EU launches first tender under renewable energy financing mechanism
POWER & RENEWABLE ENERGY

EU launches first tender under renewable energy financing mechanism

The European Commission has approved the first cross-border tender to encourage renewable energy collaboration among member states in order to accelerate the achievement of clean energy targets.

The tender is being held as part of the renewable energy financing mechanism and is the result of Luxembourg and Finland's commitment to collaborate on this initiative.

Starting on April 18, 2023, interested parties can submit proposals through the funding and tender portal. Grants will be given to project developers who create new renewable energy projects that use solar photovoltaic technology.

This is the first-ever cross-border tender between EU member countries.

According to the Commission, the move heralds a new era of collaboration in the field of renewable energy, achieving the goals of the European Green Deal and REPowerEU.

Luxembourg has agreed to make a voluntary contribution of €40 million ($44 million), while Finland will host the competing projects that will compete for funding. The tender format will be a request for proposals. The European Climate Infrastructure and Environment Executive Agency (CINEA) will carry it out.

The call for proposals will be open for six months, after which CINEA will evaluate the competing proposals and award grants based on the lowest bid price until the budget is depleted.

The chosen projects will be required to construct the installation within 24 months and generate a specified minimum amount of renewable electricity in the following years.

To participate in the tender, eligible companies should build a new solar PV installation with a capacity between 5 and 100 MW while conforming to the regulations of the tender.

Also Read
Housing Ministry Blacklists Two Companies in Gurgaon
PM Gati Shakti evaluates 76 big infra projects


The European Commission has approved the first cross-border tender to encourage renewable energy collaboration among member states in order to accelerate the achievement of clean energy targets. The tender is being held as part of the renewable energy financing mechanism and is the result of Luxembourg and Finland's commitment to collaborate on this initiative. Starting on April 18, 2023, interested parties can submit proposals through the funding and tender portal. Grants will be given to project developers who create new renewable energy projects that use solar photovoltaic technology. This is the first-ever cross-border tender between EU member countries. According to the Commission, the move heralds a new era of collaboration in the field of renewable energy, achieving the goals of the European Green Deal and REPowerEU. Luxembourg has agreed to make a voluntary contribution of €40 million ($44 million), while Finland will host the competing projects that will compete for funding. The tender format will be a request for proposals. The European Climate Infrastructure and Environment Executive Agency (CINEA) will carry it out. The call for proposals will be open for six months, after which CINEA will evaluate the competing proposals and award grants based on the lowest bid price until the budget is depleted. The chosen projects will be required to construct the installation within 24 months and generate a specified minimum amount of renewable electricity in the following years. To participate in the tender, eligible companies should build a new solar PV installation with a capacity between 5 and 100 MW while conforming to the regulations of the tender. Also Read Housing Ministry Blacklists Two Companies in Gurgaon PM Gati Shakti evaluates 76 big infra projects

Next Story
Infrastructure Urban

Consistent reforms will foster growth and reduce investor risk

Incorporated in 1986 as a wholly owned subsidiary of State Bank of India, SBI Capital Markets Ltd (SBICAPS) is a SEBI-registered Category I merchant banker and research analyst. It offers the entire bouquet of investment banking and corporate advisory services under one umbrella, covering project advisory and structured financing, capital markets, mergers and acquisitions, private equity, ESG advisory, startup advisory and stressed assets resolution. Headquartered in Mumbai, SBICAPS has seven regional offices of which six are in India (Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata and New ..

Next Story
Infrastructure Urban

Adani Group Invests $240M in Global Skills Academy

The Adani Group has announced a partnership with ITE Education Services (ITEES) of Singapore to establish a world-class talent pipeline for industries such as Green Energy, Manufacturing, Hi-tech, Project Excellence, and Industrial Design. The initiative will see an investment of over $240 million by the Adani family to set up internationally benchmarked schools of excellence, named Adani Global Skills Academy. These finishing schools will train students from technical and vocational backgrounds, equipping them with industry-relevant certifications. Graduates will have employment opportunities..

Next Story
Infrastructure Urban

Swiggy to Invest $120M in Scootsy for Expansion

Food and grocery delivery giant Swiggy Ltd announced on Friday that it will invest up to $120 million in its wholly owned subsidiary Scootsy Logistics in one or more tranches. Scootsy specializes in supply chain services and distribution, including warehouse management, in-warehouse processing with value-added services, and order fulfillment for wholesalers and retailers. "We wish to inform that the Board of Directors of the company, at its meeting held on Friday, February 21, 2025, has approved the investment by the company in the equity shares of Scootsy Logistics Private Limited, a wholly..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?