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An overview by Borenius, Taxand Finland
Finland has recently proposed a new investment credit (HE 207/2024) to incentivise large industrial projects advancing climate neutrality. Targeted at investments over €50 million, the credit covers up to 20% of costs (capped at €150 million). Eligible projects include renewable hydrogen production, energy storage, industrial decarbonisation, and green technology manufacturing, though wind power is excluded.
Applications, managed by Business Finland, must be submitted by the end of 2025, with approved projects operational within 36 months. The credit, deductible from 2028, aligns with EU State aid rules. Early preparation is vital to meet strict criteria and ensure timely approval.
Einari Karhu, Casper Herler and Miika Pinomaa from our Finnish member firm Borenius have published a more detailed update on these new credits here.
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