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EU Innovation Fund launches REPowerEU application round for large projects

Ministry of Economic Affairs and Employment
Publication date 3.11.2022 16.31 | Published in English on 7.11.2022 at 15.20
Press release

The EU Innovation Fund’s third application round for large projects began on 3 November 2022. A total of EUR 3 billion is available for investments in decarbonisation, electrification of industry, hydrogen, and manufacturing and piloting of energy technologies. The deadline for applications is 16 March 2023.

This call for applications under the REPowerEU plan covers the following categories:

  • General decarbonisation projects (EUR 1 billion). The category includes innovative projects related to renewable energy, energy-intensive industries, energy storage or carbon capture, use and storage, and projects that replace carbon-intensive products, such as low-carbon transport fuels.
  • Electrification in industry and hydrogen (EUR 1 billion). In this category, funding is available to innovative electrification projects that replace the use of fossil fuels in industry, production of renewable hydrogen or the use of hydrogen in industry;
  • Clean technology manufacturing (EUR 700 million) seeks innovative projects for manufacturing of components and equipment for electrolysers, fuel cells, renewable energy, energy storage and heat pumps.
  • Mid-sized pilot projects (EUR 300 million). In this category, funding is available for highly innovative breakthrough technologies that have not yet been commercialised. 

EU online information events on 29 and 30 November 

The European Commission’s Directorate-General for Climate Action (DG CLIMA) and the European Climate, Infrastructure and Environment Executive Agency (CINEA) will organise webinars on the calls at the end of November.

The webinar on Tuesday 29 November 2022 at 14.00 will look at experiences, statistics and best practices from the previous application round for large projects.

Meanwhile, the first part of the InfoDay webinar on Wednesday 30 November 2022 at 10.00 will discuss the categories of the new application round and the criteria for granting aid. The second part in the afternoon will look at the methods for calculating the acceptable costs and emissions reductions.

More information about the webinars is available on the European Commission’s Innovation Fund website.

Information about the national events that will be organised in Finland concerning the call for applications will be provided separately.

The Innovation Fund has already funded several Finnish projects. In the first application round, Neste Oyj received EUR 88 million for the development of the Porvoo refinery to advance green hydrogen production and the capture and storage of carbon dioxide. In the second application round, Neste Oyj was granted EUR 135 million to develop the chemical recycling capacity at the Porvoo refinery. A project by Metsä Spring also received funding in the second round.

Juho Korteniemi, Chief Specialist, Ministry of Economic Affairs and Employment, tel. +358 26 504 7054 
Timo Ritonummi, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 29 506 4798

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