“Given the global turmoil and an unpredictable energy market, it is more important than ever to take care of your business security. This call is not only an opportunity to become more sustainable, but also to achieve energy independence by installing renewable electricity generation facilities in our businesses. We want to encourage businesses to move towards a climate-neutral economy, to reduce their energy costs and to work more efficiently,” said Agnė Vaitkūnienė, Director of the Investment Management Department of the Innovation Agency.
According to Ms Vaitkūnienė, this measure was also relevant in the previous EU funding period, but this year its relevance is even greater in terms of interest shown. “We have received a huge interest from businesses as early as in the first days of the call. This shows that the situation is serious and that this instrument is particularly important and needed by businesses.”
The Industrial Solar Finance Facility is designed to encourage industrial companies in Central and Western Lithuania to move towards a climate-neutral economy. One company can apply for one project worth between €20,000 and €300, 000. A total of €10 million is available for projects and both small and large businesses can apply.
All companies applying for funding should keep in mind that they must have had an energy audit at least two years ago. Large enterprises must have carried out both a mandatory and a supplementary energy audit, if the appropriateness of such an audit has been identified during the mandatory audit.
The selection of projects shall be carried out through a competitive procedure, in a single stage. Companies that submit a project for funding can start the implementation of their project, which must be done at the latest within six months from the date of signing the contract, and completed within two years.
Applications by businesses must be submitted to the Innovation Agency by 28 February 2023. Detailed terms and conditions are available on the website of the Innovation Agency. For those interested in accessing funding under this measure, the Innovation Agency will organise a special online training on 8 December. Prior registration is required.
This progress-focused measure is part of the Economic Transformation and Competitiveness Development Programme 2022-2030, managed by the Ministry of the Economy and Innovation. The project activities are financed from the EU funds.
