Norway (NORAD) grant for renewable energy development

Norway has launched the Renewable Energy Guarantee Program (NORAD), which is also available to Ukrainian businesses.

The minimum amount of the guarantee provided to a business is NOK 200 million. The program covers up to 50% of the risk, the total amount of guarantees under this competition is NOK 1.75 billion.

Requirements for the applicant:

A legal commercial entity with a clear status and ownership structure.

Previous successful experience in implementing similar projects or investments.

Availability of risk management systems, internal control procedures and anti-corruption policies.

Compliance with the UN Principles on Human Rights, OECD Standards for Multinational Enterprises and ethical norms.

Mandatory compliance with the system of protection against exploitation, violence and harassment (SEAH).

Project requirements:

Must meet the objectives of the program: access to renewable energy, reduction of CO₂ emissions, support for national strategies.

Compatible with OECD criteria for Official Development Assistance (ODA).

Clearly defined, realistic and measurable objectives.

Support for local ownership and sustainable development.

Baseline data, business plan, feasibility study, environmental permits (if required) required.

Call for proposals without a specific closing date. Evaluation of applications will start in January 2025. Applications may be suspended once the available funds (NOK 1.75 billion) have been fully allocated.