RES Financing Mechanism

RES Financing Mechanism

According to the recently approved Governance directive, the Commission will establish a European Renewables Financing Mechanism with a two-fold objective:

  • covering the gaps in the EU trajectory to its energy and climate goals by supporting projects on renewables;
  • contributing to the creation of a RES enabling framework, as foreseen in art.3 of the Renewable Energy Directive.

The Commission will need to adopt an implementing act to detail the structure and functioning of this financing mechanism, and to this purpose was organised an Expert Group meeting, to collect feedback from relevant stakeholders including Solar Heat Europe/ESTIF.

The meeting took place in Brussels on June 13th and presented a first draft proposal prepared by a consulting agency. The document was mainly addressing investments in power generation capacity, and it was referred that it would also open to renewable heating and cooling, though the proposal on how to address this sector is not yet developed. Solar Heat Europe is planning to keep the contacts with the Commission on this file and provide relevant inputs to the consultants to achieve a balanced text.

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