"Today's economic challenges have highlighted the importance of the transition to a green economy. Being resilient to fluctuations in energy prices is vital, and we are working to help industry improve energy efficiency and accelerate the transition to renewables," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
The Modernisation Fund will provide funding for manufacturing companies that participate in the Emissions Trading Scheme. EUR 30 million is allocated for the introduction of energy-efficient production technologies in industrial enterprises. The maximum subsidy is EUR 10 million. Up to 30 % of the costs will be financed for large industrial enterprises, while this intensity may be increased by 10 percentage points for smaller enterprises.
To increase the use of renewable energies, €10 million is earmarked to finance the purchase and installation of solar and wind power plants. The maximum subsidy is €2.5 million and up to 45% of the costs will be financed.
Applications will be accepted and projects will be managed by the Environmental Project Management Agency (EPA) from from October 6th, full details of the calls are available here.
The Ministry of the Economy and Innovation has earmarked almost €1 billion for economic strengthening by the end of 2023. Of this, €268 million is earmarked for the greener economy. The bulk of this money, around €170 million, will be spent on a wide range of investment projects focusing on renewables, fossil fuel divestment, and operational efficiency for small, medium-sized and large companies.
A call for proposals under the EU Funds Investment Programme 2021-2027 is expected to be launched shortly, with €13 million available for small and medium-sized enterprises. They will be able to use these funds for sustainable industrial transformation and the development of environmentally friendly products and technologies.
For more information on the planned measures, click here.
