1 billion for Lithuanian economy: €40 million to improve energy efficiency in industry
The Ministry of the Economy and Innovation is boosting investment in Lithuanian industry with a further €40 million call to reduce pollution. This will allow companies to introduce energy efficient technologies to reduce harmful carbon dioxide emissions by 30% or more. This is the second call under the facility, which is part of a €1 billion plan to create more opportunities for the Lithuanian economy.
"In the fight against climate change, the European Union is already increasing environmental requirements for industry to reduce pollution and harmful emissions. As these EU requirements for companies to reduce pollution will only get tougher, we see the need and importance to announce a call for funding later this year, which was planned for 2024, so that Lithuanian industry can invest in its future and modernise now," said Minister of the Economy and Innovation Aušrinė Armonaitė.
Applicants under this call are industrial companies. The maximum amount of funding available per project is EUR 1.2 million.
"These funds will promote energy efficiency in Lithuanian industrial enterprises and enable investments in the acquisition of innovative and environmentally friendly production equipment of various types, which will reduce pollution and harmful gas emissions. We will also encourage the introduction of innovative and sustainable technological solutions in production processes and the modernisation of existing infrastructure," said Iveta Paludnevičiūtė, Chancellor of the Ministry of the Economy and Innovation.
Up to €17 million will be allocated to micro, small and medium-sized enterprises (MSMEs) in the Central and Western Lithuania region and up to €8 million to large enterprises. In the capital region, up to €7.5 million is available for both SMEs and large enterprises.
Project implementation plans can be submitted to the Public Innovation Agency until 16 April 2024.
The full terms and conditions of the call are available on the European Union Investment website.
In order to strengthen the Lithuanian economy, the Ministry of Economy and Innovation will announce calls for funded activities until the end of 2023 with a total value of almost €1 billion. Around €365 million is earmarked for business, innovation and investment, €320 million for digitalisation of the state and business and €268 million for a greener economy.
The measure "Encouraging businesses to move towards a climate-neutral economy" will be implemented through the Investment Programme for European Union Funds for the period 2021-2027.