on the new Council Implementing Decision (CID), thereby approving revision of the PNRR (Italy’s National Recovery and Resilience Plan) and the new chapter of REPowerEU.

For Italy the endowment has risen to 194.3 billion euros, with more than 39.5% of the funds devoted to the green transition. Ready is a 12.4 billion package for enterprise, half of which – around 6.3 billion – will go to tax incentives for Industry 5.0. In detail, there will be a tax credit plan in three directions to support: the digital and green transitions, the production and self-consumption of energy, employee training. Another 2.5 billion will help the production system in the ecological transition, net-zero technologies and the competitiveness and resilience of strategic industries.

There are also 320 million euros allocated as contributions to small and medium-sized companies for purchase of digital systems and technologies for getting energy from renewable sources for self-consumption and storage. Finally another 100 million are devoted to helping startups to foster investments in the digital transition, Industry 4.0 and Artificial Intelligence (AI).

In coming months the Ministry of Business and the Made in Italy – author of the measures – will provide more information about how businesses can access these new incentives. In fact, the ministry is currently working on new law bills (for 5.0 transition) and ministerial decrees that will be followed by new calls for other measures.

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