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RENEWFM: EUR 27.5 million to support 7 solar power plants in Finland

Posted on by darion

Following the successful completion of the first tender of the EU Renewable Energy Financing Mechanism (RENEWFM) on September 27, 2023, funding for the construction of photovoltaic infrastructure in Finland received 8 photovoltaic projects with a total capacity of 282.77 MW. Ultimately, 7 projects passed the procedure and signed a co-financing agreement with CINEA, which is the first step to starting implementation. The projects will contribute to achieving national renewable energy targets in Finland and Luxembourg.

The first project to sign a grant agreement with CINEA was Loukkaanaro in March 2024. Loukkaanaro is a 20 MW ground-mounted solar park to be built in Loukkaanaro in Utajärvi. The project, supported by RENEWFM for over EUR 2.3 million, is scheduled for completion by 2025 and will then be a larger photovoltaic project implemented in the northern part of Finland. The photovoltaic park will operate for at least thirty years and will contribute to reducing CO emissions2 emissions by approximately 1,540 tons per year.

The remaining 6 projects signed in April and May 2024 and their specifics are presented below:

  • Niittyneva Solar Park: an 8 MWp solar power plant in the municipality of Nivala, located in central Finland. Electricity production is expected to start in February 2025, and the estimated amount of energy produced by the plant is approximately 7,240 MWh per year. The plant is supported by RENEWFM with EUR 837,000.
  • Ohrasuo Solar Park: a 7.8 MWp solar power plant in the city of Savonlinna, located in eastern Finland. The plant, supported by EUR 990,000 under RENEWFM, is expected to become operational in April 2025 and produce approximately 7.2 GWh per year.
  • Koirivaara Solar Park: a 30 MWp solar power plant in the municipality of Tohmajärvi, located in the North Karelia region. The project received funding under RENEWFM for the amount of EUR 5.2 million. The goal is to complete construction of the plant by December 2025 so that it can start producing electricity in January 2026, with an estimated production of 27.2 GWh per year.
  • Honkisaarenneva photovoltaic park: a 33 MWp solar power plant located on a peat bog in Kuortane, South Ostrobothnia region. Featuring the latest solar panel technology, it has been designed by experienced Finnish experts and proves the viability of solar energy generation in unique environments. The project received funding of EUR 4.1 million under the RENEWFM program.
  • Kuortane Solar: a 74.03 MWp photovoltaic power plant located in Leppälänkylä in the Southern Ostrobothnia region and developed in an area currently used for peat production. Thanks to the support of RENEWFM in the amount of EUR 9.9 million, the expected production of the plant is 67.6 GWh per year and will contribute to reducing CO emissions by approximately 3,650 tons2 emissions per year in Finland.
  • Poytya Solar: a 40.16 MWp photovoltaic power plant located in Pöytyä, southwest Finland. The project is being implemented on land, in an area of ​​58.5 ha, mostly agricultural land. The plant is expected to produce 40.16 GWh per year. Thanks to EUR 4 million in support from RENEWFM, the Pöytyä Uusiniitty solar farm could help reduce CO emissions by approximately 2,169 tonnes2 emissions in Finland every year.

Total support from the EU Renewable Energy Financing Facility for these projects is EUR 27.5 million and aims to encourage greater use of renewable energy sources, in particular in Finland and across the EU in general.