Energy-intensive companies in Germany can now apply for new state energy subsidies potentially worth billions of dollars. Under the climate contracts, the German government will finance investments to convert industries to new, more climate-friendly production processes and initially cover additional costs incurred. The companies are expected to pay the money back once those new production processes become cheaper to operate and more competitive on the open market. Germany’s Economy Ministry announced the first round of bids for the contracts, worth €4 billion and carrying terms of up to 15 ye…