"Given the record level of interest from industry in the Renewable Energy Facility, together with other institutions we have sought and found a way to increase the amount of funding to €31.87 million instead of the planned €10 million. The funds will be distributed to all 266 eligible projects in a total of three phases. The willingness of business to invest in renewable energy shows that we are actively preparing for the transition to a climate neutral economy. This is a very significant step for Lithuania," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
The first phase provided €9.83 million in funding to 66 companies and €10.11 million to 72 companies in the second phase. In the two phases, 94 micro, small and medium-sized enterprises (SMEs) were granted €12.11 million. 44 large enterprises were granted €7.83 million.
"Under this measure, industrial enterprises implementing projects will have the opportunity to purchase equipment for the production of renewable energy generated from solar energy. This will have a dual environmental and economic benefit, both in terms of promoting sustainable energy use," said Iveta Paludnevičiūtė, Chancellor for the Economy and Innovation.
A maximum of €300,000 is available per project.
The most active participants were wood, food, furniture and metal producers.
To strengthen the Lithuanian economy, the Ministry of the Economy and Innovation plans to launch calls for proposals worth almost €1 billion by the end of 2023. Of this, €268 million is earmarked for a greener economy.
