The call for applications on investment aid for energy infrastructure projects under Finland’s Recovery and Resilience Plan (RRP) has been opened. Applications will be accepted until the 15th of May 2024. The aid may be granted to companies and corporations for projects, where eligible costs exceed EUR 5 million. The investment aid available for projects is approximately EUR 35 million.

The Utajärvi solar power project of Oulun Seudun Sähkö is the first Finnish project that has signed a grant agreement under the EU renewable energy financing mechanism with the European Climate, Infrastructure and Environment Executive Agency CINEA.

Clean energy is one of the main themes of Prime Minister Petteri Orpo’s government program in Finland. The energy and climate policy actions for the coming years will be outlined in a comprehensive national strategy. The key objective is to establish a predictable and economically sustainable foundation for the significant investment efforts needed to advance both climate goals and our national economy.

By 29th February 2024, 62 new applications were received in the application round for REPowerEU energy investment aid under Finland’s Recovery and Resilience Plan. The available investment aid will be allocated to new energy technology projects and production of renewable hydrogen.

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.