Romania has received, via the European Union's Modernisation Fund, a first disbursement worth almost EUR 1.1 billion for investing in the development of energy distribution networks, rehabilitation/modernisation of district heating networks, natural gas transmission network, as well as investment in energy-efficient rolling stock, according to a press release of the Ministry of Energy issued on Tuesday.The amount also includes funds for future projects established under contracts for difference. Romania has been allotted the largest share now, 37% of the total disbursement.The other member states benefitting from the first disbursement of 2024 are Bulgaria (EUR 65.2 million), Croatia (EUR 52 million), Czechia (EUR 835.2 million), Estonia (EUR 24.1 million), Hungary (EUR 76.8 million), Latvia (EUR 26.8 million), Lithuania (EUR 59 million), Poland (EUR 697.5 million), and Slovakia (EUR 35 million)."The Modernisation Fund is an essential instrument for Romania's green transition and the modernisation of its national power grid. I have committed myself from the very beginning to putting these financings to work, launching programmes and state aid schemes, funding much-needed investment. Through the efforts of the team at the Ministry of Energy and the Romanian government, Romania is emerging as the main energy player in the region. The payment made today by the European Commission confirms that Romania's potential in developing new energy capacities is huge, which is why the motto of my tenure remains: investment, investment, investment. In the 12 months of my term of office at the Ministry of Energy, the investment financed for the energy system via the Modernisation Fund and the National Recovery and Resilience Plan (PNRR) exceeded EUR 25 billion. We are continuing at the same pace. We are focusing on promoting the calls already launched via the Modernisation Fund and PNRR for own-consumption, battery storage, electricity network rehabilitation, modernisation of the district heating network and, but also on starting new calls offering the opportunity to the private and public sectors to win funding for the implementation of energy efficiency projects, as well as on the release of a Contracts for Difference (CFD) scheme," Energy Minister Sebastian Burduja is quoted as saying in the release.The Ministry of Energy also announced that it is preparing the launch of the first tender for Contracts for Difference. The last details will be soon established for sharing the funds allocated for investment in wind and solar energy, depending on the existing portfolio of projects funded under the National Recovery and Resilience Plan (PNRR) and the Modernisation Fund.The Modernisation Fund supports investments in the generation and use of energy from renewable sources, energy efficiency, energy storage, modernisation of energy networks, including district heating, pipelines and grids, and just transition in carbon-dependent regions.
The final version of Romania's national defence strategy 2025-2030, as amended following the public consultations and approved by the members of the Supreme National Defence Council (CSAT), is to be presented by president Nicusor Dan in Parliament, where it will be debated and voted on by lawmakers. The Romanian state must be prepared to manage […]
The 5 to go coffee chain, including over 650 units nationwide, is expanding its service portfolio through a partnership with Fibula Air Travel tour operator, for which it will distribute tourist packages, Ziarul Financiar reported. Fibula Air Travel has a significant presence in the markets...
The French group Groupe Atlantic is set to inaugurate the factory in Ariceştii Rahtivani, Prahova County, in the coming weeks, a greenfield investment of over EUR 50 million, announced Ziarul Financiar. So far, about EUR 40 million has been invested, and the remaining EUR 10 million is planned by the end...
Fondul Proprietatea (FP), as a minority shareholder (20%) at Bucharest Airports Company (CAB), proposed that the company could issue, under an IPO at Bucharest Exchange (BVB), a number of shares equal to half of its current shares, to finance the construction of a new terminal. The operation would preserve the state's majority position and generate […]
Sales of the Dacia Sandero model were the highest in Europe in October, although the volume was slightly lower than a year ago. The Romanian model managed to surpass its main rivals, the Clio and the T-Roc, according to Profit.ro. The Sandero is mainly built in Morocco, where...
The macroeconomic confidence index compiled by Romania's CFA Society association of analysts, based on a survey among its members, plunged sharply by 7.3 points to 30.2 points, with the current conditions (32.3 points) only marginally superior to the expectations (29.2 points). The current conditions are at a historic low level, while the analysts have shared […]
