ALTUM is expanding its Business Greening Programme, opening applications from 24 August this year for state aid for energy efficiency investments with a capital rebate for small and medium-sized enterprises (SMEs) in the municipalities of Tukums, Limbaži, Saulkrasti, and Ogre. Applications from this target group will be given priority during the first 60 working days.

After the initial 60-working-day period, starting from 16 November this year, SMEs operating in Riga and the surrounding Riga region, as well as large enterprises throughout Latvia, will be able to apply for the remaining funding. An additional EUR 7.8 million from the European Regional Development Fund has been allocated to the programme’s expansion. The programme’s geographical expansion will make support more widely available and provide funding for projects that significantly reduce energy consumption and operating costs.

Līga Mellēna, Head of Business Energy Efficiency at ALTUM, says:

“The programme has been designed to enable businesses to implement modernisation projects covering both buildings and equipment while achieving significant energy savings of at least 30%. We encourage companies to start preparing in good time by carrying out an energy audit of the buildings, equipment, or processes they intend to submit for support.”

Interested companies are invited to participate in information seminars organised by ALTUM, where they will be able to learn more about the programme’s opportunities and conditions and ask questions directly to ALTUM experts. The seminars will take place:

• Ogre – 4 August at 10:00, Ogre Central Library, Brīvības iela 35;
• Tukums – 5 August at 10:00, Tukums Municipality premises, Talsu iela 4;
• Saulkrasti – 6 August at 10:00, Saulkrasti Municipality premises, Raiņa iela 8;
• Limbaži – 6 August at 14:00, Limbaži Municipality Library, Parka iela 23.

To implement energy efficiency projects, companies will have access to an ALTUM loan of up to EUR 1 million to cover eligible costs or an ALTUM guarantee covering up to 80% of the eligible costs financed by a commercial bank loan. A capital rebate of up to 30% of an ALTUM loan or a bank loan backed by an ALTUM guarantee will also be available. The total capital rebate available under the programme may reach up to EUR 300,000 per group of linked enterprises.

Projects eligible for support must achieve primary energy savings of at least 30%. Funding is available for improving the energy efficiency of non-residential buildings, introducing energy management systems, modernising existing equipment, purchasing more energy-efficient equipment and machinery, deploying renewable energy technologies, and renovating, reconstructing, or constructing engineering systems in commercial areas where this contributes to improved energy efficiency. Funding will also be available to energy service company (ESCO) providers, provided that primary energy savings of at least 30% are achieved at each ESCO project site.

As before, funding from the Just Transition Fund remains available for greening projects implemented by SMEs throughout the rest of Latvia.

The Business Greening Programme for SMEs in the regions, with a total funding allocation of EUR 41.5 million, was launched in March this year to encourage business investment in sustainable solutions, the use of renewable energy sources, and improved energy efficiency. Applications under the programme remain open. In addition, from 16 July, greening loans for projects implemented in Latvia’s eastern border regions are available at a 0% interest rate, with no EURIBOR applied, until 1 January 2029.