Finnish government agrees to fund renewable energy growth

HELSINKI (Reuters) - Finland’s government has agreed on “hundreds of millions of euros” to fund the growth of renewable energy, Finnish media reported late on Tuesday, as the Nordic country seeks to cut its carbon emissions.

National broadcaster YLE said on its website the package of measures, which would include tax breaks and be focused on the wood industry, would run until 2020.

National news agency STT quoted Prime Minister Matti Vanhanen as saying the scope of the package covered the power generating equivalent of three nuclear reactors.

A government spokesperson was not immediately available for comment.

The agreement comes ahead of a decision by the government, expected during the next week, on whether to build new nuclear power. Three applicants are seeking permission to build reactors, but the government has said it sees no need for three.

Reporting by Brett Young, editing by Will Waterman