The information was translated using the ChatGPT service.
On May 16th this year, during the Cabinet of Ministers meeting, amendments were approved to the Recovery Fund support program, within which companies will again have access to funding for improving energy efficiency, wider use of renewable energy resources (RES) technologies, as well as the acquisition of zero-emission (electric) vehicles. "The issue of increasing energy efficiency in business remains relevant. Today's technologies offer a myriad of opportunities to be more efficient, productive, and competitive while reducing energy costs. Undeniably, improvements in energy efficiency require investments, but it's a step towards business autonomy in energy production and rational use, an investment in the company's sustainability, while also strengthening our Latvian energy independence," emphasized Minister of Economics Ilze Indriksone.
In the coming weeks, ALTUM will start accepting company applications for participation in the second round of the support program, with total funding of 31.58 million EUR, including: • For company energy efficiency - 12.46 million EUR; • For solar panels and other RES technologies for self-consumption - 15.85 million EUR; • For electric vehicle purchases specifically for exporting manufacturing industry merchants - 3.26 million EUR. The selection will be organized over two months (notification of the start of the selection round will be published on the ALTUM website www.altum.lv soon).
Submitted company projects will be compared in open competitions, where projects ensuring the largest greenhouse gas emission reduction or primary energy reduction, based on a support of 1000 EUR, will receive the most points.
Support for businesses will be provided in the form of a loan or parallel loan to improve energy efficiency in non-residential buildings and production processes or to implement RES projects for self-consumption. ALTUM loan or parallel loan is available with a 30% capital discount for principal repayment, meaning ALTUM will reduce the loan amount by 30%, but not more than 1.5 million EUR, if the planned project achieves its set goals.
Additionally, within the support program, support will be available for exporting manufacturing industry businesses for the purchase of electric vehicles, i.e., the purchase of new M1 category electric vehicles (in addition to the driver's seat, there are no more than eight seats and no standing passenger space). With the amendments approved today, support will also be available for the purchase of N1 category electric vehicles (mainly designed and built for cargo transport (maximum weight does not exceed 3.5 tons)). Support for purchasing electric vehicles will be available as a leasing guarantee with a capital discount up to 180,000 EUR (for one M1 category vehicle up to 5,000 EUR, and for N1 category up to 10,000 EUR, not exceeding 30% of the total leasing obligations excluding VAT).
To inform businesses and all stakeholders about opportunities to obtain support for energy efficiency, the introduction of renewable energy resources, and the purchase of electric vehicles, the Ministry of Economics and ALTUM invite entrepreneurs to participate in a webinar on May 23rd this year. Experts will also provide information on the procedure for installing solar panels and what to consider when preparing an energy audit assessment. The event's agenda and registration for the webinar are available on the ALTUM website.
As is known, the support program "Improving energy efficiency in business (including the transition to the use of renewable energy technology in heating)" aims to provide support for improving the energy efficiency of company buildings, the wider use of renewable energy resources (RES) technologies, and the acquisition of zero-emission (electric) vehicles.
The total funding of the Recovery Fund program is 76 million EUR, of which nearly 26 million EUR is allocated for improving energy efficiency, 45 million EUR for the transition to renewable energy technologies, and 5 million EUR for support in purchasing electric vehicles.
In total, projects are planned to be accepted in three selection rounds. During the first selection round of the support program, which lasted until January 4th this year, ALTUM received applications from 138 companies, and out of them, 118 have been supported and invited to apply for a program loan with a capital discount."
(Note: The translation aims to retain the content, context, and nuance of the original text, but there may be minor stylistic adjustments in the English version for clarity and flow.)