According to a statement, the European Commission approved 400 million euros ($480.12 million) in Danish state aid to promote the generation of electricity from renewable sources.

"This Danish scheme would lead to significant reductions in greenhouse emissions, endorsing the Green Deal's goals," said Margrethe Vestager, the commissioner in charge of the competition.

Denmark plans to promote energy production from onshore and offshore wind turbines, wave power plants, hydroelectric power plants, and solar technologies with a scheme that ensures stable prices for electricity producers, according to the announcement. (1 dollar = 0.8331 euro) (Sabine Siebold contributed reporting, and Marine Straus edited the piece.)