Europe's $43 Billion Green Fund Faces Hurdles as Key Projects Struggle

The EU's $43 billion Innovation Fund aims to help Europe reach net zero emissions by 2050, but some key projects have struggled to get off the ground.

A solar panel manufacturer, a battery maker, and a green hydrogen project backed by the fund have faced issues like laying off staff or losing funding.

Attractive US green subsidies and competition from cheap Chinese imports have made it difficult for some European renewable tech manufacturers to survive.

The fund gets its money by making polluting industries pay, but some companies see the grants as too small or insufficient to compete with overseas rivals.

Europe's plans to ramp up green hydrogen production have been hampered by rising electricity prices and lack of guaranteed renewable energy access.