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22 Mar 2023
The EU IRA: Subsidise me!
Bayerische Motoren Werke AG (BMW:ETR), 0 | Linde Bangladesh Limited (LINDEBD:DHA), 0 | Linde plc (LIN:NYS), 0 | LINDE HOLDING BIEL N (KLILAB:SWX), 0 | Linde PLC (LIN:NYSE), 0 | LINDETEVES-JACOBERG (LJ:SGX), 0 | Linde India Ltd. (523457:BOM), 0 | Lindeman Asia Investment Corp. (277070:KRX), 0 | Linde Gas Srbija a.d. (LIND:BEL), 0 | RWE AG (RWE:ETR), 0 | Siemens Aktiengesellschaft (SIE:ETR), 0 | E.ON SE (EOAN:ETR), 0 | Volkswagen AG Pref (VOW3:ETR), 0 | Imerys (NK:EPA), 0 | Imerys SA (NK:PAR), 0 | Schneider Electric (SU:EPA), 0 | Schneider Electric SE (SU:PAR), 0 | Air Liquide (AI:EPA), 0 | L'Air Liquide S.A. (AI:PAR), 0 | Iberdrola (IBE:BME), 0 | Iberdrola SA (IBE:MCE), 0 | Renault (RNO:EPA), 0 | Renault SA (RNO:PAR), 0 | Porsche Automobil Holding SE Pref (PAH3:ETR), 0 | Stellantis N.V. (STLAM:MIL), 0 | Eramet (ERA:EPA), 0 | Eramet SA (ERA:PAR), 0 | Danieli & C Officine Meccaniche (DAN:BIT), 0 | Danieli & C. Officine Meccaniche S.p.A. (DAN:MIL), 0 | STMicroelectronics NV (STMPA:PAR), 0 | Atlas Copco Ab-A Shs (ATCOA:STO), 0 | Mercedes-Benz Group AG (MBG:ETR), 0 | Enel (ENEL:BIT), 0 | Enel SpA (ENEL:MIL), 0 | Infineon Technologies AG (IFX:ETR), 0 | Air Products & Chemicals (APD:NYSE), 0 | Air Products and Chemicals, Inc. (APD:NYS), 0 | Kingspan Group Plc (KRX:DUB), 0 | Freni Brembo (BRE:BIT), 0 | Brembo S.p.A. (BRE:MIL), 0 | Aurubis AG (NDA:ETR), 0 | Alfa Laval (ALFA:STO), 0 | Alfa Laval AB (ALFA:OME), 0 | Boliden Ab (BOL:STO), 0 | Boliden AB (BOL:OME), 0 | Wacker Chemie AG (WCH:ETR), 0 | Meyer Burger Technology AG (MBTN:SWX), 0 | Maire Tecnimont (MT:BIT), 0 | MaireTecnimont SpA (MAIRE:MIL), 0 | EDP Renovaveis (EDPR:ELI), 0 | EDP Renovaveis SA (EDPR:LIS), 0 | SMA Solar Technology AG (S92:ETR), 0 | TESLA MOTORS (TSLA:NYSE), 0 | Tesla, Inc. (TSLA:NAS), 0 | BorgWarner (BWA:NYSE), 0 | BorgWarner Inc. (BWA:NYS), 0 | Orsted A/S (ORSTED:CPH), 0 | Orsted (ORSTED:CSE), 0 | Volvo Car AB Class B (VOLCAR.B:OME), 0 | Gestamp Automocion S.A. (GEST:MCE), 0 | Technip Energies NV (TE:PAR), 0 | Vitesco Technologies Group AG (VTSC:ETR), 0 | Ariston Holding NV (ARIS:MIL), 0 | Porsche AG (P911:ETR), 0 | DEME Group NV (DEME:BRU), 0 | EuroGroup Laminations S.p.A (EGLA:MIL), 0

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The EU IRA: Subsidise me!
Bayerische Motoren Werke AG (BMW:ETR), 0 | Linde Bangladesh Limited (LINDEBD:DHA), 0 | Linde plc (LIN:NYS), 0 | LINDE HOLDING BIEL N (KLILAB:SWX), 0 | Linde PLC (LIN:NYSE), 0 | LINDETEVES-JACOBERG (LJ:SGX), 0 | Linde India Ltd. (523457:BOM), 0 | Lindeman Asia Investment Corp. (277070:KRX), 0 | Linde Gas Srbija a.d. (LIND:BEL), 0 | RWE AG (RWE:ETR), 0 | Siemens Aktiengesellschaft (SIE:ETR), 0 | E.ON SE (EOAN:ETR), 0 | Volkswagen AG Pref (VOW3:ETR), 0 | Imerys (NK:EPA), 0 | Imerys SA (NK:PAR), 0 | Schneider Electric (SU:EPA), 0 | Schneider Electric SE (SU:PAR), 0 | Air Liquide (AI:EPA), 0 | L'Air Liquide S.A. (AI:PAR), 0 | Iberdrola (IBE:BME), 0 | Iberdrola SA (IBE:MCE), 0 | Renault (RNO:EPA), 0 | Renault SA (RNO:PAR), 0 | Porsche Automobil Holding SE Pref (PAH3:ETR), 0 | Stellantis N.V. (STLAM:MIL), 0 | Eramet (ERA:EPA), 0 | Eramet SA (ERA:PAR), 0 | Danieli & C Officine Meccaniche (DAN:BIT), 0 | Danieli & C. Officine Meccaniche S.p.A. (DAN:MIL), 0 | STMicroelectronics NV (STMPA:PAR), 0 | Atlas Copco Ab-A Shs (ATCOA:STO), 0 | Mercedes-Benz Group AG (MBG:ETR), 0 | Enel (ENEL:BIT), 0 | Enel SpA (ENEL:MIL), 0 | Infineon Technologies AG (IFX:ETR), 0 | Air Products & Chemicals (APD:NYSE), 0 | Air Products and Chemicals, Inc. (APD:NYS), 0 | Kingspan Group Plc (KRX:DUB), 0 | Freni Brembo (BRE:BIT), 0 | Brembo S.p.A. (BRE:MIL), 0 | Aurubis AG (NDA:ETR), 0 | Alfa Laval (ALFA:STO), 0 | Alfa Laval AB (ALFA:OME), 0 | Boliden Ab (BOL:STO), 0 | Boliden AB (BOL:OME), 0 | Wacker Chemie AG (WCH:ETR), 0 | Meyer Burger Technology AG (MBTN:SWX), 0 | Maire Tecnimont (MT:BIT), 0 | MaireTecnimont SpA (MAIRE:MIL), 0 | EDP Renovaveis (EDPR:ELI), 0 | EDP Renovaveis SA (EDPR:LIS), 0 | SMA Solar Technology AG (S92:ETR), 0 | TESLA MOTORS (TSLA:NYSE), 0 | Tesla, Inc. (TSLA:NAS), 0 | BorgWarner (BWA:NYSE), 0 | BorgWarner Inc. (BWA:NYS), 0 | Orsted A/S (ORSTED:CPH), 0 | Orsted (ORSTED:CSE), 0 | Volvo Car AB Class B (VOLCAR.B:OME), 0 | Gestamp Automocion S.A. (GEST:MCE), 0 | Technip Energies NV (TE:PAR), 0 | Vitesco Technologies Group AG (VTSC:ETR), 0 | Ariston Holding NV (ARIS:MIL), 0 | Porsche AG (P911:ETR), 0 | DEME Group NV (DEME:BRU), 0 | EuroGroup Laminations S.p.A (EGLA:MIL), 0
- Published:
22 Mar 2023 -
Author:
Brough Martin MB | Pearson Stuart SP | Wyburd Harry HW -
Pages:
100 -
Finally, some good news! Regulation might seem an unlikely cause for celebration, especially when it''s the allegedly underwhelming, piecemeal and confusing EU IRA response.
But the picture changes when we crunch the numbers. It''s true the opportunities aren''t always obvious and don''t always fall when or where you''d expect. Tot them up, however, and we''re talking about EUR50bn on the table per year to drive forward green tech in Europe.
We''ve brought together our Macro and Sector teams in a major new cross-sector report to provide a handy primer on how the EU programmes will work, plus a basket of nearly 40 EU-IRA winners to follow the flow of likely state aid subsidies.