ALTUM funding opens on 24 August: up to €1 million and a 30% capital rebate

From 24 August 2026, small and medium-sized enterprises in Tukums, Limbaži, Saulkrasti and Ogre municipalities can apply for ALTUM energy-efficiency support with a capital rebate. These businesses have priority during the first 60 working days, while €7.8 million of ERDF funding is available for the programme extension.

The support is not limited to building renovation. Funding may also be used to modernise equipment, replace inefficient machinery, introduce energy-management systems and improve engineering systems.

How much funding is available?

ALTUM loan of up to €1 million for eligible costs;
guarantee of up to 80% of an eligible bank loan;
capital rebate of up to 30% of an ALTUM loan or bank loan backed by an ALTUM guarantee;
the total capital rebate may reach €300,000 per group of linked enterprises.

For an ALTUM loan, the beneficiary must contribute at least 10% of eligible costs. The actual capital rebate may be lower depending on the state-aid framework applicable to the company.

What projects can be funded?

The project must achieve at least a 30% reduction in primary energy consumption. Eligible activities may include:

energy-efficiency improvements to non-residential buildings;
energy-management systems;
efficiency improvements to existing equipment;
replacement of machinery with more energy-efficient equipment;
renewable-energy technologies replacing existing equipment;
renovation or construction of engineering systems in commercial areas.

Who has priority?

During the first 60 working days, applications from SMEs in Tukums, Limbaži, Saulkrasti and Ogre municipalities are accepted and assessed in the order submitted.

From 16 November 2026, if funding remains available, SMEs in Riga and the rest of Pieriga as well as large enterprises throughout Latvia will also be able to apply.

What should be prepared before applying?

A certified specialist's assessment is required before submitting the application. Depending on the project, this may be an energy performance certificate, an energy audit for equipment replacement or a company energy audit.

The company should also prepare the required permits, technical documentation and cost estimates, and check the available de minimis aid balance for its group of linked enterprises. Applications are submitted through ALTUM's customer portal.

Why should businesses act early?

The programme budget is limited and priority applications are assessed in the order received. Businesses already planning equipment replacement, lower energy consumption or building improvements should therefore assess their eligibility early.

A capital rebate can reduce the amount of project financing that ultimately has to be repaid once the programme conditions have been successfully met.

Frequently asked questions

Is the funding only for building renovation?

No. Equipment upgrades, replacement of inefficient machinery, energy-management systems and certain engineering systems may also qualify.

Is the capital rebate always 30%?

No. Thirty percent is the maximum. The actual amount depends on the project and applicable state-aid rules.

Can an SME in Riga apply from 24 August?

No. SMEs in Riga and the rest of Pieriga, as well as large enterprises, are scheduled to become eligible from 16 November if funding remains available.