Nine demonstration projects on new energy technology receive EUR 90 million in investment aid

The Ministry of Economic Affairs and Employment has granted investment aid to nine demonstration projects on new energy technology. In total, the projects received approximately EUR 90 million.

They relate to the production of electrofuels and biogas, carbon capture, generation of district heat and steam not based on combustion, and storage of heat. The link to the appendix below provides more detailed information on the funded projects in Finnish.

A press release on three projects that required the approval of the Ministerial Finance Committee was published already on 14 December 2023: Investment aid granted for three demonstration projects on new energy technology, including carbon dioxide capture (in Finnish)

A total of EUR 153 million was reserved for large-scale demonstration projects on new technology in the 2022 Budget. As per the decision of the Ministerial Working Group on Preparedness, EUR 50 million of this amount was designated for hydrogen projects in spring 2022. Of this budget authority, the Ministry of Economic Affairs and Employment granted EUR 46 million to Nordic Ren-Gas Oy for the production of renewable methane in December 2022 (in Finnish).

The projects granted investment aid now were selected from 31 applications received in 2022.  Previously submitted applications for which no decision had yet been made were also considered in the application round. 

The applications were evaluated and compared with each other. The project’s demonstration value, feasibility, energy impacts, cost-effectiveness and other impacts were assessed in the overall consideration. The aim is to grant support to projects so that the objectives concerning future energy solutions can be achieved in the best possible way when assessed as a whole.

Inquiries:
Pekka Grönlund, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 29 506 4815, pekka.gronlund(at)gov.fi
Olli Salo, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 29 504 732, olli.salo(at)gov.fi