Tax credits for large clean transition investments awarded to 37 companies
One of Prime Minister Petteri Orpo’s Government’s key industrial policy priorities is promoting solutions in industry and energy production that aim for climate neutrality. Large-scale investments are supported through a substantial program implemented by Business Finland comprising two parts: investment aid (grants) and tax credits. All funding decisions under the time‑limited support scheme have now been made.
Open data
Check out tax credit decisions in Business Finland's open data platform.
You can filter tax credit decisions by investment type, industry, and region, for example.
Continuation of tax credit is open
In its spring 2025 budget session, the Finnish Government outlined plans to continue supporting large-scale clean transition investments with tax credits. The timing of a possible new tax credit call period is not yet known at the beginning of 2026, as national legislation is required before the tax credit can be reopened for applications. The Ministry of Finance is responsible for preparing the legislation.
The rationale for the support scheme targeting investments in a climate‑neutral economy is the intensifying international competition for investments. The aim is to ensure that key industrial investments are carried out in Finland.
The objective of the investment support scheme is to promote and accelerate significant industrial investments that reduce industry’s dependence on fossil fuels, advance especially low‑carbon and energy‑efficient industrial production processes, and enable the transition towards a climate‑neutral economy.
“If realised, the investments accelerated by the tax incentive will have major significance for decarbonising the country’s energy economy. The support materially influences companies’ investment decisions related, for example, to the production of renewable energy and fuels and to the electrification of industry. Tax credits—widely used internationally—are an excellent tool for accelerating investments also in the future. We are aware of many investment intentions targeting Finland that we could advance with new government support programs. I therefore encourage advocacy at the EU level so that Finland can derive the greatest possible benefit from future aid frameworks,” says Business Finland’s Director General Lassi Noponen.
Tax credit awarded to 37 clean transition investments
The tax credit for large clean transition investments attracted substantial interest, with 54 applications submitted. Tax credits were granted to 37 investment projects.
“In total, tax credits amounting to EUR 2 billion were awarded. For renewable energy production and storage projects, tax credits were granted to 32 projects, totaling more than EUR 1.5 billion. The remaining tax credit support targets the production or recovery of battery materials. Companies can utilize the granted tax credit once the investment has been implemented and commissioned in accordance with the permit conditions issued by environmental and other authorities,” says Sini Uuttu, Project Director at Business Finland.
Companies can utilize the granted tax credit once the investment has been implemented and commissioned in accordance with the permit conditions issued by environmental and other authorities.
Tax credit / renewable energy production
Koppö Energia Oy, 116,5 M€
VolagHy Kuopio SPV, 150 M€
Suomen Lantakaasu Oy, 14,9 M€
SV Kapusta Oy, 63,2 M€
SV Vaaranlammet Oy, 57,2 M€
Norsk e-Fuel Rauma Oy, 150 M€
Neste Oyj, 18,25 M€
NordFuel Oy, 125,9 M€
Arctic Sisu Corporation Oy, 150 M€
Northern Green Fuels Oy, 109,9 M€
P2X Joensuu Oy, 6,25 M€
Blueberry Field H2X Oy, 150 M€
Freija Group Oy, 110,6 M€
V-S biojalostamo Oy, 52,17 M€
Tax credit / energy storage
Tuovilan Energiahanke Oy, 23,27 M€
Usva Developing Oy, 16,19 M€
Keminmaan Sähkövarasto Oy, 13,4 M€
Vuolijoen Sähkövarasto Oy, 18,38 M€
Kärppiön Sähkövarasto Oy, 13,6 M€
Korsholm Energy Park Oy, 15,8 M€
KSFR Kukonkylän Energy Storage Oy, 10,5 M€
Pyhäjoen Energiavarasto Oy, 13,8 M€
Lapinlahden Energiavarasto Oy, 13,8 M€
Kallion Aurinko Oy, 13,96 M€
Actavia Energy Oy, 17 M€
Novariana Energy Oy, 17 M€
Neon Storage Finland 3 Oy, 11 M€
Neon Storage Finland IV Oy, 39,9 M€
Kandalos Project 2 Oy, 13,35 M€
Kandalos Project 9 Oy, 13,4 M€
Tornion Energiavarasto Oy, 27,9 M€
Laakson Aurinko Oy, 19,1 M€
Tax credit / production of essential equipment, components and related raw materials
Arctial MidstreamCo Oy, 150 M€
AA Sakatti Mining Oy, 150 M€
Shanshan New Material Finland Oy, 30,9 M€
UP Catalyst Oy, 47 M€
Jervois Finland Oy, 31,8 M€
How the tax credit works
A company is entitled to the tax credit if it carries out in Finland a large investment aiming at a climate‑neutral economy, with eligible investment costs of at least EUR 50 million. Upon application, the right to the investment credit is granted to a company that implements in Finland an investment meeting the conditions laid down in law on the tax credit for certain large investments aimed at a climate‑neutral economy, namely investments in: energy production from renewable sources and energy storage; decarbonization of industrial production processes and energy‑efficiency measures; or sectors that are strategic for the transition to a climate‑neutral economy.
A company can start utilizing the tax credit after the investment has been completed, the plant is operational, and the profitable business it generates produces taxable income. The company may deduct the credit from corporate income tax payable starting from 2028 at the earliest.
Learn more about the tax credit
Investment aid awarded to six projects
Investment aid was awarded to six large clean transition industrial investments. Read the earlier press release on the investment aid decisions.
Further Information
Sini Uuttu
Program Director
Business Finland
sini.uuttu (at) businessfinland.fi