Ministry of Economic Affairs receives 31 new applications for large demonstration projects on new energy technology
New energy technology projects may be granted investment aid that aims to speed up the introduction of new technologies and help Finland achieve the national and EU climate targets by 2030. A total of about EUR 153 million will be available for large-scale demonstration projects on new energy technology in 2022.
By the deadline, the Ministry of Economic Affairs and Employment received 31 new investment aid applications for large-scale demonstration projects on new energy technology in 2022. In addition to these applications, the Ministry will also process previously received applications still awaiting a decision.
Companies that submitted applications for the so-called RRF energy investment aid in March were also able to submit applications in this round in case their application for RRF funding would turn out to be unsuccessful. Most of the aid decisions related to the RRF energy investment aid will be made at the end of 2022, but some may come earlier. Information on these decisions will be provided separately.
A total of EUR 153 million has been reserved for large-scale demonstration projects on new technology in the 2022 Budget. As per the policies of the Ministerial Working Group on Preparedness, EUR 50 million of this amount is reserved for hydrogen projects. Depending on the processing of the RRF energy investment aid projects, the first aid decisions will be made at the end of 2022 at the earliest.
Investment aid supports new technology solutions
Large-scale demonstration projects include energy aid projects with investment costs of at least EUR 5 million. The aim of the aid scheme is 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.
Aid may be granted to companies and other entities such as municipalities, and only to projects or parts of projects that would not be launched without the energy aid. A decision regarding the aid must be issued before project launch. Aid will not be granted to housing companies, residential properties or farms, or any projects related to these.
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