Business greening loan or guarantee with a capital discount

Who can apply

Companies registered in Latvia can apply. Regional greening support is available to SMEs outside the Riga region, while energy efficiency support is intended for SMEs in specific regions and later in Riga, Pieriga, and for large enterprises. The company must not be in financial distress and must meet ALTUM creditworthiness criteria.

Maximum support

For regional greening, the loan is up to EUR 10,000,000 and the capital discount up to EUR 3,000,000, while for energy efficiency the loan is up to EUR 1,000,000 and the capital discount up to EUR 300,000.

Share of costs covered

The capital discount covers up to 30% of the loan principal, the ALTUM loan covers up to 90% of eligible costs, and the bank loan guarantee covers up to 80%.

What can be paid for

• Construction works and engineering upgrades for energy efficiency in non-residential buildings
• Energy management systems and building smart-readiness equipment
• Purchase of energy-efficient equipment or machinery replacing existing units
• Improving energy efficiency of existing equipment and heat recovery
• Purchase of renewable energy technology for self-consumption
• Energy accumulation and storage equipment
• Commercial area engineering systems and electric vehicle charging points
• Development and introduction of new products or technologies for resource efficiency

What cannot be paid for

• Primary production of agricultural products, fisheries, and aquaculture
• Manufacture and trade of tobacco products
• Gambling and betting
• Costs that only achieve energy efficiency class E for buildings
• Nuclear energy production
• Financing of already completed projects and debt refinancing

Key conditions

• Must achieve at least 20% or 30% primary energy savings
• Minimum own co-financing of at least 10% for ALTUM loans
• A certified expert opinion or energy audit is required
• At least 80% of energy produced by renewable installations must be for self-consumption
• Projects must be completed by February 2029 and reporting submitted by March 2029
• Loan or guarantee term is up to 20 years

How to apply

Applications are submitted online at mans.altum.lv with an expert assessment, permits, and a cost estimate. Following approval from ALTUM or the partner bank, the company implements the project and applies for the capital discount after reaching the targets.