The EIC is supporting companies in setting up thermal and electric energy storage facilities

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EIC is opening an application round from today, 30 December, to support companies in the design and construction of renewable energy storage facilities. The budget for the round is EUR 7.8 million, and the deadline for submitting applications is 3 March 2023.

According to Aire Arike-Trutin, Head of the Energy and Mobility Area at the EIC, stored energy produced from renewable energy sources is needed to reduce the use of fossil energy during peak hours. ‘With the deployment of renewable energy storage, we can reduce CO2 emissions and contribute to meeting climate targets,’ Arike-Trutin added.

The grant is provided for the design and construction of an energy storage installation for heat or electricity produced from renewable energy sources and for related activities; the installed equipment must be used for at least five years after the final payment. The grant can be applied for by a company registered in Estonia that owns a renewable energy production unit and is not prohibited by law from owning or operating an energy storage device.

The maximum grant amount per megawatt of electric energy storage capacity is EUR 360,000 excl. VAT, and EUR 220,000 excl. VAT for thermal energy storage capacity per 1,000 cubic metres. The maximum grant amount per application is EUR 1 million.

Grants are awarded in Estonian and more information can be found on the EIC website here. The information briefing for the application round took place on 19 December and can be viewed here. On 28 December, the EIC also opened an application round to support the connection of renewable electricity generation installations to the distribution or transmission grid.

Application takes place via the e-support environment until 17:00 on 3 March 2023. The grant funds originate from the Recovery and Resilience Facility, and the grant was developed by the Ministry of Economic Affairs and Communications.