More than EUR 10 m allocated to renewable energy projects

Minister of Economics and Innovation Rimantas Sinkevičius has signed an order allocating EUR 10.38 m to 78 industrial companies from EU investment project Renewable Energy for Industry LT+. This project is a part of Future Economy DNA plan.

Project Renewable Energy for Industry LT+ received a lot of interest from small and large industrial companies – the financing need of companies eligible for funding according to the assessment well exceeded the budget foreseen. Therefore, we decided to encourage reduction of energy intensity in industrial companies with additional financing from Future Economy DNA Plan. We hope it will help to improve competitiveness of industrial companies, which is of utmost importance in the face of COVID-19 pandemics“, – claims minister of economy and innovation Rimantas Sinkevičius.

The funding originally envisaged was EUR 1.65 m for very small, small and medium-sized companies and EUR 1,65 m for large companies. For the call for very small, small and medium-sized companies applications by 70 companies were approved and will get funding in the amount of EUR 8,29 m. For the call for large companies, 14 applications were approved, 6 of those are to be financed from the originally planned amount of EUR 1.64 m, and remaining 8 projects are to be funded with additional EUR 2,09 m. In case of both calls the missing amount of EUR 8,72 m will come from Future Economy DNA Plan.

Solar power plants, biofuel plants, heat pumps and heat exchangers and biogas plants are to be financed under the project.

Industrial companies will be able to use energy for their own purposes and, if there is a possibility, to supply it for other companies or centralized networks.

Only companies working for no less than 3 years could apply.

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