Master in Greening Energy Market and Finance at University of Bologna
Two-year English-taught finance master in Bologna on green finance and energy markets, with three paths and an Erasmus Mundus joint master option. Entry needs a listed bachelor's, English at B2 and a committee score of 60.
Master
2 years
Bologna
English
University of Bologna
Greening Energy Market and Finance (GRENFIN) is a two-year, 120 ECTS master's degree (class LM-16 R) taught in English at the University of Bologna. Entry needs a bachelor's in a listed engineering, economics, business, science or statistics field with some maths, economics and statistics, English at B2 and a committee score of 60 out of 100. Fees follow family income, so it can be tuition-free for eligible students.
Entry requirements
Detailed entry requirements
Bologna's Greening Energy Market and Finance master asks for a three-year bachelor's in a listed engineering, economics, business, science or statistics field with some maths, economics and statistics, English at B2, and a committee score of at least 60 out of 100. Reviewed 8 October 2026. [1]
Degree requirement
You need a three-year first-cycle degree, or a foreign qualification recognised as suitable that gives access to a similar master's in the country where you earned it. You should have studied some mathematics, economics and statistics, and your degree must be in one of these Italian classes or a foreign equivalent: [1]
- L-7 Civil and Environmental Engineering, L-8 Information Engineering and L-9 Industrial Engineering
- L-18 Economics and Business Management and L-33 Economic Sciences
- L-30 Physics, L-31 Computer Science, L-35 Mathematics and L-41 Statistics
For a foreign degree, the evaluation committee applies the same curricular and preparation criteria as for Italian degrees. The call does not set a minimum number of credits or a minimum grade. [1]
What this means for your transcript
The committee compares your degree with the listed classes and looks for maths, economics and statistics in your subjects. As a guide, based on the rule above:
- Usually a fit: a B.Tech or B.E. in civil, computer, electronics, electrical or mechanical engineering, a B.Sc. in Mathematics, Statistics, Physics or Computer Science, or a BA or B.Sc. in Economics, with some economics or statistics in the transcript.
- Check carefully: a B.Com, BBA or BCA, which may match the business or computer science classes, where we check how much maths, economics and statistics your transcript shows.
- Often short: a BA in humanities or social sciences without economics, and degrees outside the listed classes, such as law, arts or life sciences.
English
English at CEFR B2 or higher, proved when you apply. You can upload a certificate from the list recognised by the University of Bologna Language Centre, or certification of experience that involved English, such as an exam taken in English, a degree taught in English or a period of study abroad. The call does not list specific test scores. [1]
The programme website also lists free Oxford Online Placement Test sessions, where a B2 result counts as proof. For 2026/27, sessions ran from March to June 2026. [3]
Committee assessment
There is no entrance test. An evaluation committee from the Department of Statistical Sciences scores your file out of 100: [1]
- Academic merit: up to 70 points, based on the length and quality of your degree and your final grade, if you have one.
- CV, non-academic and work experience: up to 20 points.
- GRE certificate (optional): up to 10 points.
You need at least 60 points to enrol. An applicant who is not admitted in one intake cannot take part in a later intake that year. [1]
2026/27 deadlines
- Intake 1: 25 February to 25 March 2026 (12:00 CET), results from 8 May 2026.
- Intake 2: 7 April to 5 May 2026 (12:00 CET), results from 8 June 2026.
- Intake 3, EU candidates only: 3 June to 1 July 2026, results from 31 July 2026.
Non-EU applicants living abroad therefore had intakes 1 and 2, closing on 5 May 2026. Matriculation ran from 22 July to 29 October 2026, or to 19 November 2026 with an extra fee. You could apply before graduating, but had to graduate by 31 December 2026. The 2027/28 notice sets the next dates. [1]
Documents and non-EU steps
On Studenti Online you upload your passport or ID, your degree certificate translated into Italian or English with the transcript and Diploma Supplement where available (or your exam list if you have not graduated yet), your B2 English proof and a CV in English. A GRE certificate is optional. If a mandatory document is missing at the deadline, the file is not considered. [1]
Admitted non-EU applicants living abroad pre-enrol on Universitaly and apply for a study visa. At matriculation they upload their qualification and visa, the translation, authenticity and value of foreign documents are verified where required, and originals are checked on arrival in Bologna. Career activation had to be completed by 26 February 2027. [1]
Erasmus Mundus joint master route
GRENFIN is also offered as an Erasmus Mundus Joint Master with Ludwig Maximilian University of Munich and Paris-Dauphine University, under a separate notice. For 2026/27 it had 51 places, 17 per track, and applications ran from 13 October 2025 to 8 January 2026. [2]
- A bachelor's in mathematics, physics, economics, statistics, information technology or engineering, and English at B2.
- A GRE taken in person within two years of the deadline is compulsory and worth up to 30 points, with academic merit up to 50 and experience up to 20. The minimum is 60 points, and files scoring 80 or more are invited to an interview.
- Up to 14 Erasmus Mundus scholarships, based on €1,400 a month, were offered, and graduates receive degrees from all three universities.
Sources and verification
Checked by the ApplyAZ admissions team against the university's official documents listed below. Entry rules can change with each new call, and we re-check them before every application.
- University of Bologna, Department of Statistical Sciences Paolo Fortunati. Admission notice for the second cycle degree programme in Greening Energy Market and Finance, academic year 2026/27, courtesy translation. Reviewed 8 October 2026.
- University of Bologna, Ludwig Maximilian University of Munich and Paris-Dauphine University. Admission notice for the Erasmus Mundus Joint Master in Greening Energy Market and Finance (GrEnFIn-EMJM), academic year 2026/27. Reviewed 8 October 2026.
- University of Bologna, Greening Energy Market and Finance programme website: overview and Programme enrolment page, academic year 2026/27. Reviewed 8 October 2026.
About the programme
Greening Energy Market and Finance (GRENFIN) is a two-year laurea magistrale in class LM-16 R, Finance, run by the Department of Statistical Sciences "Paolo Fortunati" (STAT) in Bologna. It is worth 120 ECTS, is delivered entirely in English and has open access. Silvia Romagnoli is the degree programme director.
The university calls GRENFIN an innovative and interdisciplinary path targeted to the green economy, under the heading "Green finance for a sustainable energy future". Its aim is to innovate finance through advanced strategies that support the transition to renewable energy sources, with a clear awareness of the climate risks involved. It suits quantitative graduates who want to apply finance to energy and climate.
What you will study
The degree mixes finance, energy markets and climate. Students choose one of three proposed paths listed on the degree website:
- Climate and Business Science
- Environmental Finance
- Renewable Technologies
All three lead to the same degree in class LM-16 R. The course units of each path, with credits and teaching periods, are published in the course structure diagram on the degree website; we check the 2027/28 version before you apply.
How the programme is taught
GRENFIN is one of the university's international programmes and has a double or multiple degree option, through which selected students also earn a degree from a partner university. The university also runs GRENFIN as an Erasmus Mundus Joint Master with Ludwig Maximilian University of Munich and Paris-Dauphine University, under a separate admission notice. For 2026/27 it had 51 places, 17 per track, and up to 14 Erasmus Mundus scholarships, and its graduates receive degrees from all three universities. [2]
Career paths
The degree prepares finance specialists for the green economy: people who can design financial strategies that support renewable energy while weighing climate risk. Graduates can also continue to a PhD. The university's job placement service and the degree website list internships, job offers and careers events such as mock interviews.
Fees and scholarships
GRENFIN's fees follow family income (ISEE), with the lowest band for an ISEE of €27,000 or less, so this programme can be tuition-free for eligible students. ER.GO, the Emilia-Romagna right-to-study body, handles income declared from abroad and awards scholarships. Non-OECD citizens, including students from countries like India, whose family income is only abroad can pick a reduced flat fee instead.
How to apply from outside the EU
Applications are made on Studenti Online in intakes, and open access means there is no cap on places. For 2026/27, intake 1 ran from 25 February to 25 March 2026 and intake 2 from 7 April to 5 May 2026. Intake 3 was for EU candidates only, so non-EU applicants living abroad had until 5 May 2026. An applicant not admitted in one intake cannot take part in a later one. The 2027/28 notice is not yet published. [1]
Admitted non-EU applicants living abroad then submit the Universitaly pre-enrolment. The consulate needs the university's validation of it and proof of financial means before issuing a study visa. At enrolment you pay the first instalment and hand in your translated degree documents with a Diploma Supplement, CIMEA statement or declaration of value. See the non-EU enrolment guide.
How ApplyAZ helps
ApplyAZ is an Italy-based consultancy that works only with public universities. We can include this programme in a shortlist of 20 to 30 English-taught programmes that fit your profile, so your plan never rests on a single application.
For eligible students who start with us, a named person owns each stage, from A to Z:
- We check your transcript against Bologna's entry rules for this programme.
- We write your CV and a tailored statement of purpose.
- We prepare and submit your Studenti Online application with your CV and English proof, and Universitaly pre-enrolment.
- We help you declare your family income for reduced fees and file your ER.GO Emilia-Romagna scholarship application at the right time and in the right format.
- We prepare your visa file.
With operations in all 20 Italian regions, we follow each region's scholarship rules and deadlines as they change. The university decides admission, the region decides the scholarship and the consulate decides the visa, so no one can promise an outcome. You pay in milestones, and every service you pay for is either delivered or its fee is refunded (terms apply).
Programmes at Italian public universities can be tuition-free for eligible students. Check if you are eligible and book a one-to-one consultation session with one of our Italy experts, or see how ApplyAZ works.
Questions and answers
What bachelor's degree do I need for Bologna's Greening Energy Market and Finance master?
A three-year bachelor's in engineering, economics, business management, physics, computer science, mathematics or statistics, or a foreign equivalent, with some study of maths, economics and statistics. The evaluation committee assesses foreign degrees against the same criteria as Italian ones. [1]
Is there an entrance exam? Do I need the GRE?
There is no entrance test on the standard route. A committee scores academic merit up to 70 points and your CV and experience up to 20, and an optional GRE adds up to 10. You need 60 out of 100. The Erasmus Mundus route requires a GRE. [1][2]
What English level is required? Do I need IELTS?
English at CEFR B2. You can use a certificate recognised by the university Language Centre, or certified experience in English, such as a degree taught in English. The call does not list test scores, so we check which proof of B2 your file can use. [1]
When is the deadline for non-EU students?
For 2026/27, non-EU applicants living abroad could apply in intake 1, from 25 February to 25 March 2026, or intake 2, from 7 April to 5 May 2026. Intake 3 was for EU candidates only. The 2027/28 notice is not yet published. [1]
Can I apply before I graduate?
Yes. You upload your list of exams instead of the degree certificate. For 2026/27, admitted students had to graduate by 31 December 2026, or their enrolment was cancelled. [1]
I have a B.Com or a BBA. Can I apply?
Possibly. Economics and business management is one of the listed degree classes, but the committee also looks for maths, economics and statistics in your studies. We check how much quantitative work your transcript shows before you apply. [1]
What is the Erasmus Mundus version of GRENFIN?
A separate joint master with LMU Munich and Paris-Dauphine. For 2026/27 it had 51 places, a compulsory GRE, an 8 January 2026 deadline and up to 14 Erasmus Mundus scholarships. Its graduates receive degrees from all three universities. [2]
Which curricula can I choose?
Three paths: Climate and Business Science, Environmental Finance, and Renewable Technologies. All lead to the same LM-16 R degree, and the course units of each path are in the course structure diagram on the degree website. [3]
Can someone handle my whole application to Greening Energy Market and Finance at Bologna?
Yes. ApplyAZ, an Italy-based consultancy that works only with public universities, checks your transcript against Bologna's rules for this programme, handles the application and Universitaly pre-enrolment, helps you file the ER.GO Emilia-Romagna scholarship application at the right time and in the right format, and prepares your visa file, for eligible students. Start by checking your eligibility.
I'm applying from India. What is the route into Greening Energy Market and Finance?
A B.Tech or B.E., a B.Sc. in Mathematics, Statistics, Physics or Computer Science, or an Economics degree can match the listed fields if your transcript shows some maths, economics and statistics, while a B.Com or BBA needs a closer check. You need English at B2 and a committee score of 60. The steps are the Studenti Online application in an intake open to non-EU applicants, assessment and Universitaly pre-enrolment. [1] Indian students apply for the type D study visa at the Italian embassy or consulate that covers their state, such as New Delhi, Mumbai or Bengaluru.
Is the route different from Pakistan, Bangladesh or Sri Lanka?
No. The academic rules for Greening Energy Market and Finance are the same whatever your nationality. Applicants from Pakistan, Bangladesh and Sri Lanka follow the same steps as India: Studenti Online application in an intake open to non-EU applicants, committee assessment and Universitaly pre-enrolment, then a type D study visa from the Italian mission for their country of residence. Read our guide for students in Dhaka.
I live in the UAE, Saudi Arabia, Qatar, Kuwait, Oman or Bahrain. Where do I apply for the visa?
At the Italian embassy or consulate responsible for the country where you legally live, after Universitaly pre-enrolment. The academic rules for Greening Energy Market and Finance are the same whatever your nationality, and Gulf residents follow the same steps: Studenti Online application in an intake open to non-EU applicants, committee assessment and Universitaly pre-enrolment. Read our guides for Dubai, Riyadh and Doha.
I studied or live in London, New York, Toronto, Vancouver, Singapore or Kuala Lumpur. What is the route?
The academic rules for Greening Energy Market and Finance are the same whatever your nationality, and your degree is assessed like any other foreign qualification. Non-EU applicants who live abroad follow the same route: Studenti Online application in an intake open to non-EU applicants, committee assessment and Universitaly pre-enrolment, then a type D study visa from the Italian mission for where they live. Read our guides for students in London, New York, Toronto, Vancouver, Singapore and Kuala Lumpur.
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