The Norwegian government has committed NOK 248 million (€21 million) in grant funding to help companies advancing renewable energy projects in developing countries. The initiative focuses on reducing risk during early project phases to support sustainable energy solutions.
“This scheme is popular because it is effective,” said Minister of International Development, Anne Beathe Kristiansen Tvinnereim.
The enterprise development scheme will fund 27 new projects, ranging from battery storage expansion to wind farm development. These grants will cover costs such as feasibility studies and project setup. Ten of the selected projects are Norwegian, with four involving Norwegian partners or shareholders.
“We are providing funding assistance at a critical, often decisive project phase that can determine whether the projects will be able to proceed,” Tvinnereim added. “Developing countries have an enormous need for energy to continue their development processes, but this energy must be green to be sustainable for our planet.”
