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European Climate, Infrastructure and Environment Executive Agency
  • News article
  • 29 May 2024
  • European Climate, Infrastructure and Environment Executive Agency
  • 2 min read

RENEWFM: EUR 27.5 million supporting 7 solar power plants in Finland

Solar power plant

Following the successful conclusion of the first tender of the EU renewable energy financing mechanism (RENEWFM) on 27 September 2023, 8 solar PV projects with a total capacity of 282.77 MW were awarded funding to build their photovoltaic infrastructure in Finland. In the end, 7 projects made it through and have signed the grant agreement with CINEA, which is the first step in order to kick off the implementation. The projects will contribute to the achievement of the national targets for renewables in Finland and Luxembourg.

The first project to sign the grant agreement with CINEA was Loukkaanaro, in March 2024. Loukkaanaro is a 20 MW ground-mounted solar park to be built in Utajärvi's Loukkaanaro. Supported by RENEWFM with over EUR 2.3 million, the project is planned to be finished by 2025 and will then be the larger PV solar project constructed in the northern part of Finland. The solar park will run for at least thirty years and will contribute to reduce CO2 emissions by approximately 1,540 tons per year.

The other 6 projects signed in April and May 2024, and their specific characteristics are reported below: 

  • Niittyneva Solar Park: a 8 MWp solar power plant in the municipality of Nivala, located in Central-Finland. Expected to start electricity production in February 2025, the estimated amount of energy produced by the plant is around 7240 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 the East of Finland. The plant, supported with EUR 990,000 under RENEWFM, is expected to be operational in April 2025 and will 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 has been awarded with EUR 5.2 million under RENEWFM. The aim is to finalise the plant by December 2025 so it can start producing electricity in January 2026, with an estimation of 27,2 GWh per year. 
  • Honkisaarenneva PV solar park: a 33 MWp solar power plant located on a peat bog in Kuortane, in the South Ostrobothnia region. It features the latest solar panel technology, is engineered by experienced Finnish experts, and proves the viability of solar power generation in unique environments. The project has been awarded with EUR 4.1 million of RENEWFM funding.
  • Kuortane Solar: a 74,03 MWp solar PV production plant located in Leppälänkylä, in the South Ostrobothnia region, and developed in an area currently used for peat production. Supported by RENEWFM with EUR 9.9 million, the expected output of the plant is 67,6 GWh per year and will contribute to decrease approximately 3650 tons of CO2 emissions annually in Finland.
  • Poytya Solar: a 40,16 MWp Solar PV production site, located in Pöytyä, in the Southwest of Finland. The project is developed onshore, in an area of 58,5 hectares consisting mostly of agricultural land. The plant is expected to produce 40,16 GWh per year. With EUR 4 million support under RENEWFM, Pöytyä Uusiniitty solar farm can help to decrease approximately 2169 tons of CO2 emissions in Finland, every year.

The total support of the EU Renewable Energy Financing Mechanism to these projects amounts to EUR 27.5 million, aiming to encourage a greater uptake of renewable energy sources in Finland in particular, and across the EU in general. 

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