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State Aid

PR(10)09: The EFTA Surveillance Authority approves NOK 365 million budget increase of the Norwegian Energy Fund

10.3.2010

The EFTA Surveillance Authority has today decided not to raise objections to a budget increase of the Norwegian Energy Fund for 2010. The budget increase is compatible with the EEA Agreement as it aims at facilitating the development of environmentaly friendly activities and is in line with the Authority's Guidelines for environmental protection. The scheme financed by the Norwegian Energy Fund was originally approved for a five year period (2006-2010) by the Authority.

The scheme is operated by Enova, a state enterprise. Aid is granted with the aim to increase the supply of renewable heat and renewable electricity, and to contribute to energy saving.

The budget increase involves the allocation of NOK 365 million which represents interest generated by a capital injection of NOK 10 billion into a fund (Grunnfond for fornybar energi og energieffektivisering) set up in order to provide a stable source of financing of the energy fund.

For further information, please contact:

Mr Per Andreas Bjørgan
Director
Competition and State Aid Directorate
Tel (+32)(0)2 286 18 36

 or

Mr Christian Jordal
Officer
Competition and State Aid Directorate
Tel. (+32)(0)2 286 18 53

 

Brussels, 10 March 2010




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