BAKU, Azerbaijan, July 16. Lithuania's Ministry of Economy and Innovation has announced the allocation of 42 million euros to industrial companies to gain access to financing and immediately launch projects aimed at transitioning to a climate-neutral economy and upgrading their equipment, Trend reports.
“These funds will help industrial companies implement technologies that contribute to decarbonization and improve energy efficiency. This not only supports emissions reduction efforts but also allows companies to modernize technologically, remain competitive, and become more resilient to energy price fluctuations,” said Minister of the Economy and Innovation Lukas Savickas.
The investment is expected to save approximately 2,607 GWh of energy and reduce greenhouse gas (GHG) emissions by around 489,000 tons in Lithuania by 2035, an average annual reduction of 48,000 tons.
The industrial sector consumes roughly 4.2 TWh of electricity annually, which amounts to about 443 million euros, depending on energy prices.
Through this public funding initiative, companies could save up to 261 GWh of electricity per year.
The call targets Lithuania’s manufacturing sector, aiming to continue the shift toward a cleaner, more sustainable industrial base. The maximum possible subsidy for a single applicant is 10 million euros. The funding intensity is capped at 30 percent of eligible costs for large enterprises and can be increased by 10 percent for medium-sized companies and an additional 10 percent for small enterprises.
Applications must be submitted through the Environmental Project Management Agency’s (APVA) information system (APVIS) by October 7, 2025.
These investments support the goals of the Paris Agreement on climate change and the EU Green Deal, which seeks to reduce GHG emissions by 55 percent by 2030.