Business Greening Loan or Guarantee with Capital Discount
From the weekly review: Current funding opportunities for businesses
GoalTo foster reduction of energy consumption and the green transition of businesses.
ALTUM offers loans and guarantees with a capital discount to companies for investments that reduce primary energy consumption.
- Who it is for
- Latvian enterprises (SMEs and large enterprises, depending on the region and round).
- Support amount
- 7 800 000 EUR (priority/general round) + 41 500 000 EUR (Just Transition Fund mechanism outside the Riga region) — in total approximately 49 300 000 EUR across the available mechanisms.
- Deadline
- OngoingPhased opening: Round 1 (Tukums, Limbaži, Saulkrasti, Ogre) since 24.08.2026, lasts 60 working days or until funding is exhausted; Round 2 (Riga/Pierīga and large enterprises) planned from 16.11.2026, if funding is still available; a separate continuous mechanism is available outside the Riga statistical region.
Who can apply
Applications are open to micro, small, and medium-sized enterprises (SMEs) in Latvian regions and specified municipalities, as well as SMEs in Riga/Pieriga and large enterprises during designated calls. The company must not be in financial difficulty and its tax debt must not exceed 150 EUR.
Maximum support
The ALTUM loan is up to 1 million EUR for energy efficiency or up to 10 million EUR for regional SME greening, with a capital discount of up to 300,000 EUR or up to 3 million EUR per group of linked enterprises.
Share of costs covered
The capital discount covers up to 30% of the loan principal, and a commercial bank loan can receive an ALTUM guarantee of up to 80%.
What can be paid for
- Energy efficiency renovation of non-residential buildings and energy management systems
- Energy efficiency improvements for existing machinery
- Purchase of more energy-efficient equipment or machinery replacing existing ones
- Upgrading or construction of commercial engineering networks
- Installation of renewable energy and storage technologies for self-consumption
- EV charging infrastructure and building digitalization
- Development and introduction of eco-friendly new products or technologies
What cannot be paid for
- Primary agricultural production, fisheries, and aquaculture
- Manufacture and trade of tobacco products
- Gambling and betting
- Nuclear energy generation
- Costs only aimed at achieving building energy performance class E
- Already completed projects or refinancing of already incurred costs
Key conditions
- Borrower own co-financing for ALTUM loans is at least 10% of eligible costs
- Must achieve at least 20% or 30% primary energy savings or emission reductions
- At least 80% of generated renewable energy must be used for self-consumption
- Loan or guarantee term is up to 20 years
- Projects must be completed by February 2029
- Application for the capital discount must be submitted by March 2029
How to apply
Submit your application through the portal mans.altum.lv. Before applying, obtain a certified expert assessment (energy certificate or audit), cost estimates, and necessary technical permits. The support decision is made within 6 months from submission.
What this is based on
Cabinet of Ministers Regulation No. 155 of 11 March 2025 'Support programme regulations for business greening, use of renewable energy resources and increasing energy efficiency'
Open the regulationThis summary is written in plain language from the programme rules. For the exact requirements, see the legal act.
Other programmes from this week
- EIC Accelerator (European Innovation Council funding for deep tech SMEs)
- Loan and guarantee with a capital rebate for improving industrial capacity (military and dual-use manufacturing)
- Guarantees for economic operators to improve competitiveness — expanded scope (small mid-caps and military projects)
Tell us about your plan
The first assessment is free. We usually reply within one working day.