EU Renewable Energy Financing Mechanism - What you need to know ahead of 1 January 2021

In January 2021, the European Commission’s Renewable Energy Financing Mechanism (“the
Mechanism”) will come into effect. The Commission has established the Mechanism, which is a new means of financing renewable energy projects in EU Member States, as part of the Clean Energy Package.
The Mechanism has two objectives:
to support Member States in achieving their renewable energy generation targets in a cost-effective way. In this respect, the Mechanism could provide a further boost to the deployment of renewable technologies – in particular offshore wind and solar – in Member States where their deployment is most cost-effective.
to reduce cost of capital where this is a barrier to investment in renewable energy investment by having grants awarded under the Mechanism be allocated in accordance with an “enabling” objective. This could support projects involving innovative technologies.

Related Keywords

Luxembourg ,Lithuania ,United Kingdom , ,Renewable Energy Directive ,European Parliament ,Clean Energy Package ,European Commission ,Renewable Energy Financing Mechanism ,Clean Energy ,Member States ,Member State ,Renewable Energy ,Host Member States ,Contributing Member States ,Ghost Member ,லக்ஸம்பர்க் ,லிதுவேனியா ,ஒன்றுபட்டது கிஂக்டம் ,புதுப்பிக்கத்தக்க ஆற்றல் உத்தரவு ,ஐரோப்பிய பாராளுமன்றம் ,சுத்தமான ஆற்றல் ப்யாகேஜ் ,ஐரோப்பிய தரகு ,புதுப்பிக்கத்தக்க ஆற்றல் நிதி பொறிமுறை ,சுத்தமான ஆற்றல் ,உறுப்பினர் மாநிலங்களில் ,உறுப்பினர் நிலை ,புதுப்பிக்கத்தக்க ஆற்றல் ,தொகுப்பாளர் உறுப்பினர் மாநிலங்களில் ,தொகுப்பாளர் உறுப்பினர் ,