Danish tomato grower in the red because of repayment co-generation subsidy

Horticulture company Alfred Pedersen & Søn in Funen (Denmark) had to repay 800,000 euros in government subsidies. Because of this, the annual figures of the tomato grower show a loss of € 560,000, compared to a profit of € 68,000 in 2017. It is about the so-called co-generation subsidy, which was granted to companies which made use of a co-generation installation. From 2013 to mid-2017, companies with such an installation were granted a subsidy by the Energy Agency. When they discovered that these subsidies were in violation of EU regulations, the companies had to repay the excess amount, according to news site Fyens.

Mads Clausen, financial director Alfred Pedersen & Søn, said: "It is very annoying that we have to repay money we have received in good faith. The money has been reinvested by now, such as a new greenhouse. Luckily, the company is in good shape, so we can deal with the loss. And if we get a normal Danish summer, we will make a profit this year."

Source: landbrugsavisen.dk

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