The European Commission has allocated EUR 52 million ($58.7 million) through the EU Renewable Energy Financing Mechanism (RENEWFM) for nine projects in Finland and Estonia. The funding aims to strengthen the EU’s renewable energy capacity and foster cross-border cooperation among member states.
The European Commission said in a media release that the awarded projects will add a total of 445.65 megawatts (MW) of capacity expected to be commissioned between 2027 and 2028.
The funding will support seven solar photovoltaic (PV) projects across Finland. These include the Laivakangas Solar Park, which received EUR 4.2 million (4.7 million); the Lamminneva Solar Park, which received EUR 3.5 million ($3.9 million); and the Isoneva Solar Park, which received EUR 5.6 million ($6.3 million). The three projects will repurpose existing gravel and peat extraction sites into solar power plants.
A waste deposit area will also be repurposed into the Lålby Solar Power Park, with the European Commission awarding EUR 5.9 million ($6.6 million) to the project.
The Kouvola Lakiasuo PV Plant received EUR 7.7 million ($8.7 million) to build an industrial-scale solar power plant in Kouvola (Southeastern interior of Finland), repurposing the 150-hectare Lakiasuo and Heposaari peat production areas.
The JoSoleilTwo project received EUR 5.7 million ($6.4 million) to build a ground-mounted solar PV project in Joroinen, North Savo, while the Pori Peittoo Solar PV plant received EUR 1.1 million ($1.2 million) to build a solar PV plant on a material handling area.
In Estonia, the Püssi Project and the Maima Wind Park, both onshore wind projects, received EUR 9.8 million ($11 million) and EUR 8.2 million ($9.2 million) respectively.
The European Commission established the RENEWFM in 2020, aiming to support renewable energy projects across the EU by connecting contributing and hosting countries.
For the funding for Estonia and Finland, the European Commission said that Luxembourg acted as the contributing country.
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