airplanebooksbriefcase business cogs cross election entertainment fish house law lockmedicalpeopleselfservices socialtax

Financial strengthening for the large-scale hydropower tender

The Government of Greenland allocates further financial resources towards the large-scale tender of the hydropower potentials at Tasersiaq and Tarsartuup Tasersua.
30. November 2023

The National Budget Bill of 2024 allocates additional budgetary resources towards the large-scale hydropower tender project. The financial strengthening assures capacity building and substantial project advancement of the hydropower tender.

The Government of Greenland is continuously progressing the hydropower tender, and the additional financial resources emphasize the Government’s commitment to the project.

The additional funding to the hydropower tender project is a part of the EU and Greenland partnership program on Green Growth (Multiannual Indicative Programme Greenland: 2021-2027). The Green Growth program aims to support diversifying the Greenlandic economy and make it more sustainable, while supporting a green transition in Greenland. The EU Capacity Facility program also adds further financial backing to the hydropower tender.

As an additional step towards fulfilling its green commitments, on November 14, the Government of Greenland announced that Greenland is joining the Paris Agreement. The Government will prepare a national climate strategy, setting the direction for the green transition that is compatible with Greenland’s economic growth targets.