Romania gets green light for EUR 1.1 bln grants to finance energy projects under Modernization Fund
The Ministry of Energy announced it obtained, on the sidelines of the meeting of the Investment Committee of the Modernization Fund (MF) on October 22 in Budapest, the non-refundable financing for all six priority investment proposals submitted, in the total amount of EUR 1.1 billion.
Out of this, EUR 860 million will be disbursed to Romania by the end of the year, according to Economedia.ro.
According to a press release from the ministry, the six investments that will benefit from financing represent three state aid schemes initiated by the Ministry of Energy, two individual projects, and a state aid scheme supported by the Ministry of Transport and Infrastructure.
The Ministry of Energy will finance, within the framework of two state aid schemes (EUR 350 million), investments in new production capacities of electricity produced from renewable sources for self-consumption for public sector applicants (RES-UAT) and also in the development of storage capacities of electricity (batteries).
Some EUR 362 million will be allocated to investments in the development of flexible gas production capacities for the production of electricity and thermal energy in high-efficiency cogeneration (CHP) in the district heating sector.
The Ministry of Transport and Infrastructure will finance, also through the Modernization Fund, 3 investments with a total value of EUR 300 million, aimed at the purchase of 12 trains for the M4 subway line, the electrification of 3 railway lines, and a state aid scheme for new electricity production capacities produced from renewable sources for self-consumption of airfields, including energy storage systems.
The Ministry of Agriculture and Rural Development received approval for a second payment, in the amount of EUR 50 million, related to the State Aid Scheme regarding the support of investments in new electricity production capacities from renewable sources for the self-consumption of enterprises in the agricultural sector and the food industry.
iulian@romania-insider.com
(Photo source: Ruletkka/Dreamstime.com)
