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Luxembourg is providing €54.9 million in funding through the EU’s new renewable energy financing mechanism. Funding is available for solar energy projects to be implemented in Finland and Bulgaria. The supported projects will be selected through a competitive tender organized by the European Commission and the European Climate, Infrastructure and Environment Executive Agency (CINEA).

The call for applications under the renewable energy financing mechanism, targeting solar energy investments, is open from 3 March to 1 September 2026. More detailed application guidelines and information on the financing mechanism can be found on CINEA’s website and on the European Commission’s EU Funding & Tenders portal.

Finland has previously participated twice in calls under the RENEWFM financing mechanism. The agreement signed in 2023 between Finland and Luxembourg on participation in the mechanism was the first of its kind in the EU. Following this, the European Commission awarded a total of €27.5 million in June 2024, after a tender procedure, to seven solar energy projects to be implemented in Finland. In the subsequent call, the Commission also granted €34 million in support to seven Finnish projects in May 2025.

In return for its funding, Luxembourg will receive statistical transfers corresponding to 80% of the output of the projects financed under the mechanism for a period of 15 years. Finland allows projects funded through the mechanism to be built on its territory and thus benefits from the energy produced and the associated investments.

Further details: Salla Palander, e-mail: salla.palander(at)gov.fi