The results of the call for projects were disclosed by the Minister of the Economy, Franz Fayot, and the Minister of Energy, Claude Turmes, during a press conference on 6 June 2023. This investment aid scheme forms part of the package of measures (Solidaritéitspak 2.0) agreed upon during the September 2022 tripartite meeting to support the competitiveness of Luxembourg companies and household purchasing power following inflationary shocks caused by the Russia-Ukraine war.
The aid scheme was specifically designed to encourage the construction and operation of solar energy power plants and to promote the self-consumption of photovoltaic electricity. It was dubbed a “success” following the high number of companies that applied for funding.
We are encouraging more and more companies, industrial, craft or service sector, to invest in their energy autonomy and in renewable energies.
€16.1 million in financial aid
Out of 106 projects submitted, 85 projects from 75 companies of different sizes and sectors qualified for investment aid. The shortlisted projects amount to €44.4 million in investments by the companies. The projects will receive a total of approximately €16 million in financial aid. In the next 18 months, these companies will implement the photovoltaic power plant projects with at least partial self-consumption of the electricity produced. The combined capacity of these plants will be over 46-megawatt peak (MWp).
“The interest of all types of companies for this measure which helps them to produce, in whole or in part, their own energy shows that we have managed to lay the groundwork for a more sustainable economy. With such measures we are directing investments towards renewable energies, and we are encouraging more and more companies, industrial, craft or service sector, to invest in their energy autonomy and in renewable energies,” said the Minister of the Economy, Franz Fayot.
The companies present on our territory have demonstrated that they are ready to play an active role in the local energy transition.
Following the success of this initial call for projects, a second call has been announced. It will open in July and run through October 2023. As the national innovation agency, Luxinnovation guides companies during their applications for national and European funding. Some of the companies that responded to the call for projects received support from Luxinnovation.
“The result of this call for projects is a success for the Luxembourg economy and for the climate: the companies present on our territory have demonstrated that they are ready to play an active role in the local energy transition. Solar energy is a source of clean energy, which helps the Grand Duchy to achieve its development objectives for renewable energies, and which is one of the solutions to break out of energy dependence on Russian fossils. The trend towards self-consumption has begun: in 2022, 793 installations of the 1053 new installations in Luxembourg consume their own electricity,” Minister Turmes added.
Photo credit: MECO