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CINEA Approves €27.5 Million for 213 MW PV Under Bloc’s Maiden Cross-Border RE Auction

Solar panels, photovoltaic, alternative electricity source
  • 7 upcoming solar PV projects in Finland have secured a €27.5 million combined grant from CINEA  
  • These were the winners of the EU’s maiden cross-border renewable energy tender launched in 2023  
  • The largest of the lot will have over 74 MW capacity and the smallest 7.8 MW  

The European Climate, Environment and Infrastructure Executive Agency (CINEA) has signed grant agreements with the 7 winning solar PV projects in Finland that were adjudged winners of the 1st cross-border renewable energy tender. The European Union (EU) agency will support the projects with €27.5 million in financing.  

The tender with a total 400 MW PV capacity was launched in April 2023 under the European Union (EU) Renewable Energy Financing Mechanism (RENEWFM). Tariffs were capped at €180/MW (see EU’s Cross Border Renewable Energy Tender). 

A total of 8 solar PV projects with a combined 282.77 MW were selected under the process, out of which 7 representing 212.99 MW made it through and signed the agreement with CINEA. 

These projects include the 20 MW Loukkaanaro ground-mounted solar park to be built in Utajärvi’s Loukkaanaro. As the 1st PV project to sign the CINEA agreement, it has been allocated more than €2.3 million. It is scheduled to come online by 2025 and operate for at least 30 years. 

CINEA has distributed the remaining grant for the following projects:  

  • €837,000 for the 8 MW Niittyneva Solar Park in Nivala municipality 
  • €990,000 for the 7.8 MW Ohrasuo Solar Park in Savonlinna city  
  • €5.2 million for the 30 MW Koirivaara Solar Park in Tohmajärvi municipality  
  • 4.1 million for the 33 MW Honkisaarenneva Solar Park on a peat bog in Kuortane, in the South Ostrobothnia region 
  • 74.03 MW Kuortane Solar Project, also in a peat production area in Leppälänkylä, in South Ostrobothnia has secured €9.9 million, and   
  • €4.0 million for the Poytya Solar Park with 40.16 MW capacity in Pöytyä on agricultural land.  

CINEA says this financing is the initial step to kick off their implementation. These will contribute to achieving the national targets for renewables in Finland and Luxembourg. 

Source from Taiyang News

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