The Next Generation EU (NGEU) funding package provided funding for the Sustainable Growth Programme for Finland. The initiative is specifically a component of Finland's Recovery and Resilience Plan (RRF), the NGEU's principal tool.
The initiative promotes investments and changes for Finland's ecological, social, and economic sustainability. The program for sustainable growth aims to:
- Reduce emissions of greenhouse gases;
increase in productivity;
- Boost the rate of employment;
- Quicken the process for getting care;
- Improve gender, socioeconomic, and regional equity.
As a result, the program encourages the green transition in a welfare-oriented society that develops a digital economy that is open to all and enhances health and social services.
As a result, the program encourages the green transition in a welfare-oriented society that develops a digital economy that is open to all and enhances health and social services.
The first application period for the Sustainable Growth Programme's energy investment subsidies runs from 20 December 2021 to 4 March 2022. The application round is only open to energy projects with investment expenditures exceeding EUR 5 million. Projects using novel energy technology, hydrogen, and carbon capture are eligible.
86 applications were submitted by March 2022, out of the EUR 520 million in funds that has been set aside for this investment round. A total of EUR 1.65 billion in relief was requested. Projects can be found all around Finland.