The European Union's Renewable Energy Finance Facility recently launched its first tenders for the development of cross-border PV projects. Finland will serve as the host country and Luxembourg will participate as a contributor with a contribution of 40 million euros. The total capacity of the tender is expected to be 400 MW.
The first cross-border photovoltaic project
The European Commission has formally approved the EU's first cross-border tender to support renewable energy, organized under the Renewable Energy Finance Facility (RENEWFM). The European Climate and Environmental Infrastructure Executive Agency (CINEA) opened a call for bids today, the first for renewable energy.
The tender will support new PV projects in the Scandinavian country with a minimum capacity of 5 MW and a maximum capacity of 100 MW, out of a total capacity expected to be tendered for 400 MW, with tenders open until September 27.
Why did northern Europe turn to solar energy at high latitudes?
Since 2022, European electricity prices and natural gas prices have continued to rise, and market panic has also driven energy prices to soar. In the Nordic countries located in the extremely cold regions of high latitudes, it is winter. With the waves of cold waves and polar nights in the winter, the electricity consumption of local residents and small and medium-sized enterprises in Northern Europe is also beginning to face unprecedented "dark challenges". Some countries even need to adopt a "rotational power supply" scheme during the peak period of electricity consumption. In order to alleviate a series of troubles and inconveniences caused by energy shortage as soon as possible, the energy transformation of the Nordic countries is imminent.
Germany and Denmark have already demonstrated that combining solar and wind power can be an important energy source, and it is not necessarily impossible in the Nordic climate.
Solar panels generate electricity more efficiently in a low-temperature, clean and dust-free environment. At the same time, dozens of export-oriented companies and research institutions in Finland are developing advanced solar technology innovations, such as Aalto University, La Planta University, VTT National Technology Center and others.
Support Scandinavian countries to develop photovoltaic business
Scandinavia is a region of Europe, north of the Baltic Sea. Its area is approximately 1.2 million square kilometers (463,000 square miles), making it one of the largest areas in Europe. Scandinavia's northernmost region lies within the Arctic Circle. The three kingdoms of Scandinavia - Denmark, Norway and Sweden, the two republics - Finland and Iceland, and their associated territories - Åland, Faroe, Svalbard, Greenland, etc., together form the Nordic countries.
countries in scandinavia
All five countries in the Nordic region — Norway, Sweden, Finland, Denmark and Iceland — have set targets for getting more electricity from zero-carbon sources, with some aiming to become major exporters of clean energy.
Denmark, Sweden and Finland plan to significantly increase their renewable energy generation capacity in the coming years. Earlier, it was reported that Sweden's solar capacity will triple to 3TWh in the next two years, with the Scandinavian country set to export around 41TWh in 2024 as wind and solar power increases.
The tender, which takes the form of a call for proposals, will provide project developers with grants for the creation of new renewable energy projects using solar photovoltaic technology.