European Commission awards €52.4 million for solar projects in Finland

The European Commission has granted €52.4 million ($59.4 million) in funding for seven solar projects in Finland, as part of a larger renewable energy package that also involves two wind projects in Estonia.

The funding, provided through the EU Renewable Energy Financing Mechanism (RENEWFM), will support the development of the Finnish solar projects and the onshore wind projects in Estonia. The combined capacity of the nine projects is 445.65 MW, with an estimated commissioning timeline between 2027 and 2028.

Among the Finnish solar projects are the Laivakangas solar park, Lålby solar installation, Lamminneva PV project, Isoneva solar array, Kouvola Lakiasuo solar plant, JoSoleilTwo solar park, and Pori Peittoo solar park. These projects are being built on repurposed sites such as former gravel extraction areas and waste deposit sites.

Established in 2020, RENEWFM aims to foster collaboration between contributing and hosting EU member states. Luxembourg provided financial resources for this initiative, with Finland and Estonia being the hosting countries. The projects were selected through a tender process in July 2024.

This announcement follows the approval of permits for seven solar projects in Finland last year, totaling 213 MW of capacity. Finland has added 200 MW of solar capacity in 2024, reaching a cumulative capacity of about 1.2 GW.