The European Fee has opened a second spherical of bidding for cross-border renewable power tasks underneath the EU Renewable Vitality Financing Mechanism (RENEWFM).
The scheme, launched in 2020, encourages EU nations to collaborate on renewable power initiatives by offering monetary assist or internet hosting tasks on their territory. Luxembourg, Finland, and Estonia are partnering for this newest tender, with Luxembourg contributing EUR 52.4 million ($57.3 million) to fund photo voltaic and wind tasks in Finland and Estonia, respectively, the Fee mentioned in a media launch.
The decision for proposals, open till March 4, 2025, seeks to assist ground-mounted photo voltaic PV tasks in Finland and onshore wind tasks in Estonia. Profitable tasks have to be operational inside two and three years, respectively, of the tender closing.
- Advertisement -
The monetary contributions that enter the financing mechanism scheme will likely be distributed to the renewable power tasks by the Fee by means of aggressive tenders for grants. The Fee mentioned that grants cowl both the set up of a renewable power manufacturing facility with a sure capability (funding assist) or the precise manufacturing of renewable power (working assist). The scale of the grant is decided by the result of the tender process, the place solely essentially the most aggressive tasks will likely be chosen and obtain assist similar to their bid within the tender.
The Fee mentioned the final precept of the RENEWFM is to rank functions in keeping with the bottom worth supply per MW.
To contact the writer, e mail andreson.n.paul@gmail.com
What do you assume? We’d love to listen to from you, be a part of the dialog on the
Rigzone Vitality Community.
The Rigzone Vitality Community is a brand new social expertise created for you and all power professionals to Communicate Up about our business, share information, join with friends and business insiders and interact in knowledgeable neighborhood that can empower your profession in power.
