After an in-depth investigation of the financing granted by Denmark to the Fehmarn project, the European Commission concludes that this constitutes State aid – as maintained by Scandlines, among others, throughout the procedure.

The in-depth investigation was necessary, as the Court of Justice of the European Union in 2018 annulled the European Commission’s initial decision given in 2015, thereby removing the financial foundation for the Fehmarn project.

The ruling finds in favour of Scandlines’ claims by concluding – as opposed to the Danish state’s original assertion – that, firstly, the financial aid to the Fehmarn project constitutes State aid and, secondly, that both the amount and the aid period must be limited. These measures were not part of the initial decision. 

The European Commission thus confirms by its approval that the use of State guarantees on loans and State loans must be limited to covering a debt of maximum EUR 9.3 billion, and maximum the first 16 years of operations.

“We look forward to reading the approval in its entirety, but can already ascertain that it supports our most important appeals. We have not only received support for our appeals, but today’s announcement from the European Commission concludes that the financial aid is State aid. The European Commission also confirms that the amount of the aid must be limited and that the loan cannot run for 55 years, but must be limited to a maximum of 16 years after the opening of the Fehmarn Belt link. This is what we have wanted and expected throughout the procedure – and it gives us a much better basis on which we can operate and compete, which naturally pleases us,” says Søren Poulsgaard Jensen, CEO of Scandlines.

When the European Commission’s decision has been made public in full, Scandlines will decide whether to appeal against parts of it.