How to invest in projects without giving state aid

Any investment of public money in a private undertaking has the potential to be unlawful state aid if it gives that undertaking an economic advantage over its competitors.

Unlawful state aid can be clawed back, so naturally public bodies are keen to make sure that their investments are lawful.

One way of doing this is to act as a ‘market economy operator’ — in other words, to act as a private sector investor operating under the relevant market conditions…

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