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EU Renewable Energy Financing Mechanism – A step closer towards an Energy Union?

The EU Renewable Energy Financing Mechanism is currently in its implementation phase and expected to come into effect soon. This Mechanism was introduced with the Clean Energy Package and aims to foster and facilitate new renewable energy projects in view of the 2030 targets.

On 15 September 2020, the European Commission adopted an implementing regulation (the "Regulation") establishing the legal framework for the Union Renewable Energy Financing Mechanism (the "Financing Mechanism") provided in Article 33 of the Regulation 2018/1999 on the Governance of the Energy Union and Climate Action (the "Governance Regulation"). The Financing Mechanism aims to tender cross-border support for new renewable energy projects in the Union, allowing Member States to work together more easily in financing and deploying renewable energy projects, either as host or contributing countries.

To continue reading, download the white paper: EU Renewable Energy Financing Mechanism – A step closer towards an Energy Union?

This white paper has been written by David Haverbeke and Laura Pellens Do not hesitate to contact us for further discussion.