Slovakia launches a 150 million euro industrial decarbonisation programme

Slovakian Minister of Environment, Tomáš Taraba, has announced a second 150 million euro funding round to help decarbonise industry. The programme aims to help companies improve their energy efficiency. It will also decrease greenhouse gas emissions and reduce costs for emission allowances. The programme is funded by the European Union.

The call is open to industrial companies covered by the EU Emissions Trading System, which accounts for about 90 per cent of all industrial emissions. There is no minimum or maximum grant amount per application. Projects will be selected based on the lowest cost per ton of emissions reduced and the total emissions saved.

Each project must reduce emissions by at least 10 thousand tonnes of CO2 equivalent. This is based on the average of the last five verified annual emissions reports and one unusual year can be excluded. Eligible costs include only investment expenses directly related to project implementation and incurred after the application is submitted.

“The entire call is designed so that those who guarantee the greatest emission reductions for the least amount of financial support will have the best chance of receiving funding,” explained Minister Taraba.