[SMM PV News] EU’s First Cross-Border Financed Solar Project Becomes Operational in Finland

Published: Apr 13, 2026 17:42

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The 20 MW Loukkaanaro solar park in Utajärvi, Finland, has become the first project commissioned under the EU Renewable Energy Financing Mechanism (RENEWFM). This project exemplifies cross-border cooperation, with Luxembourg providing funding for a project hosted by Finland. The facility received a €2.35 million grant toward its total €10 million cost. Billed as the largest solar park in northern Finland, it features 30,000 panels and is expected to cover 4% of the region’s annual electricity consumption. CINEA noted that the project is a vital milestone for utility-scale solar in northern climates, providing essential operational data on the impacts of snow and freezing temperatures on energy yield.

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