The European Commission has announced the allocation of €52 million in funding through the EU Renewable Energy Financing Mechanism (RENEWFM) to support nine renewable energy projects in Finland and Estonia. These projects, which will add a total capacity of 445.65 megawatts (MW), are expected to be commissioned between 2027 and 2028.
The majority of the funding, €33.7 million, will support seven solar projects in Finland. These projects are being developed across various locations, including Tornio in northern Finland, Southern Ostrobothnia, Northern Savonia, and the southeastern interior of the country. In addition, around €18 million will be allocated to support a hybrid solar-wind project and a standalone wind project in Estonia.
The RENEWFM, which was established by the European Commission in 2020, aims to provide stronger financial support for renewable energy projects and accelerate the adoption of renewable energy solutions across the European Union.
The European Commission’s efforts through RENEWFM are part of broader initiatives to meet the EU’s renewable energy targets and facilitate the transition to a more sustainable energy future across member states.
