Government announces new funding to help businesses move away from fossil fuels
On 16 June Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD, Minister of State at the Department of Justice and Equality with responsibility for Law Reform, James Browne TD and Minister of State for Land Use and Biodiversity, Senator Pippa Hackett today announced a new €55 million ‘Green Transition’ fund to help businesses move away from fossil fuels and towards more sustainable, cheaper alternatives. The Green Transition Fund is part of Ireland’s National Recovery and Resilience Plan (NRRP), which is funded by the European Union.
The Green Transition Fund comprises:
The Climate Planning Fund for Business, which will give businesses funding to come up with a personalised plan to identify how best to remove reliance on fossil fuels in their business. A €1,800 grant to develop a plan and up to €50,000 matched funding to go towards specific capacity building within an enterprise are among the grants available.
The Enterprise Emissions Reduction Investment Fund, which will give manufacturing businesses funding to invest in carbon neutral heating processes, smart metering and energy monitoring, and research and development. Up to €1 million is available for businesses to upgrade their processes.
The programmes will run over the next five years. The National Recovery and Resilience Plan (NRRP) was developed by the Government to direct funding under the EU’s Recovery and Resilience Facility. Ireland is expected to receive more than €900 million in grants over the lifetime of the Facility.
Interested companies can apply: www.enterprise-ireland.com/greentransitionfund