The development finance institution ALTUM is expanding its business greening programme, opening applications from 24 August this year for state support for energy efficiency with a capital discount for small and medium-sized enterprises in the municipalities of Tukums, Limbaži, Saulkrasti and Ogre. Applications from this target group will have priority for the first 60 working days.
After these 60 working days, from 16 November this year, the remaining funding will be open to SMEs operating in Riga and the Riga region, as well as to large enterprises throughout Latvia. In total, an additional 7.8 million euro from European Regional Development Fund resources is available for the programme’s expansion. The programme’s territorial expansion provides wider access to support and offers funding for projects that significantly reduce energy consumption and operating costs.
Līga Mellēna, Head of Corporate Energy Efficiency at ALTUM:
“The programme’s terms are designed so that businesses can carry out both building and equipment modernisation projects, achieving a significant energy saving of at least 30%. We encourage businesses to prepare in good time by carrying out an energy audit of the buildings, equipment or processes they plan to apply for support with.”
Interested parties are invited to take part in informational seminars organised by ALTUM, where they can learn more about the programme’s opportunities and terms, as well as put questions to ALTUM’s experts. The seminars will take place:
- In Ogre – 4 August at 10.00, at Ogre Central Library, Brīvības iela 35;
- In Tukums – 5 August at 10.00, at the Tukums municipal offices, Talsu iela 4;
- In Saulkrasti – 6 August at 10.00, at the Saulkrasti municipal offices, Raņa iela 8;
- In Limbaži – 6 August at 14.00, at the Limbaži municipal library, Parka iela 23.
For implementing energy efficiency projects, businesses will be able to access an ALTUM loan covering eligible costs of up to 1 million euro, or an ALTUM guarantee covering up to 80% of the eligible costs of a commercial bank loan, as well as a capital discount of up to 30% of the ALTUM loan or of a bank loan backed by an ALTUM guarantee. The total capital discount under the programme can reach up to 300,000 euro per group of related companies.
Support can be applied for on projects that achieve a primary energy saving of at least 30%. Funding is intended for improving the energy efficiency of non-residential buildings, introducing energy management systems, modernising existing equipment, purchasing more energy-efficient equipment and machinery, introducing renewable energy technologies, and renewing, rebuilding or constructing engineering systems on commercial premises where this contributes to energy efficiency. Funding will also be available to ESCO service providers, provided they achieve a primary energy saving of at least 30% at each ESCO facility.
As before, funding from the Just Transition Fund remains available for greening projects by small and medium-sized enterprises across the rest of Latvia.
The business greening programme for small and medium-sized enterprises in the regions, worth a total of 41.5 million euro, was launched in March this year to encourage business investment in sustainable solutions, the use of renewable energy resources and improved energy efficiency. The programme continues to accept applications, and from 16 July a 0% greening-loan rate (with no EURIBOR applied) is also available, until 1 January 2029, for projects to be implemented in the Eastern border region.
Further information on the ALTUM greening programme is available on the website: https://www.altum.lv/pakalpojumi/biznesam/uznemejdarbibas-zalinasanas-aizdevums-vai-garantija-ar-kapitala-atlaidi/
About ALTUM
AS Attīstības finanšu instituācija Altum is a Latvian state-owned capital company that, through support instruments such as loans, guarantees and investments in venture capital funds, provides businesses and households with access to financial resources in areas the state has designated for support, thereby promoting the development of the national economy and helping to mobilise private capital and financial resources.