The European Union offers new opportunities for innovative companies seeking to invest in future green energy technologies. One of the key support mechanisms is the Innovation Fund. There are two large-scale innovation funds available that provide financial support to companies and projects planning to invest in green energy solutions and the development of electric vehicles.
What is the Innovation Fund?
The Innovation Fund is one of the largest funding sources for innovative and climate technology projects in the European Union, aimed at supporting low-emission technologies and advancing Europe’s transition to climate neutrality. The fund, with a total available budget of approximately €38 billion from 2020 to 2030, supports projects spanning a wide range of areas — from industrial process decarbonization and renewable energy technologies to carbon capture and storage (CCS) solutions and energy efficiency improvements. Funding is available for both small and large-scale projects, offering flexible conditions and extensive opportunities for businesses and organizations across various sectors. In addition to direct co-financing, the fund also offers support through technical assistance to facilitate project implementation and accelerate the transition to a green economy. Calls for Innovation Fund applications present an excellent opportunity for companies to promote sustainable development while making a significant contribution to Europe’s future prosperity.
What support can KPMG provide for EU fund financing?
KPMG in Latvia offers professional support to companies wishing to apply for Innovation Fund financing. Our experts have extensive experience working with various EU funding programs, such as the Innovation Fund, Horizon Europe, LIFE, and the Connecting Europe Facility (CEF). We assist in developing project concepts, preparing high-quality funding applications, and ensuring effective consortium formation.
"KPMG expert team in Latvia has experience in preparing large-scale project applications, developing EU funding regulations, and managing project risks for funding up to €1 billion. Our team closely collaborates with international experts from other KPMG firms and actively monitors EU investment priorities to ensure our clients are well-positioned according to the latest funding opportunities," says Elīza Bērziņa, Senior Project Manager for Risk and Compliance Advisory Services at KPMG in Latvia.
To learn more about how your company can apply for EU fund financing and successfully implement innovation projects, we invite you to contact our expert team:
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