EC backs excise relief for biofuel production

THE production of fuel from crops grown in Ireland has been given a huge boost by the European Commission.

Provision was made in the 2004 Finance Act for an excise relief on biofuels, where these are deemed essential to a pilot project, but the Commission’s approval was required.

Minister for Finance, Brian Cowen has welcomed European Commission State aid approval for the Scheme of Excise Relief for Biofuels.