Participants in the European Union’s new cross-border solar energy offer must submit project proposals with an output of 5-100 MW. Luxembourg will voluntarily pay 40 million euros ($43.9 million), and Finland will host competing projects.
The tender is organized within the framework of the renewable energy financing mechanism and is based on the contribution of Luxembourg and Finland. Luxembourg offers a voluntary payment of 40 million euros and Finland hosts competing projects.
The selected developers must build the premises within 24 months. The tender is open for six months, after which CINEA evaluates the competing bids and awards the winning projects based on the lowest bid price until the budget is exhausted.
The competition is the first cross-border tender between EU countries. It promotes the rapid initial development of large solar power projects in Finland and gives Luxembourg access to renewable energy outside its territory. Both countries will share the statistical benefits of the renewable energy generated by the supported projects for the next 15 years.
The European Commission said it hoped the publication of the first call for tenders would spark interest in other EU countries and highlight the benefits of this type of cooperation.