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 and modernization of 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.
“Romania received a first tranche of 1.095 billion euros for investments in the development of energy distribution networks, the rehabilitation/modernization of heating networks, the natural gas transport network, as well as investments in energy-efficient rolling stock. Also, the amount also 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”, notes the institution.
According to the quoted 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).
“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 the development of new energy capacities is huge, that is why my mandate remains: investments, investments, investments. In the 12 months of the mandate at the Ministry of Energy, investments for the energy system through the Modernization Fund have exceeded 25 billion. We are continuing at the same pace. We are focusing on promoting the calls already launched through The Fund for Modernization and PNRR for self-consumption, storage in batteries, rehabilitation of the electricity network, modernization of the heating network and modernization of CETs, but also on the start of new calls through which we offer the opportunity to the private and public environment to obtain financing for the implementation of some projects of energy efficiency, as well as the launch of the scheme for contracts for difference (CFD)”, said the Minister of Energy, Sebastian Burduja, according to Agerpres.
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 determined 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.