Draft decree on Recovery and Resilience Plan related energy investment aid for 2022–2026 out for comments
A draft government decree on aid for energy investments under Finland’s Recovery and Resilience Plan in 2022–2026 is now complete. The Ministry of Economic Affairs and Employment is requesting comments on the draft at the Lausuntopalvelu.fi service by 20 October 2021.
The aid scheme promotes energy investment and energy infrastructure projects that reduce greenhouse gas emissions in Finland and support the 2035 carbon neutrality target. The scheme also aims to reduce the technological and economic risks related to renewable energy and new energy technologies, for example in hydrogen projects.
According to the decree, aid could be granted to energy infrastructure projects specified in the RRP, new energy technology, production and storage of low-carbon hydrogen, carbon dioxide capture and use, and investments to reduce carbon use and electrify industrial processes.
The decree would lay down provisions on subsidised projects, the conditions and amount of aid and eligible costs. It would also set time limits for project completion and reporting, based on the deadlines in the EU Regulation on the Recovery and Resilience Facility (RRF) and Finland’s RRP.
The Ministry of Economic Affairs and Employment and Business Finland would decide on the allocation of aid, based on the thresholds set in the decree. In addition, Business Finland would grant aid to Important Projects of Common European Interest related to hydrogen.
The EU Regulation establishing the RRF was issued on 12 February 2021. It aims to help the Member States to recover from the coronavirus crisis. In order to receive financial assistance, Member States must present national recovery and resilience plans. Finland’s RRP is part of the Sustainable Growth Programme for Finland. It supports growth that is ecologically, socially and economically sustainable in line with the aims of the Government Programme.
Under the RRP’s measures related to green transition, aid can be provided to energy infrastructure investments, waste heat recovery, new energy technology, industrial electrification projects and hydrogen projects.
Inkeri Lilleberg, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 50 472 0706 and inkeri.lilleberg(at)gov.fi
Nicoleta Kaitazis, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 50 434 5386 and nicoleta.kaitazis(at)gov.fi