Subsidy II (Investment Aid for Renewable Energy and New Energy Technologies)
Updated: 07.01.2019
Author: Karl Wikberg
A support scheme granting investment aid for renewable energy and new energy technologies. Investment aid may be granted against a fixed assets investment. 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.
Eligible technologies
Decree No. 145/2016 states that the investment aid for renewable energies and new energy technologies is available for all technologies.
| Solar energy | Eligible. |
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| Wind energy | Eligible. |
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| Geothermal energy | Eligible. |
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| Biogas | Eligible. |
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| Hydro-power | Eligible. |
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| Biomass | Eligible. |
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Amount
Under Decree No. 145/2016, the investment aid is granted against a fixed assets investment with eligible costs exceeding € 5,000,000. Investment aid can be up to 40 per cent of the project’s costs (§5, §10 Decree No. 145/2016).
Addressees
Aid recipients can be companies, municipalities and other entities, excluding housing companies, residential properties and farms (§6 Decree No. 145/2016).
Procedure
Process flow | - Applications are directly submitted to the Ministry of Economic Affairs and Employment. Investment aid must be sought from the Ministry in the first round of applications no later than 18 March 2016 or in the second round of applications at the latest on 20 January 2017. The Ministry will assess the projects based on the amount applied for, the energy impact of the project, cost-efficiency, feasibility, novelty, duplicability, and other effects (§7-10 Decree No. 145/2016).
- The investment aid is paid out in parts, whereas the first part is transferred after three months of a decision by the Ministry on the project.
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Competent authority | The Competent Authority is the Ministry of Employment and the Economy. |
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Distribution of costs
| State | The cost of the subsidy is borne by the state (§1 Decree No. 145/2016). |
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Finland
