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Investment aid for energy infrastructure and electrification and decarbonisation of industry is available until 13th of November

Ministry of Economic Affairs and Employment
Publication date 13.10.2023 15.36
Press release

The third application round for the RRF energy investment aid under the Sustainable Growth Programme for Finland will take place from 13th of October to 13th of November 2023. Funding is available for the electrification and decarbonisation of industrial processes (P1C2I2.)

The aim is to reduce Finland’s greenhouse gas emissions, support Finland’s carbon neutrality targets and encourage businesses and, in particular, industry to replace fossil fuels with green energy.

The funding will be allocated to investments under the first pillar of the Sustainable Growth Programme, i.e. the green transition. 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 aid. The projects must be completed by 30th of June 2026.

Applications may be submitted for projects with eligible costs over EUR 1 million. However, priority will be given to large projects with costs over EUR 5 million.

Aid may be granted to:

  • projects that promote electrification and decarbonisation of industry through heat pump technology, electrification of steam production and surplus heat from industry.
  • projects that improve energy efficiency: e.g., surplus heat from manufacturing industry can be utilised in production processes or as district heat.

The schedule for aid decisions depends on the number of applications and the need for processing.

Applications, which should be submitted via the online services of Business Finland, will be accepted from 13th of October.

The Ministry of Economic Affairs and Employment will make aid decisions for projects where the eligible costs exceed EUR 5 million. Meanwhile, Business Finland will make aid decisions for projects related to electrification and decarbonisation of industrial processes where the eligible costs are EUR 1–5 million.

In considering the applications, the Ministry will pay particular attention to energy and emission impacts of the projects, cost-effectiveness, feasibility, novelty value of the technology included in the projects, replicability of the technology or project, and other impacts of the projects. The applications must also comply with the “Do No Significant Harm” (DNSH) principle, meaning that the implementation of investments must not cause significant harm to environmental objectives.

Inquiries:
Pekka Kärpänen, Senior Specialist, tel. +358 295 047 882 (project processing)
Irene Heikkilä, Senior Specialist, tel. +358 295 047 158 (aid programme, RRF)
Daniela Karlsson, Senior Specialist, tel. +358 295 047 371 (aid programme, RRF)
Email addresses are in the format firstname.lastname(at)gov.fi

Funded by the European Union – NextGenerationEU