“The updated plan foresees more than EUR 1.8 billion of additional investments, including an additional EUR 1 billion for business loans, green, innovative, digital technologies and the production and export of high value-added products,” says the press release.
According to the ministry, it is proposed to adjust the NKL plan taking into account “the geopolitical situation, Lithuania’s new ambitions in the field of renewable energies, intensive discussions with social and economic partners, proposals of the Presidency and the new REPower EU 198.4 million grant from the European Commission, an initiative worth euros”.
The largest amount of funds is 1 billion. 700 billion euros will be allocated to loans to commercial and industrial companies and to the production of electricity from renewable resources. euros.
“We almost double in 2021. 2.225 billion prepared EUR plan investments up to 4 billion euros”, – Finance Minister Gintarė Skaistė is quoted in the report.
According to her, new measures will help to strengthen the competitiveness and energy independence of Lithuanian companies.
It is expected that after the implementation of NKL’s investments in 2023-2027 Lithuania’s Gross Domestic Product (GDP) would increase by an average of 0.97%. i.e. 492.5 million euros per year, and in 2023-2040 nearly 8 billion additional GDP will be created in EUR.
“It is estimated that each euro invested will bring in 2.25 euros of real GDP”, specifies the ministry.
1 billion businesses of all sizes will be able to receive funding from the Euro Loan Facility, which will use their investments to implement EU green objectives, increase energy efficiency, implement environmentally friendly technologies environment and create products with a low carbon footprint. Companies in the defense and security sector will also be able to benefit from investment loans for product development and innovation. The projects would be funded by INVEGA, in collaboration with the private sector.
700 million with Euro investments in the development of renewable energy, the ministry aims to accelerate the implementation of the target by 2030. to meet all of Lithuania’s electricity demand with local production . Funding for the measure will be directed to businesses, renewable energy communities, and state and municipal institutions.
About 90% of these funds will be allocated to solar power plants, and it will also be possible to invest in the production of onshore wind energy and, if necessary, to purchase an energy storage device.
Lithuania has already received more than 0.5 billion from the Recovery and Resilience Facility (RRF), which funds NKL Plan projects. euros.
Source: The Delfi