By 26 May 2023, 24 new applications were received in the second application round for energy investment aid under Finland’s Recovery and Resilience Plan. Funding is available for energy infrastructure projects and the electrification and decarbonisation of industrial processes.

Luxembourg will fund solar power projects in Finland with EUR 40 million through a new EU renewable energy financing mechanism. The projects will be selected through competitive tendering carried out by the European Commission and the European Climate, Environment and Infrastructure Executive Agency (CINEA).

On 27 October 2022, the Government decided to grant EUR 3 million to the Centre for Economic Development, Transport and the Environment of Central Finland for managing the sudden structural change in Jämsä. The funding will be especially allocated to investment and development projects of SMEs that create new jobs and support business renewal.

On 4 October, the Ministry of Economic Affairs and Employment made the first energy investment aid decisions under Finland’s Recovery and Resilience Plan to promote clean energy solutions. Aid was granted to six projects totalling EUR 99.8 million.

The Government has approved Finland’s participation in the EUR 700 million InvestEU guarantee scheme for small and medium-sized enterprises (SMEs), households and housing companies. The programme promotes investments in clean technology solutions. Finland will invest EUR 100 million in the European Investment Fund’s (EIF) Sustainability Guarantee product, which is a guarantee programme delivered through financial institutions. It is estimated that the leverage effect of Finland’s contribution is seven times higher.