Sustainable Growth Programme for Finland
Call for applications for funding to promote the green transition in energy system and industry starts
The first application round for energy investment subsidies under the Sustainable Growth Programme for Finland will take place from 20 December 2021 to 4 March 2022. Funding will be available for energy infrastructure projects, new energy technology, production and storage of low-carbon hydrogen, carbon dioxide capture and use, and investments to reduce carbon use and electrify industrial processes.
The aim is to reduce Finland’s greenhouse gas emissions, support Finland’s carbon neutrality targets and encourage businesses to adopt renewable energy and new energy technology.
The first application round is intended for energy investment and infrastructure projects with investment costs exceeding EUR 5 million.
“The energy investment subsidies will be allocated to large-scale projects that have real effectiveness. The funding now available will promote the green transition by launching major investments in energy and hydrogen in Finland,” says Minister of Economic Affairs Mika Lintilä.
Companies and corporations eligible for energy investment aid
The funding will be directed to investments related to green transition, which is the first pillar of the Sustainable Growth Programme. A total of EUR 520 million has been reserved for this funding.
Using the same application form, funding can be applied for
- investments in energy infrastructure,
- investments in new energy technology,
- capture and use of hydrogen and carbon dioxide, and
- direct electrification and decarbonisation of industrial processes.
Aid may be granted to companies and corporations, and only to projects or parts of projects that would not be launched without the aid.
The projects must be completed by 30 June 2026.
First aid decisions likely to come in spring 2022
Applications for funding will be submitted through Business Finland’s electronic services, but the Ministry of Economic Affairs and Employment will make the funding decisions.
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” principle, meaning that the implementation of investments must not cause significant harm to environmental objectives.
The schedule of aid decisions depends on the number of applications and the need for processing. The Ministry aims to make the first decisions in spring 2022.
The Ministry will organise an information event on the call for applications on 14 January 2022.
Antti Siika-aho, Special Adviser to the Minister of Economic Affairs, tel. +358 29 504 7228
Juho Korteniemi, Chief Specialist, Ministry of Economic Affairs and Employment, tel. +358 29 504 7054 (Sustainable Growth Programme, energy)
Jyrki Alkio, Chief Specialist, Ministry of Economic Affairs and Employment, tel. +358 29 504 7103 (Sustainable Growth Programme, industry)
Ossi Paanala, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 29 504 7310 (processing of project)
Saara Ylikraka, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 29 504 7321 (legal affairs)
Information event on energy investment subsidies on 14 January 2022 (in Finnish)
Press release, 16 December 2021: Energy investments of Finland’s Sustainable Growth Programme promote the green transition