The EU has selected 9 renewable energy projects under its new auction round for €52 million in funding
It comprises 7 solar and 2 onshore wind energy facilities, all required to come online between 2027 and 2028
Luxembourg has offered financial resources for this auction round conducted under the RENEWFM mechanism
The European Commission has awarded €52 million to fund 7 solar projects in Finland and 2 wind projects in Estonia through the EU Renewable Energy Financing Mechanism (RENEWFM). These projects will collectively add 445.65 MW of renewable energy capacity.
The winning renewable energy projects were chosen through the 2nd cross-border tender under RENEWFM, initiated in July 2024. The allocated €52 million out of €52.4 million on offer in funding will support solar PV projects in Finland and onshore wind projects in Estonia.
Winning solar PV projects range from 10 MW to 80 MW installed capacity. Budget allocation for these assets in the latest auction round comprises the following:
Laivakangas Solar Park (€4.2M), located on a 78-hectare gravel extraction site in Tornio into a solar plant.
Lamminneva Solar Park (€3.5M) on a former peat extraction site in Lappajärvi for solar energy.
Isoneva Solar Park (€5.6M) on a former peat site in Suonenjoki into a solar farm.
Kouvola Lakiasuo PV Plant (€7.7M) will be an industrial-scale solar plant on a 150-hectare peat production area.
JoSoleilTwo (€5.7M) is a ground-mounted solar PV project in Joroinen.
Lålby Solar Power Park (€5.9M) will convert a waste deposit area into a solar park.
Pori Peittoo Solar PV-plant (€1.1M), a solar PV plant on a material handling site.
The 2 onshore wind energy projects selected in Estonia include a hybrid wind-solar energy park that has won €9.8 million. Another €8.2 million has been allocated to an onshore wind project. All the winning projects will need to become operational between 2027 and 2028.
Established in 2020, RENEWFM encourages the uptake of new renewable energy projects across the European Union (EU). It is open to all countries in the bloc to contribute. For this round, Luxembourg has provided the financial resources for these projects for the host countries Finland and Estonia.
Under the previous rendition of the RENEWFM auction with 400 MW solar PV capacity on offer, the EU awarded €27.5 million to 7 PV assets in Finland (see EU Announces Support For 7 Finnish Solar Energy Projects).
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