Investment aid for renewable energy and new energy technology
The investment aid is intended for future energy solutions so that Finland can achieve its national targets and the targets laid down at EU level for 2030. An enterprise, municipality or other corporation may apply for investment aid for an investment with eligible cost exceeding EUR 5 million that concerns:
- production of advanced transport biofuels;
- a pilot project for new energy technology that promotes heat or power generation or cogeneration of heat and power with renewable energy or commercial introduction of other new energy technologies.
The investment aid applications must be submitted to the Ministry of Economic Affairs and Employment.
Application round 1: The applications for investment aid must be submitted by 18 March 2016. The information supplementing the applications must be submitted by 17 June 2016. The decisions are expected to be made in early 2017.
Application round 2: The applications for investment aid must be submitted by 20 January 2017. The information supplementing the applications must be submitted by 17 March 2017. The decisions are expected to be made in early 2018.
The Ministry of Economic Affairs and Employment will make its decisions on the granting of the investment aid by examining the amount of the aid applied and by assessing the projects’ energy impacts, cost-efficiency and viability, the novelty value of the project technology, replicability of the projects or the technology and other impacts.
The investment aid will be paid in arrears on application on the basis of the project progress and the actual costs paid. As a rule, the last payment instalment is at least 20 per cent of the aid granted. The last instalment of the aid granted in 2017 will be paid in 2019 at the latest and the last instalment of the aid granted in 2018 will be paid in 2020 at the latest.