Lithuania Champions Energy Efficiency With Groundbreaking Investment

(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 2. The Ministry of Economy and Innovation of Lithuania has allocated 18.95 million euros to support the country's industrial enterprises in improving energy efficiency and reducing carbon dioxide emissions by financing 27 projects, Trend reports.

“To remain competitive, Lithuania's industrial companies must modernize, reduce pollution, and adapt to climate-related requirements. This funding will help them reduce CO2 emissions by at least 30 percent, enhance sustainability, and create conditions for innovation. It also enables investment in the latest green technologies and optimization of production processes,” said Minister of the Economy and Innovation Lukas Savickas.

The highest number of projects, eight, will be implemented in Vilnius County, receiving 4.7 million euros in total funding. Five projects each will be carried out in Šiauliai (3.42 million euros) and Klaipėda (3.18 million euros) counties.

Kaunas County companies will implement four projects with 3.76 million euros in funding, while Panevėžys (2.14 million euros) and Alytus (1.62 million euros) counties will each carry out two projects. One project, valued at 121,460 euros, will be implemented in Utena County.

By company size, 13 of the funded projects will be led by medium-sized businesses, 10 by small enterprises, and 4 by large companies. The largest single company grant awarded was 1.5 million euros.

In terms of focus, 14 companies will use the funding to optimize production processes, 7 to improve technological operations, and 6 to implement combined measures aimed at lowering carbon emissions.

Meanwhile, two companies plan to cut CO2 emissions from their production processes by 100 percent.

The program“Energy Efficiency for Industry” is funded through the European Union's European Regional Development and Cohesion Funds.

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