62 projects apply for REPowerEU investment aid for energy technology

By 29th February 2024, 62 new applications were received in the application round for REPowerEU energy investment aid under Finland’s Recovery and Resilience Plan. The available investment aid will be allocated to new energy technology projects and production of renewable hydrogen.

The amount of aid applied for was approximately EUR 400 million, wheras the amount of aid available is EUR approximately 54.5 million. A list of the applications received is attached to this press release.

The aid scheme aims to promote the introduction of new energy technologies and hydrogen projects that advance national and EU energy and emission reduction targets. 

Aid decisions to be made during 2024 

The Ministry of Economic Affairs and Employment will make the aid decisions for this round of applications by the end of 2024. The granting of aid will be based on overall consideration and comparison of projects. The projects must be completed by 30th June 2026.

The evaluation will consider the projects 

• impacts on energy and emissions, 
• cost-effectiveness 
• feasibility
• replicability of a technology or project, and 
• other effects.

A total of approximately EUR 444 million has previously been granted for energy investment aid under Finland’s Recovery and Resilience Plan. The Ministry has made aid decisions amounting to around EUR 378 million and Business Finland has supported projects by approximately EUR 66 million. 

Inquiries: 
Irene Heikkilä, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 295 047 158, firstname.lastname(at)gov.fi 
Daniela Karlsson, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 295 047 371, firstname.lastname(at)gov.fi