The EU renewable energy financing mechanism (RENEWFM) supports new renewable energy projects. It encourages a greater uptake of renewable energy sources across the EU. This will help the EU to achieve its target of the renewable energy share in the final energy consumption by 2030 in a cooperative and cost-effective manner.
The main objective of the EU Renewable Energy Financing Mechanism is to enable EU countries to work together in the take-up and promotion of renewables. Read more!
The EU Renewable Energy Financing Mechanism has a cooperative nature: it allows all countries that take part in it and to share the statistical benefits of the produced renewable energy.
The EU Renewable Energy Financing Mechanism has been introduced by the regulation on the Governance of the Energy Union (see article 33). A specific RENEWFM implementing regulation was adopted in 2020. The implementing regulation explains in details the functioning of the financing mechanism: Regulation on the EU renewable energy financing mechanism (EU) 2020/1294
The EU Renewable Energy Financing Mechanism in motion
How to take part?
To take part in the RENEWFM as hosts or contributors, the EU countries should respond to the official call for expression of interest launched by the European Commission once a year. To take part in the RENEWFM as project developers, the companies should respond to the call for proposals, once it is published.
- Vardas, pavardė (pavadinimas)
- For more information regarding RENEWFM please send your question to the FMB
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