GrEnFIn Erasmus Mundus 2027 — Green Energy Finance Master's
Fully funded Master scholarship in Italy for International students 2027
A fully funded Erasmus Mundus master's in energy markets, sustainable finance and climate risk, taught in Bologna, Munich and Paris. Apply by 7 January 2027.
Eligibility
- Bachelor's degree with a quantitative core such as economics, finance, statistics, mathematics, physics, engineering or IT
- The call sets the degree fields and English level it accepts for each intake
- Taught entirely in English across Italy, Germany and France
- A previous Erasmus Mundus Joint Master scholarship normally cannot be held again
- Applicants should read the current admission notice rather than a previous year's
GrEnFIn — Greening Energy Market and Finance — is a two-year Erasmus Mundus Joint Master coordinated by the University of Bologna with Ludwig-Maximilians-Universität München and Université Paris Dauphine-PSL. It exists because the energy transition created a job that almost nobody was trained for: someone who can read an energy market, price climate risk and structure the finance for a low-carbon project in the same afternoon. The 2027 call is open and closes on 7 January 2027.
What it covers
A full Erasmus Mundus scholarship covers tuition fees and pays a monthly allowance of EUR 1,400 to top-ranked international students. The programme is taught entirely in English across three universities and three countries, and graduates receive a joint degree recognised in Italy, Germany and France. That matters for anyone planning to work in energy trading, infrastructure finance, regulation or climate-risk consulting, where the degree's portability is part of its value.
The academic content sits deliberately between three disciplines that normally do not share a classroom: quantitative finance, energy economics and environmental policy. The programme describes its output as sustainable energy experts, which is a more specific claim than it sounds. Most finance master's degrees teach you to price an asset; most energy master's degrees teach you to model a system. GrEnFIn is aimed at the overlap, where a power purchase agreement, a carbon border adjustment and a discounted cash flow have to be understood together.
Studying in Bologna, Munich and Paris is not decorative. Each city anchors a different part of the sector — Italian and German energy markets, French regulated infrastructure and development finance — and the mobility is structured so that you meet all three rather than choosing one.
Who can apply
The programme is built for graduates with a quantitative core, and the application page sets out the degree fields and the English level it accepts for the 2027-2028 year. If your bachelor's is in economics, finance, statistics, mathematics, physics, engineering or information technology, you are in the pool the programme was designed for; if your degree is in a humanities or applied professional field, the quantitative requirement is the first thing to check rather than the last.
Run this self-check before you write anything. Does my transcript show calculus, statistics or econometrics, and can I point to the courses by name and credit? Can I explain, in one paragraph, how a change in the price of gas reaches the cost of capital for a wind farm? Do I have English at the level the call requires? Am I choosing this over a pure finance master's for a reason I can state in a sentence? And have I read the current admission notice rather than last year's, since curricular requirements are set per intake? If the second question is difficult, the programme is still a reasonable target — but your statement has to show you are aware of the gap and have started closing it.
One structural point about Erasmus Mundus funding applies here as elsewhere: a previous Erasmus Mundus Joint Master scholarship cannot normally be held again, and scholarship holders cannot stack another EU-funded award on top. If you already hold one, check your position before investing weeks in an application.
The deadline
The call for the 2027-2028 academic year closes on 7 January 2027. The application page publishes the exact cut-off time, and it is worth diarising that time rather than the date, because a portal that closes in the morning is a different deadline from one that closes at midnight. The programme begins in September 2027.
How to apply
Applications are made through the consortium, following the steps on the GrEnFIn application page: choose your track, assemble your degree documents and transcripts with translations where required, provide English evidence, a CV and the statement the call asks for, and submit before the cut-off. Because three universities are involved, the document standard is effectively the strictest of the three — Italian admissions practice, German formal requirements and French administrative expectations all apply at once.
https://greening-energy-market-finance-emjm.eu/
Tips to win
Write about a market, not about sustainability in general. The strongest applications usually describe one concrete problem the applicant has seen — a subsidy that distorted investment, a utility that could not finance a retrofit, a tariff design that punished the wrong customer — and then explain which part of the GrEnFIn curriculum would let them analyse it properly. That is a different essay from "I am passionate about the energy transition", and it is the one that survives a committee reading two hundred files.
Use the quantitative requirement as an asset. If you have done econometrics, say what you estimated. If you have done engineering, say what you modelled. The programme is trying to build a cohort that can talk to both a trading desk and a grid operator, so evidence of one side plus curiosity about the other is a coherent profile.
Common mistakes
Applying with a statement that never mentions energy or finance. Discovering the quantitative requirement after submission. Missing the certified translation of a transcript, which in a three-country consortium is checked more strictly than applicants expect. And timing the submission to the date rather than the published hour.
If you want an advisor to check whether your quantitative coursework reads as sufficient, or to review the statement against the call, the OEAC advisory team can help before the January cut-off.
Photo: jafsegal — CC BY 2.0, via Wikimedia Commons.
Other scholarships worth comparing on OEAC Network:
https://www.oeacnetwork.com/index.php?page=post&id=20 https://www.oeacnetwork.com/index.php?page=post&id=35 https://www.oeacnetwork.com/index.php?page=post&id=46
If you want an advisor to check whether your quantitative coursework reads as sufficient, or to review the statement against the call, the OEAC advisory team can help before the January cut-off.
Last updated: 24 October 2026. Source: https://greening-energy-market-finance-emjm.eu/
Always confirm the deadline and eligibility on the official page before you apply. Scholarship dates change between rounds, and this listing is a summary — the provider's own page is the authoritative source. OEAC Network lists scholarships for free and is not an agent for any university or funding body.
