Eighty-six applications received for energy investment aid under the Sustainable Growth Programme for Finland

NordenBladet — By the deadline of 4 March 2022, 86 applications were received in the first application round for energy investment aid under Finland’s Recovery and Resilience Plan. The investment aid is intended for energy solutions of the future that aim to achieve carbon neutrality and improve competitiveness, among other things. The total amount of aid applied for was EUR 1.65 billion.The planned investments concern the transmission of electricity, hydrogen and district heat, solar and wind energy, biogas, hydrogen, electrification of industrial processes and energy efficiency. The projects are located across Finland. “The great interest of the industry and energy sector in such investments show that the pace of green transition is picking up. A quick exit from the fossil economy is now on the cards. These investments will also improve Finland’s security of energy supply,” says Minister of Economic Affairs Mika Lintilä.First aid decisions to be made in spring 2022The Government has reserved a total of EUR 520 million for these energy investments in the Sustainable Growth Programme for Finland.Applications will be processed in the Ministry of Economic Affairs and Employment. The Ministry aims to make the first aid decisions in the spring.The decision to grant the aid is based on overall consideration and a comparison of the different projects, including an evaluation of the novelty value of the project technology, for example. In addition, the evaluation will consider impacts on energy and emissions, cost-effectiveness, feasibility,replicability of a technology or project, and other impacts of the projects.The applications must also comply with the “do no significant harm” principle, meaning that the implementation of investments must not cause significant harm to environmental objectives.
Projects of less than EUR 5 million to be handled via the application process for energy aidThis application round was intended for large projects where the investment costs exceed EUR 5 million. Projects excluded from the application round (with costs less than EUR 5 million) will be handled via the regular application process concerning energy aid. These renewable energy and energy efficiency projects may still be eligible for energy aid. Read more: tem.fi/en/energy-aid

Source: Valtioneuvosto.fi