Get real time updates directly on you device, subscribe now.
Romania received, through the Modernization Fund, a first tranche worth almost 1.1 billion euros for investments in the development of energy distribution networks, the rehabilitation/modernization of district heating networks, the natural gas transport network, as well as investments in energy-efficient rolling stock, according to a press release from the Ministry of Energy.
According to the cited source, the member states that benefit from the first payment from 2024 are: Romania (1.095 billion euros), Bulgaria (65.2 million euros, Croatia (52 million euros), Czech Republic (835.2 million euros) , Estonia (24.1 million euros), Hungary (76.8 million euros), Latvia (26.8 million euros), Lithuania (59 million euros), Poland (697.5 million euros) and Slovakia (35 million euros).
“Romania received a first tranche of 1.095 billion euros for investments in the development of energy distribution networks, the rehabilitation/modernization of district heating networks, the natural gas transport network, as well as investments in energy efficient rolling stock. Also, the amount includes the financing of future projects established through Contracts for Difference. Thus, Romania benefits from the largest amount of money from the European Commission, compared to the other countries in the region, namely 37% of the total funds,” the ministry says.
The Modernization Fund is an essential tool for Romania’s green transition and the modernization of the national energy system. I committed from the very beginning to put these financings to work, to launch programs, state aid schemes, to finance the much needed investments. Here, through the efforts of the team from the Ministry of Energy and the Government of Romania, our country is emerging as the main energy player in the region. The payment made today by the European Commission confirms that Romania’s potential in developing new energy capacities is huge, that’s why the motto of my mandate remains: investments, investments, investments. During the 12 months of his mandate at the Ministry of Energy, the investments financed for the energy system through the Fund for Modernization and PNRR exceeded 25 billion euros. We continue at the same pace. We focus on promoting the calls already launched through the Fund for Modernization and PNRR for self-consumption, battery storage, electricity network rehabilitation, heating network modernization and CHP modernization, but also on starting new calls through which we offer the opportunity to the private environment and the public to obtain financing for the implementation of energy efficiency projects, as well as the launch of the scheme for contracts for difference (CFD)”, said the Minister of Energy, Sebastian Burduja.
The Ministry of Energy also announces that it is preparing the launch of the first tender aimed at Contracts for Difference. In the next period, the final details will be established regarding the distribution of the amounts allocated for investments in wind and solar energy, depending on the existing portfolio of projects financed from the National Recovery and Resilience Plan (PNRR) and the Modernization Fund.
DONATE: Support our work
In an ever changing and challenging world, the media is constantly struggling to resist. Romania Journal makes no exception. We’ve been informing you, our readers, for almost 10 years, as extensively as we can, but, as we reject any state funding and private advertising is scarce, we need your help to keep on going.So, if you enjoy our work, you can contribute to endorse the Romania Journal team. Any amount is welcome, no strings attached. Choose to join with one of the following options:
Donate with PayPal
Donate by Bank Wire
Black Zonure SRLUniCredit Bank. Swift: BACXROBU
RON: RO84 BACX 0000 0022 3589 1000
EURO: RO57 BACX 0000 0022 3589 1001
USD: RO30 BACX 0000 0022 3589 1002