Government growth and employment package provides funding for hydrogen projects
EUR 160 million has been allocated from the government's growth and employment package to new projects. New investment subsidies will be targeted at supporting new energy technology demonstration projects, IPCEI (Important Project of Common European Interest) projects, and investments by SMEs.
“The government is strongly committed to growth and promoting investment. Without growth, companies will not invest or hire new employees. The government is doing everything in its power to promote growth. There has been a lot of positive news about investments throughout Finland over the past year, and this outlook needs to be reinforced. That is why this growth package and the allocation of at least €160 million to growth and investment are so important. At the same time, the €30 million allocated to youth employment vouchers will enable young people who have been unemployed for a long time to find work and gain work experience," says Minister of Labor Matias Marttinen.
"IPCEI projects are used to develop new technologies that are strategically important for the whole of Europe. Participation in these projects supports the renewal of the economic structure and offers companies the opportunity to link up with European value chains," says Minister of Economic Affairs Sakari Puisto.
"The vitality center grant enables the support of significant investments by SMEs throughout the country to boost growth and employment. The funding would be used as grants for investment projects that support the growth and exports of SMEs, particularly the introduction of new, cleaner technologies. The focus is particularly on investments in the development and adoption of material and energy efficiency, as well as the adoption of innovations related to battery technology and the circular economy in various industrial sectors," continues Minister of Economic Affairs Puisto.
"Of this package, investments launched with the help of support for large energy technology demonstration projects would amount to approximately EUR 300–750 million, depending on the final amount of support and the projects to be supported. Support can be flexibly targeted at projects with significant future energy production and export potential. These include, for example, various hydrogen and electric fuels and other renewable fuels for transport (including biogas), energy storage technologies, and energy efficiency technologies," estimates Minister of the Environment and Climate Sari Multala.
