RENEWFM: project Loukkaanaro signed grant agreement

Following the successful conclusion of the first tender of the EU renewable energy financing mechanism 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. 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 has been Loukkaanaro, a 20 MW ground-mounted solar park to be built in Utajärvi's Loukkaanaro.

Loukkaanaro 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.

Following the signature of the grant agreement, the project promoter Oulun Seudun Sähkö has now 24 months to build and start operating the project.

What’s next

The other awarded projects will have their grant agreement signature in the upcoming weeks.
 

More information