🇫🇮 Koppö Energia’s hydrogen project received €85 million in EU funding

The projects selected in this funding round will receive almost €1 billion in grants from the EU’s Innovation Fund, of which around €100 million will go to projects producing hydrogen or electric fuels for maritime transport. There are 8 projects in Spain, 3 in Norway, 2 in Germany and one each in Finland and the Netherlands.

Finland’s Koppö Energia Oy is receiving around €85 million for a 200 MW project in Kristiinankaupunki, which would produce hydrogen and synthetic methane.

“It’s great that a Finnish project is able to get funding in a tight race! The success of Spanish projects in particular shows how investing in renewable energy also brings further investment. It is important to hold on to Finland’s competitive advantage in clean energy together with the opportunities offered by bio-based carbon dioxide and to seek growth through the hydrogen economy,” says Environment and Climate Minister Sari Multala.

“Finland has all the prerequisites to be a pioneer in hydrogen technology in Europe. At the same time, it is important to understand that this is a time-consuming development, and even these projects will only be completed between 2028 and 2030. The development of hydrogen technology requires both perseverance and patience,” said Minister of Economic Affairs Wille Rydman.

At this stage, the Commission will not disclose the exact amount of aid per project. They will be specified when the approved projects sign a grant agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA).

These agreements will be signed at the latest in the autumn, before the start of the next round of applications for the Innovation Fund. Once the agreement is signed, the company must make an investment/construction decision within 2.5 years and implement the project within five years.

In this round, the Commission received 61 project applications from 11 countries. Before this round, the EU’s Innovation Fund has supported 195 projects since 2020. This round brings the total funding for projects to more than €13 billion.

In the previous round of the call for projects in October 2024, four Finnish projects were awarded grants totalling around €260 million. These Finnish projects will be implemented by Metsä Group’s Metsä Spring Oy, Solvay Oy, FREYR Battery Finland Oy and Nordic Ren-Gas Oy.

The EU’s Innovation Fund supports projects that reduce greenhouse gas emissions, promote the uptake of renewable energy, improve energy efficiency and enable emission reductions in energy-intensive industries. In particular, the Fund will support projects that can significantly reduce Europe’s carbon footprint while increasing economic growth and competitiveness in a sustainable way. Funding is based on revenues from the EU Emissions Trading Scheme (ETS).

Originally published on 22 May by BotH2nia.

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