The European Commission has announced
\nthat in its second year of operation the Modernisation Fund disbursed a
\ntotal EUR 4.11 bln in support of 61 projects in 8 beneficiary countries.<\/p>\n
<\/p>\n
\n
<\/p>\n
Romania received the largest amount, nearly one-third
\nof the total-EUR 1.39 bln. The project financed in Romania is aimed at building
\n8 photovoltaic parks and 2 power plants, as well as at upgrading the country’s
\nenergy networks. <\/p>\n
<\/p>\n
\n
<\/p>\n
Payments have also been made to Croatia, Czechia,
\nEstonia, Hungary, Lithuania, Poland and Slovakia. According to the EC, the
\nModernisation Fund is designed to support EU member states with
\nlower revenues in their clean energy transition. The projects will contribute
\nto the modernisation of energy networks, to reducing greenhouse emissions in
\nthe energy sector, industry, transport and agriculture, and to improving energy
\nefficiency. <\/p>\n
<\/p>\n
\n
<\/p>\n
The support provided to these investments, the
\nCommission says, will help the beneficiary member states to reach their
\nenvironment and climate targets for 2030 and to step up the EU’s green
\ntransition. <\/p>\n
<\/p>\n
\n
<\/p>\n
Last year, the Fund disbursed nearly EUR 900 mln to 8
\nbeneficiary countries, and complemented other EU financing instruments like
\nthe Cohesion Policy and the Just Transition Fund. The Modernisation
\nFund operates under the responsibility of its beneficiary countries, in
\nclose cooperation with the European Commission and the European Investment Bank.
\n<\/p>\n
<\/p>\n
\n
<\/p>\n
For the next investment cycle, countries may submit
\ninvestment proposals in order to obtain assistance from the Modernisation Fund
\nby 19th January 2023 for non-priority proposals and by 16th
\nFebruary 2023 for priority proposals. <\/p>\n
<\/p>\n
\n
<\/p>\n
For Romania, next year’s main challenge will be
\nrelated to the spending of EU funds, including those under the National
\nRecovery and Resilience Plan ,where 41% of the EUR 29 bln earmarked to
\nthe country will be channelled into the green energy transition. <\/p>\n
<\/p>\n
\n
<\/p>\n
The head of the Romanian Investors Association
\nCristian P\u00e2rvan says the top concern for the business community and
\npolicy-makers should be the accessing of EU funding, by reaching the benchmarks
\nand targets undertaken under the Recovery and Resilience Plan and by
\nsubmitting, selecting and funding viable projects: <\/p>\n
<\/p>\n
\n
<\/p>\n
Cristian P\u00e2rvan: The business community is trying to
\nmake progress in its mission and obviously to make profits. But it is facing
\nlots of challenges, from those in the energy sector to those related to
\nworkforce, and to the fact that for the time being the European economic
\nsolidarity is just an aspiration, rather than translating in pan-European
\nprojects. <\/p>\n
<\/p>\n
\n
<\/p>\n
Cristian P\u00e2rvan also says that a firm, coherent and
\ntargeted policy may take Romania to a higher development level. (AMP)<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
The European Commission transferred EUR 1.39 bln to Romania from the Modernisation Fund<\/p>\n","protected":false},"author":107,"featured_media":74277,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[28918,29120,36084,36079,40747,40746,31162],"coauthors":[],"class_list":["post-94161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-energy","tag-eu","tag-fund","tag-green","tag-modernisation","tag-renewables","tag-transition"],"acf":[],"yoast_head":"\n