Investment aid of EUR 40 million available for new energy technology demonstration projects

Ministry of Economic Affairs and Employment 13.2.2019 10.59 | Published in English on 19.2.2019 at 7.57
Press release

The Ministry of Economic Affairs and Employment has opened a round of applications for investment aid for large-scale new energy technology demonstration projects for 2019. This year, EUR 40 million of the energy aid authorisation is reserved for this purpose. The application round, which is open until the end of May, is intended for projects with investment costs of more than EUR 5 million.

The objective of the investment aid is to help achieve the national and EU-level targets set for future energy solutions by 2030. Project categories eligible for aid are: 1) biorefinery projects, 2) replacement of coal and other fossil energy sources in urban areas, and 3) other large-scale new energy technology demonstration projects.

The objective of the aid programme is to promote solutions based on new energy technology that are replicable nationally and internationally. 

Investment aid supports new technology solutions

Decision to grant aid is 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. 

Applications for aid are to be submitted through Business Finland’s electronic system but they will be processed in the Ministry of Economic Affairs and Employment. The schedule in which aid decisions are issued depends on the number of applications and the need for processing. According to a preliminary schedule, decisions will be made in autumn 2019.

Applications should be submitted by 31 May 2019 through Business Finland’s electronic system. Applicants are requested to attach with their applications a form for large-scale demonstration projects provided for this purpose. More detailed information about energy aid and links to the application form and the electronic service: https://www.businessfinland.fi/en/for-finnish-customers/services/funding/sme/energy-aid/

Small projects of max. EUR 5 million are excluded from this application round. However, these renewable energy and energy efficiency projects are also eligible for energy aid (read more tem.fi/en/energy-aid).

Inquiries:
Pekka Grönlund, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel.  +358 29 506 4815
Annukka Saari, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 29 504 7197
Kati Veijonen, Senior Specialist, Ministry of Economic Affairs and Employment, tel. tel. +358 29 506 7170 (from 4 March 2019)
Markku Mäkelä, Product Manager, Business Finland, tel. +358 50 339 2516