The Finland Ukraine Trust Fund (FUTF) provides grant financing to promote the cooperation in the fields of energy efficiency, renewable energy and alternative types of energy sources in power and heat generation and in district heating networks.
The purpose of the Trust Fund is to promote cooperation between Finland and Ukraine and identify opportunities for projects, both consultancy services and investments, in the fields of energy efficiency, renewable energy and waste-to-energy and smart energy systems.
The Trust Fund is financed by the Ministry for Foreign Affairs of Finland and managed by Nefco. The local coordinator is the State Agency on Energy Efficiency and Energy Saving of Ukraine (SAEE).
The focus is on following fields:
- Renewable energy and waste-to-energy
- Power and heat generation
- District heating networks
- Energy efficiency in buildings and industry
- IT solutions and distribution networks
- Development of partnerships in the context of multilateral development programs and projects of International Finance Institutions
Grant funding can be provided to both public and private demonstration projects implemented by Ukrainian enterprises, preferably by small and medium-sized enterprises, or for technical assistance. Funds are available for disbursement until mid 2022.
Project owner’s own contribution is required, however technical assistance, such as e.g. consulting and software, can be supported with a grant up to 100 per cent of the cost.
Contribution to the UN Sustainable Development Goals
The Trust Fund supports improvements in infrastructure and living standards, and ensures environmental sustainability and energy security, so all consumers, including vulnerable groups, could have access to affordable, reliable and modern energy services. Projects financed by the Finland Ukraine Trust Fund also contribute to the following UN Sustainable Development Goals:
Grant support may be extended to demonstrative projects, if the projects are transformative, innovative and introducing new technologies at the local market; and the partner commits itself to the project with either monetary or in kind contribution. In addition demonstrative projects shall:
- benefit not only locally but nationally
- be innovative and replicable
- build on well-known and proven technology
- increase energy efficiency on system, sub-system or component levels
- be environmentally sustainable
- be cost efficient and financially sustainable after grant support
- be examples of best practices and best available technologies (BAT)
Funding for Technical Assistance (TA), also free standing, can be provided to different kind of projects including software services, legislation support and creation of funding instruments, knowhow, renewables, waste incineration etc. Funding can also be granted for expert services to support SAEE. Specifically, Projects eligible for funding of TA and consultancy projects have to:
- benefit not only locally but nationally
- be transformative, demonstrative and innovative
- increase investor confidence in energy sector
- support ratification of clean energy policies
Procurement is to be tied to Finnish content, meaning that each project must have a Finnish interest in the form of consulting, supplies or investment. The level of the Finnish content is at least 30% of the total value of the project. The consultants selected shall be mainly firms registered in Finland. Procurement related to the activities to be funded shall be carried out in accordance with Nefco Procurement Guidelines of 12 December 2013.
Ongoing Call for Proposals
The FUTF is currently open for applications for the Finnish companies for a limited period of time. We can finance both new initiatives and support activities that build on initiatives previously developed. The application deadline for this Call for Proposals is 20 May 2021. To apply for funding from the Trust Fund, please fill in the Application Form. Please note that completed applications forms shall be submitted in an electronic form to Elomatic Oy, Jarkko.firstname.lastname@example.org, marked as “FUTF CFP 2021”.
Download the eligibility criteria and check whether your project is eligible.
Questions and Answers
Questions and answers document can be downloaded here.
For information about the Trust Fund, please contact the Coordination and Management Consultant: