Business greening loan or guarantee with a capital discount

Who can apply

Applications are open to Latvian-registered micro, small, medium (SMEs), and large enterprises depending on the region and round. The applicant must have no tax arrears over 150 EUR and cannot be in insolvency or financial distress. Businesses operating in primary agriculture, fisheries, tobacco, or gambling are excluded.

Maximum support

The maximum loan is up to 1 million EUR for energy efficiency or up to 10 million EUR for regional SMEs, with a capital discount of up to 300,000 EUR or up to 3 million EUR per group of related enterprises.

Share of costs covered

The capital discount covers up to 30% of the loan principal, and guarantees cover up to 80% of a commercial bank loan. The beneficiary must provide at least 10% own co-financing for eligible costs.

What can be paid for

• Building envelope and engineering systems energy efficiency improvements in non-residential buildings
• Installation or renewal of energy-efficient lighting, heating, and cooling networks
• Purchase of energy-efficient equipment or machinery replacing existing units
• Recovery of secondary energy resources and waste heat
• Renewable electricity and heat production equipment installed for self-consumption
• Energy storage and accumulation equipment directly connected to renewable installations
• Building digitalization equipment for smart readiness and EV charging infrastructure
• Development and implementation of new products or technologies for eco-friendly processes

What cannot be paid for

• Costs that only achieve energy efficiency class E in buildings
• Refinancing of completed projects or already incurred expenditure
• Repayment of existing or new liabilities and loan interest
• Pre-financing or co-financing of other EU-funded projects
• Nuclear energy production equipment and facilities
• Investments in excluded sectors (primary agriculture, fisheries, tobacco, gambling)

Key conditions

• Must achieve at least 20% (regional SMEs) or 30% (general round) primary energy savings or emissions reduction
• A certified energy auditor report or building energy certificate is required prior to applying
• Minimum beneficiary co-financing is at least 10% of eligible costs
• Projects must be completed by February 2029 and capital discount applied for by March 2029
• Maximum loan or guarantee maturity is up to 20 years
• Works cannot be started before submitting the application (under Regulation 651/2014 rules)

How to apply

Before applying, obtain a certified expert energy audit or simulation report and prepare cost estimates along with technical permits. Submit the application online via the client portal mans.altum.lv with required financial and technical documents. ALTUM and the financing bank evaluate the project and issue the financing decision.