Ministry of Economic Affairs and Employment sets energy aid priorities for 2024
The Ministry of Economic Affairs and Employment has outlined the priorities for energy aid in 2024. Energy aid promotes the production of renewable energy, renewable hydrogen and fuels refined from it, energy saving or more efficient production or use of energy, utilisation of waste heat or the transition towards a low-carbon energy system in other ways.
Nearly EUR 31 million in RRF energy investment aid granted to clean energy projects
The Ministry of Economic Affairs and Employment has granted approximately EUR 30.9 million in energy investment aid under Finland’s Recovery and Resilience Plan to 12 projects related to energy infrastructure and the electrification and decarbonisation of industrial processes. Minister of Climate and the Environment Kai Mykkänen signed the aid decisions on 19 December 2023.
Hydrogen enables clean transition – and requires large investments
Hydrogen is the fuel of the stars and makes our life possible. Humanity, however, is still in its infancy in harnessing fusion nuclear power as an energy source, so the role of hydrogen on Earth is different - at least for the moment. Traditionally, it already works as a raw material for many industrial processes, for example oil refining. A new, climate-based need is to utilize clean hydrogen in industrial processes that replace fossil-based production.
Updating of sectoral low-carbon roadmaps begins
The Ministry of Economic Affairs and Employment has started to update the low-carbon roadmaps together with the sectors. During the previous government term, 13 sectors drew up roadmaps describing their paths towards a low-carbon economy. Industry-specific approach helps to ensure that the roadmaps are ones that companies in the sector can identify with and genuinely commit to.
Radical events in the Finnish gas market - security of supply ensured
It's only been four years since Finland's natural gas imports were entirely dependent on the Russian pipeline connection. At the beginning of 2020, the Balticconnector between Finland and Estonia was commissioned, and a year ago, in the conditions of energy crisis, so was the floating LNG terminal in Inkoo. In an amazingly short time, Finland has changed gas monopoly to global LNG market. After the Balticconnector pipeline breach in October 2023, the task is to secure steady deliveries of gas over the winter.
