Renewable energy financing mechanism technology specific

Expected Impact:The projects must contribute to the realisation of additional renewable energy capacity across the EU in a cost-effective way and the timely delivery of renewable energy statistics to the participating Member States. The beneficiaries will be expected to report renewable energy production on an annual basis.Objective:The objective is to contribute to the clean energy transition and the Clean Industrial Deal objectives including the goals and objectives of the Paris Agreement, the 2030 climate and energy targets and 2050 carbon neutrality objective. The call shall also contribute to the implementation of Directive 2018/2001 as amended by Directive (EU) 2023/2413 and of the Governance Regulation which sets out an indicative trajectory from 2021 to 2030 for each Member State’s contribution to the Union’s renewables target, with three reference points to be reached in 2022, 2025 and 2027. In this sense, Member States can use the RENEWFM to fill a gap towards the indicative Union trajectory which is the key objective of this call.More specifically, this topic targets ground mounted solar PV with co-located BESS and ground mounted solar PV projects. Solar PV is a well-established and low-cost renewable energy technology aimed at high reliability in terms of deploying fully operational renewable electricity (RES-E) capacities and generation volumes and thus assumes effective and quick project realization from awarded project applicants. Likewise, the costs of battery energy storage systems are rapidly falling, and the co-location of such equipment with a renewable energy production facility entails significant benefits for both the generation installation and the electrical system. By sharing the same grid access point, synergies between the generation and storage systems can be maximised to improve generation profile, optimise grid capacity utilisation, save infrastructure costs, and ultimately enable the integration of higher shares of renewable energy.Sc