The European Commission approved on Tuesday a scheme worth 103 million euros launched by Romania to support investments in the development of electricity storage capacities (batteries), informs a press release of the Community Executive.

The project provides for the commissioning of a capacity of at least 480 MWh of electric energy storage in batteries, until December 31, 2025. The total budget related to this scheme is the equivalent in lei of the sum of 103,480,000 euros, composed of 79,600,000 euros of funds European funds ensured through the Recovery and Resilience Mechanism within the PNRR and 23,880,000 euros of national funds through the application of the 30% overcontracting percentage, according to Agerpres.

“The Commission decided that the Romanian scheme is necessary and appropriate to accelerate investments in electricity storage facilities, thus contributing to the EU’s strategic objectives related to the green transition. In addition, the Commission concluded that the scheme is proportionate, under the conditions in which the aid will be limited to the necessary minimum and will not have negative effects on competition and trade in the EU. On this basis, the Commission approved the scheme under the EU rules on state aid”, the Community Executive stated in a statement of press.