For investments in new technologies and renewable energy from 2016 to 2018, Finland allocated a total of EUR 100 million.
By 2019, the investment aid will no longer be accessible for new projects, although the contracts still call for the funding of projects that have already been accepted into the program.
With the help of this specific financial aid, Finland will be able to meet its own national goals as well as the goals set by the EU for 2030 with regard to energy solutions.
For the following kinds of projects, an organization, municipality, or other company may submit an application for investment aid for an investment with an eligible cost exceeding EUR 5 million:
The creation of advanced biofuels for transportation, the commercialization of other innovative energy technologies, or the promotion of heat or power generation or the cogeneration of both with renewable energy.
Up to 40% of the project's expenses (in the form of investments in assets) may be covered by investment aid.
The Ministry of Economic Affairs and Employment evaluates project proposals on a variety of criteria, including their effects on energy, cost-efficiency and profitability, innovation of the technology used, ability to be replicated, and other effects.