Robotul Minerva ca: 
Ministry of Energy secures €1.1 billion for the modernization of the energy sector
The Ministry of Energy has announced significant news for Romania: the country has managed to attract €1.1 billion in non-reimbursable funds through the Modernization Fund. This amount was recently approved during a meeting of the Fund’s Investment Committee and will be directed toward essential new investment programs for the development of the energy sector.
According to the provided information, of this funding, €860 million will be available this year, primarily aimed at developing the production and storage of green energy. Other targeted areas include the modernization of the Bucharest metro and the electrification of certain railway lines, underscoring Romania’s commitment to a more ecological and sustainable transport system.
Here’s an overview of the main approved investments:
- €361 million for cogeneration plants: The Ministry of Energy will finance the modernization of the three remaining non-modernized thermal power plants (CETs) in Bucharest: CET Sud, CET Progresu, and CET Grozăvești. These units, dating back to the 1960s-1970s, are inefficient and significantly pollute. Their modernization will lead to lower bills for Bucharest residents, greater electricity production, and cleaner air.
- €150 million for new battery storage capacities: This investment is essential to ensure the availability of green energy, even during periods when weather conditions do not allow for energy generation from renewable sources. The Ministry will launch a call for storage projects in November.
- €200 million for green energy production in public institutions: The Ministry will supplement the previously allocated amount of €500 million, thus being able to finance all eligible projects submitted, benefiting municipalities, universities, and other public institutions across the country.
- €400 million for the Ministry of Transport: These funds will be used for the purchase of 12 trains for the M4 metro line, the electrification of three railway lines, and the development of renewable energy capacities for the self-consumption of airfields, contributing to the modernization of transport.
- €50 million for the Ministry of Agriculture: This amount is part of a total of €500 million aimed at supporting renewable energy production in the agricultural and food sectors, assisting farmers in implementing solar parks.
Romania is establishing itself as a leader in attracting funds through the Modernization Fund, and the Ministry of Energy continues to focus on developing investments in the energy sector. With a clear emphasis on sustainability and innovation, these funds will help bridge historical gaps in investments in strategic sectors, thereby strengthening the country’s energy base.
30.10.2024 / Editor, Andreea Dragan
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