The information was translated using the ChatGPT service.
From August 25 of this year, entrepreneurs are invited to submit applications in the third project selection round of the European Union Recovery Fund program for energy efficiency, the introduction of renewable energy technologies, and the purchase of electric cars at the Development Finance Institution ALTUM. Applications can be submitted from 12:00 on August 25 to 11:59 on October 25, 2023.
The projects submitted by the companies will be compared in the selection, awarding the most points to projects that will provide the largest greenhouse gas emission reduction or primary energy reduction, calculated per every 1000 support euros. Projects that can apply for a loan with a capital discount will be announced within a month after the application deadline, while the loan application must be submitted within four months of the selection result announcement.
To inform entrepreneurs and all interested parties about the opportunities to obtain support for energy efficiency, the introduction of renewable energy resources, and the purchase of electric cars, the Ministry of Economics and ALTUM invite entrepreneurs to participate in a webinar on September 5 of this year. The event's agenda and application for participation in the webinar are available on the ALTUM website.
Support for entrepreneurs will be provided in the form of a loan or parallel loan, with a capital discount of up to 30% of the project costs, excluding VAT. The capital discount can be used to write off the main loan amount after the project implementation has been completed and the specified energy efficiency criteria have been met. It will be evaluated by ALTUM in cooperation with energy efficiency experts.
The loan amount can be up to 5 million euros, including a capital discount of up to 30%, which cannot exceed 1.5 million euros. For parallel loans, which ALTUM will provide in addition to bank loans, the minimum loan amount will be 50,000 euros. Support for the purchase of electric cars will be available to exporting manufacturing companies as a guarantee with a capital discount of up to 5000 euros for one M1 class vehicle (passenger car), up to 10,000 euros for one N1 class vehicle (light commercial vehicle), not exceeding 30% of the car purchase price excluding VAT and the available de minimis limit. Additional information on the electric car purchase guarantee with a capital discount is available on the ALTUM website.
In each selection round, applications will be ranked in descending order based on the total points received within the available funding framework. Multiple applications can be submitted in one selection round, including in one support area (e.g., energy efficiency) or in multiple support areas (e.g., energy efficiency and renewable energy technology), noting that applications in each support area must be submitted separately.
Detailed information on the program's terms, evaluation criteria, and capital discount acquisition process is available on the ALTUM website.
Līga Mellēna, Head of the ALTUM Company Energy Efficiency Division: "When preparing to submit a project, I encourage entrepreneurs to make sure that the company's sector and buildings comply with the program's terms and to set realistically achievable project results, as it will not be possible to reduce them during the project implementation. It's better to choose a more conservative goal than one that cannot be achieved. If in doubt, I urge you to consult again with your energy auditor or solar power plant installer. For any unclear questions during project preparation, consult by phone or email with ALTUM Company Energy Efficiency Division experts. And finally - do not postpone the preparation and submission of the application until the last day."
The total funding of the European Union Recovery Fund program is 76 million euros, of which almost 26 million euros are allocated for improving energy efficiency, 45 million for the transition to renewable energy technologies, and 5 million euros can be used for electric car purchase support. The total achievable result of the program is a saving of 11,498 tons of CO2 equivalent per year. Considering the surplus funding in the first and second program rounds, the Ministry of Economics plans an additional, fourth, project selection round, preparing amendments to the regulations set by the Cabinet of Ministers.
