European Commission Allocates €52 Million for Renewables in Finland, Estonia

The European Commission has allocated €52 million through the EU Renewable Energy Financing Mechanism (RENEWFM) to support nine renewable energy projects in Finland and Estonia, aiming to boost the EU’s renewable energy capacity and foster cross-border cooperation. The funded initiatives comprise seven solar photovoltaic projects in Finland, which will repurpose former industrial sites such as gravel and peat extraction areas, and two onshore wind projects in Estonia, including a hybrid solar-wind park and a standalone wind facility. Collectively, these projects will add 445.65 megawatts of new clean energy capacity, with all installations expected to be operational between 2027 and 2028. This funding round was financially supported by Luxembourg, while Finland and Estonia provide the project sites, reflecting a collaborative EU approach to meeting renewable energy targets. The RENEWFM, established in 2020, is designed to facilitate joint renewable energy efforts among EU member states. These investments underscore the EU’s commitment to expanding renewable energy infrastructure and advancing its climate goals.