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Title | RENEWFM: EUR 27.5 million supporting 7 solar power plants in Finland |
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Following the successful conclusion of the first tender of the EU renewable energy financing mechanism (RENEWFM) on 27 September 2023, 8 solar PV projects with a total capacity of 282.77 MW were awarded funding to build their photovoltaic infrastructure in Finland. In the end, 7 projects made it through and have signed the grant agreement with CINEA, which is the first step in order to kick off the implementation. The projects will contribute to the achievement of the national targets for renewables in Finland and Luxembourg. The first project to sign the grant agreement with CINEA was Loukkaanaro, in March 2024. Loukkaanaro is a 20 MW ground-mounted solar park to be built in Utajärvi's Loukkaanaro. Supported by RENEWFM with over EUR 2.3 million, the project is planned to be finished by 2025 and will then be the larger PV solar project constructed in the northern part of Finland. The solar park will run for at least thirty years and will contribute to reduce CO2 emissions by approximately 1,540 tons per year. The other 6 projects signed in April and May 2024, and their specific characteristics are reported below:
The total support of the EU Renewable Energy Financing Mechanism to these projects amounts to EUR 27.5 million, aiming to encourage a greater uptake of renewable energy sources in Finland in particular, and across the EU in general. |
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Sources | EU |
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