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State Aid

State Aid: ESA approves regional aid for Silicor Materials in Iceland

29.7.2016

PR(16)37

EN | IS 

The EFTA Surveillance Authority (ESA) has approved aid to Silicor Materials, notified by the Icelandic authorities, for the construction of a high-quality solar silicon plant at the Grundartangi industrial site in the Vesturland region.

The aid, at the amount of EUR 29.33 million in net present value, is planned to be granted through different measures, e.g. tax and social security charge reductions, flexible depreciation rules and flexible lease provisions. The new solar silicon plant is envisaged to employ approximately 450 employees, and the level of wages in the area is expected to increase.

The Regional Aid Guidelines require EFTA States to prove the regional contribution of individual investment aid, by demonstrating in particular that the aid is kept to the minimum necessary and that the advantages in terms of regional development outweigh any possible negative effects on competition.

Sven Erik Svedman, President of ESA, stated: “The aid to Silicor materials in Vesturland, Iceland is based on a development strategy and provides benefits for the whole region, similar to those stemming from regional aid schemes. Whereas regional aid is normally best granted under a regional aid scheme, ESA has therefore been able to approve the individual aid in this case.”

ESA further considers that the notified plans would not have materialised without State intervention and will contribute to the development of the region, increase economic diversification, attract new businesses, create jobs and promote the regional economy.

A non-confidential version of the decision will be published in the register of state aid decisions on ESA's website, normally within a month.

For further information, please contact:

Ms. Ásdís Ólafsdóttir
Communication Officer
tel. (+32)(0)2 286 18 97
mob. (+32)(0)490 57 63 49 




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