European Commission approves US$170M Scheme to support Danish fish processing sector’s green transition

DENMARK – The European Commission has given the green light to a €155 million (roughly US$170 million) initiative aimed at supporting Denmark’s fish processing industry in its efforts to transition to more sustainable energy sources.

This state aid scheme, designed to assist the fisheries and aquaculture processing sectors, will offer direct financial support to large Danish fish processors. 

It is specifically geared towards projects focused on enhancing energy efficiency and cutting CO2 emissions by moving towards eco-friendly energy solutions. 

The European Commission approved the initiative under Europe’s state aid regulations for environmentally friendly energy practices.

The program is set to run through December 31, 2029, providing financial assistance to companies within the Danish fish processing sector as they work to meet environmental goals.

Denmark remains a key player in the global fish production and processing market. 

In 2022, the country’s aquaculture sector accounted for 38,000 tonnes, or 7.7% of its total fish production, which reached 496,000 tonnes that year. 

Denmark’s fish industry is also a significant exporter, with the European Union receiving roughly 80% of its fish and fish products. 

In 2023, the total value of Danish fish exports was estimated at US$5 billion.

The Danish fish processing sector, including both wild-caught and farmed fish, plays a crucial role in the economy, with processed fish products reaching a total value of approximately US$2.3 billion in 2022. 

The new financial scheme aims to further support these companies in reducing their environmental impact while maintaining Denmark’s strong position as one of the world’s largest fish exporters.

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