Finland allocated a total of EUR 100 million for renewable energy and new technology investments for 2016-2018.
By 2019, the investment aid is no longer available for new projects, however, the funding of projects admitted to the scheme does continue according to the contracts.
This specific investment aid was intended for future energy solutions so that Finland can achieve both the national targets and the targets laid down at EU level for 2030.
An enterprise, municipality or other corporation may apply for investment aid for an investment with eligible cost exceeding EUR 5 million for the following types of projects:
- production of advanced biofuels (transportation);
- new energy technology that promotes heat or power generation or cogeneration of heat and power with renewable energy or commercial introduction of other new energy technologies.
Investment aid can be up to 40 per cent of the project’s costs (in assets investment).
Project proposals presented to the Ministry of Economic Affairs and Employment are evaluated based on the energy impacts, cost-efficiency and viability, the novelty value of the project technology, replicability of the projects or the technology and other impacts.
All technologies are eligible: solar, wind, geothermal, biogas, biomass, hydro-power.