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Increasing energy efficiency in business

Support institution: Development Finance Institution (Altum)
Funding source: Recovery fund (AF)

Increasing Energy Efficiency in Business

Project submission:

Application deadline: for 8. round - till 07.10.2024 12:00

Objective:

Achievable indicators:

Energy efficiency improvement measures

  • The planned primary energy savings shall be at least 30%. After the implementation of the project, applicant must provide accurate data on amount of electricity and heat produced and consumed.

Implementation of renewable energy technologies

  • The produced energy is used for the business’s own consumption (at least 80% of the annual consumption).

Purchase of zero-emissions vehicles:

  • The purchased electric car must be driven at least 20,000 km per year. At least one year after the purchase of an electric car, no resale or exchange of the vehicle is carried out.

We offer:

To promote the investments in energy efficient businesses, development of renewable energy source (RES) technologies, and rational use of the energy resources, reducing the negative impact on the environment and climate change, as well as, promoting progress towards sustainable and environmentally friendly business growth.

Funding applicant:

Energy efficiency measures and implementation of renewable energy technologies:

  • Small, medium or large enterprises registered in Latvia.

Purchase of electric cars:

  • Small, medium or large enterprises registered in Latvia, that are operating within the manufacturing industry (Section C of NACE 2.0) and

    • whose export volume is >1 million EUR or

    • which themselves or a group of related parties export >51% of production.

Eligible actions:

Energy efficiency improvement measures, including:

  • construction costs of non-residential buildings’ and warehouses’ enclosing structures;

  • costs of refurbishment, conversion or creation of engineering systems, incl. establishment of a heating substation or the establishment of a connection to the centralized heating supply system;

  • costs of purchasing more energy-efficient production equipment, if existing production equipment is replaced;

  • recovery of secondary energy resources from production technological processes;

  • costs of installing energy efficient lighting;

  • costs of reconstruction of internal and external individual and local heating networks and refrigeration supply systems;

  • other measures if necessary to increase energy efficiency, incl. project design, author supervision, construction supervision, cleaning of the construction site.

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Implementation of renewable energy technologies, including.

  • purchase and installation of technologies for the production of electricity using solar or wind energy;

  • costs of installation or reconstruction of the system connection, which is necessary for the connection of the electricity generation equipment to the electricity grid.

  • introduction of heat pumps (air, water, land) and solid biomass technologies, incl. purchase and installation of equipment for the treatment of emissions of air pollutants;

  • purchase and installation of biogas technologies;

  • purchase and installation of other renewable energy technologies;

  • construction costs related to the installation of the equipment.

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Purchase of zero-emissions vehicles

  • purchase of new passenger electric cars (category M1 and N1, odometer reading <500km, runs on electricity only - hybrid cars are not supported).

Amount and intensity of support:

Available public funding for support: EUR 75.75 million (EUR 25.75 million for energy efficiency measures; EUR 45 million for the introduction of RES technologies; EUR 5 million for the purchase of electric cars).

Energy efficiency measures and implementation of renewable energy technologies:

Eligible costs (EUR): 5,000,000

Intensity of aid: 30%

Amount of aid (EUR): 1,500,000

Purchase of zero-emissions vehicles:

Eligible costs (EUR): 600,000

Intensity of aid: 30%

Amount of aid (EUR): 180,000, but not exceeding EUR 5,000 per electric car

Ineligible industries:

  • Manufacture of tobacco products;

  • Gambling and betting activities;

  • Fishing and aquaculture;

  • Primary agriculture;

  • Transport and storage;

Support procedure:

  • The aid is provided in the form of a loan.

  • The aid is provided as a capital discount – a total or partial reduction in the principal amount of a loan is applied after achieving the goals and indicators set in the project.

  • The Altum loan is at least equal to the amount of capital discount.

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