28.12.2016

Investment aid applications for key energy projects

Investment aid applications for key energy projects due by 20 January 2017

Applications for investment aid for renewable energy and new energy technology must be submitted to the Ministry of Employment and the Economy (TEM) by 20 January 2017. Any information supplementing the applications must be submitted by 17 March 2017. A total of €40 million in aid will be awarded to select projects. Decisions concerning the current application round are expected in early 2018.

 

The aid programme is related to the key energy project of the Government of Juha Sipilä. The aim of the investment aid is to reduce the economic and technological risks associated with renewable energy and new energy technologies. The aid will be allocated to projects that are ideal for promoting the development and adoption of future energy solutions to meet both national and EU-level targets for 2030 and that would not be implemented without the investment aid.

 

The investment aid can be awarded to enterprises, municipalities or other corporations for investments exceeding €5 million related to the production of advanced biofuels or pilot projects for new energy technology that promote the use of renewable energy in the generation or co-generation of heat and electricity or the commercial launch of other energy technologies.

 

The applications for investment aid will be compared against each other. The aid will be granted based on an overall assessment that takes into account not only the amount and cost-efficiency of the energy to be produced but, especially, the novelty value of the technology and the feasibility and replicability of the project or technology.

 

Decisions on first application round expected in January 2017

 

The Ministry of Employment and the Economy received a total of 55 applications for investment aid for renewable energy and new energy technology projects in the first application round, which ended in March 2016. 30 of the applications were supplemented by the deadline of 17 June 2016.

 

These applications are currently being processed and compared against each other. The aim is to announce the decisions on the first application round in early 2017.

 

The applications received in the first round included a wide variety of renewable energy production projects, and energy saving and efficiency projects. The renewable energy projects focused on solar and wind power, biogas, geothermal energy and so-called hybrid solutions. A number of applications related to fuel production were also received. A total maximum of €40 million will be awarded to the projects submitted in the first application round. Unsuccessful applications can be re-submitted in the application round of 2017.

 

Application and more information (in Finnish):

 

For more information:

Pekka Grönlund, Ministry of Employment and the Economy, tel. 029 506 4815
Kati Veijonen, Ministry of Employment and the Economy, tel. 029 504 7170