"With the first call, we have already distributed €10 million to 7 energy-intensive companies in the country. We are continuing to accelerate the transition to renewable energy and with the second call we are enabling companies to modernise their operations. Our goal is to create a greener and more resilient country, so these investments will create even more opportunities for Lithuanian industry," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
The €10 million call is open to industrial companies participating in the EU Emissions Trading Scheme. The maximum amount of funding per project is €2.5 million.
"This investment will enable some of Lithuania's most energy-intensive industries to install solar power plants that will increase energy efficiency, reduce pollution and save money. This will enable not only the companies but also Lithuania as a whole to move faster towards a climate-neutral economy," said Ieva Valeškaitė, Deputy Minister of the Economy and Innovation.
The Environmental Project Management Agency (EPMA) is accepting applications for funding for the deployment of renewable energy sources until 19 April 2024.
The Ministry of Economy and Innovation will launch almost €1 billion worth of calls by the end of 2023 to strengthen Lithuania's economy. Of this, €268 million is earmarked for greening the economy.
The majority of this money, around €170 million, will be allocated to a wide range of investment projects focusing on renewable resources to move away from fossil fuels and improve the efficiency of small, medium and large enterprises.
The Modernisation Fund is a European Union programme that aims to accelerate the achievement of climate change targets by financing energy efficiency and renewable energy projects. It is a key part of the European Green Deal investment plan.
A total of €40 million has been allocated to the national axis of the EU Modernisation Fund "Deployment of cleaner production technologies in industrial companies participating in the EU Emissions Trading Scheme".
