15 companies applied for investment aid for large-scale demonstration projects on new energy technology

By the deadline at the end of May, the Ministry of Economic Affairs and Employment received 15 proposals for investment aid for large-scale demonstration projects on new energy technology. The total amount of funding requested for these projects was EUR 140 million.

Of the applications, six concern replacing coal and other fossil fuels in urban areas, four are biorefinery projects, and five are other types of demonstration projects related to new energy technology. The total investment costs of these projects would come to EUR 1,285 million.

Investment aid for large-scale demonstration projects on new energy technology is directed to future energy solutions that contribute to meeting the national and EU energy and climate objectives by 2030.

This call is targeted to projects with investment costs more than EUR 5 million. The aim of this investment aid is to promote new, nationally and internationally scalable solutions based on new energy technology.

The projects to be funded will be selected based on an overall consideration and a comparison of the different projects. Special emphasis is given to the innovation degree of the selected technology. Other criteria include project feasibility, the amount of energy produced, cost-effectiveness, and other impacts.

This year the ministry has allocated EUR 40 million for this call. It is estimated that the Ministry of Economic Affairs and Employment will select the projects to be funded in November 2019.

Projects excluded from this call for proposals, i.e. with expenditure less than EUR 5 million, may still apply funding from the energy aid programme (see https://tem.fi/en/energy-aid).

Inquiries:
Annukka Saari, Senior Specialist, MEAE, tel. +358 29 504 7197
Kati Veijonen, Senior Specialist, MEAE, tel. +358 29 504 7170