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    Finland: Six clean energy projects receive EUR 99.8mn in investment aid


    October 6, 2022 - M-Brain Nordic News

     

      In Finland, the Ministry of Economic Affairs and Employment has made the first energy investment aid decisions under Finland's Recovery and Resilience Plan to promote clean energy solutions. A total of EUR 99.8mn was granted to six projects. Municipally owned energy company Vantaa Energy (Vantaan Energia) was granted EUR 30.22mn and Finnish energy group St1 EUR 35.4mn for production plant investments. Vantaa Energy will produce renewable methane and St1 renewable methanol. Ilmatar Energy received EUR 19.56mn and Exilion Tuulihankkeet EUR 8.9mn for investments in solar electricity. In the projects, solar power is integrated with wind power production and electricity storage. Fiskars Finland was granted EUR 2.87mn and Mäkelä Alu Oy EUR 2.85mn for investments in electrification of industry. The projects will help to reduce the use of natural gas and liquefied petroleum gas.

      The projects will be funded from the EU's Recovery and Resilience Facility (RRF). The investments must be completed by 30 June 2026.

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