Renewable Energy Financing Mechanism

Facilitating investments in renewable energy projects The EU Renewable Energy Financing Mechanism (RENEWFM) supports new renewable energy projects. It encourages a greater uptake of renewable energy sources across the EU. This will help the EU to achieve its target of the renewable energy share in the final energy consumption by 2030 in a cooperative and cost-effective manner. [Objectives](https://cinea.ec.europa.eu/objectives-eu-renewable-energy-financing-mechanism_en) The main objective of the EU Renewable Energy Financing Mechanism is to enable EU countries to work together in the take-up and promotion of renewables. Read more! [How it works](https://cinea.ec.europa.eu/eu-renewable-energy-financing-mechanism-how-does-it-work_en) The EU Renewable Energy Financing Mechanism has a cooperative nature: it allows all countries that take part in it to share the statistical benefits of the produced renewable energy.