Renewable Energy financing mechanisms multi technology

The projects must contribute to the realization of additional renewable energy capacity across the EU in a cost-effective way. The beneficiaries will be expected to report renewable energy production on an annual basis.

The RENEWFM is one of the EU financing programmes contributing to the clean energy transition and the European Green Deal objectives including the goals and objectives of the Paris Agreement, 2030 climate and energy targets and long-term decarbonisation objective).

In this context, the RENEWFM allows EU countries to work more closely together in the take-up and promotion of renewables, improving the efficiency of investment, pooling resources and finding the right mix between public and private finance. It facilitates a more cost-effective roll-out of renewables across the EU, particularly in areas that have a greater access to natural resources or are better suited for it in terms of geography

This call aims to provide support for renewable energy projects and targets ground mounted solar PV and onshore wind projects as a well established and low-cost renewable energy technology aimed at high reliability in terms of deploying fully operational renewable electricity (RES-E) capacities and generation volumes and thus assumes effective and quick project realization from awarded project applicants.

The following activities aiming at the deployment of renewable energy capacities can be funded:

- ground mounted solar PV projects located in Finland;

- onshore wind projects located in Estonia.

A project is considered as a single renewable energy project if it is connected to the electricity grid (or to the off-taker, in case of off grid projects) via a single connection point.