Eleven projects applied for investment aid for large-scale demonstrations on new energy technology
The Ministry of Economic Affairs and Employment received eleven applications for large-scale demonstration projects on new energy technology by the deadline set at the end of March.
The planned investments relate, for example, to the production of transport biofuels and biogas intended for transport use. During the current application round, the applications totalled EUR 70 million.
This year, as in 2019, the Government has reserved a total on EUR 40 million for the initiation of large-scale demonstration projects on new energy technology. The investment aid is intended for future energy solutions that contribute to meeting the national and EU energy and climate objectives for 2030.
The selected investments are to promote new, nationally and internationally scalable solutions based on new energy technology. The decisions to grant the aid are based on overall consideration and a comparison of the different projects. Special emphasis is placed on the novelty value of the technology included in the project. Other criteria include project feasibility, the amount of energy produced, cost-effectiveness and other impacts.
According to the preliminary timetable, the Ministry of Economic Affairs and Employment will make decisions on the aid in autumn 2020. In this application round, consideration will also be given to applications submitted last year which have not yet been granted funding. In 2019, funding was granted to three projects.
Projects of less than EUR 5 million to be handled via the regular application process for energy aid
The current application round was intended for projects where the investment costs exceed EUR 5 million. Projects excluded from the application round (with expenditure 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: https://tem.fi/en/energy-aid
Pekka Grönlund, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 295 064 815
Kati Veijonen, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 295 047 170
Tuula Savola, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 295 047 133