REPowerEU – Recovery and Resilience Plan

The EU is seeking to cut its dependency of Russian fossil fuels and to speed up the transition to clean energy. To this end, the EU launched the REPowerEU plan, which is part of the Recovery and Resilience Facility (RRF).

The Union will grant a total of EUR 20 billion in funding for measures under REPowerEU. The EU is funding the plan mainly by selling emission allowances belonging to the EU Innovation Fund and by bringing forward the sale of emission allowances allocated to Member States.

Finland will receive a maximum of EUR 127 million in new funding. In order for Member States to apply for funding, they must add a REPowerEU chapter to their Recovery and Resilience Plan (RRP). The new chapter sets out investments and reforms that promote the objectives of the REPowerEU plan.

Finland will allocate the funds as follows:

• speeding up permit procedures in a manner compatible with the regional government reform, EUR 32 million
• R&D and pilot projects relating to clean energy and material flows, EUR 40 million
• investments in the clean transition, EUR 54.5 million
• transition of Åland’s energy system, EUR 0.7 million.