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.
Two new investment funds active in Romania, Sparking Capital II and PCP SEE II, will receive allocations worth EUR 30 million under the National Recovery and Resilience Plan, or PNRR, after an approval from the Romanian executive and the European Investment Bank. The allocations are mediated by the European Investment Fund, a European financial institution, […]
The net revenues collected by Romania’s tax agency ANAF for the state budget increased by 12.2% in the first six months of 2025 compared to the same period last year, reaching RON 245.2 billion (EUR 49 billion), said outgoing ANAF president Nicoleta-Mioara Cîrciumaru. Nevertheless, the net revenues collected by ANAF are RON 3.8 billion (EUR […]
Romanians continue to place the most trust in the Army and the Church, while Parliament remains the least trusted institution, according to the second edition of the Informat.ro – INSCOP Research Barometer conducted between June 20–26. The monthly survey was commissioned by the news platform Informat.ro in partnership with the Strategic Thinking Group think tank. […]
Romania’s National Meteorological Administration, or ANM, issued on Thursday, July 3, an Orange Code warning for heatwave and heightened thermal discomfort, valid Friday and Saturday, July 4-5, in more than half the country, including Bucharest. The parts of Romania not covered by the Orange Code warning are under a Yellow Code for extremely hot weather. […]
Best Credit IFN announces the strategic partnership with the European crowdfunding platform Bondster, becoming the first Romanian non-banking financial institution (NBFI) to attract international capital through this platform. This initial round of financing marks a milestone in the company’s strategy to diversify its capital sources and rapidly scale its lending capacity in a dynamic market […]
Another 93 searches were carried out at public institutions and private residences on Thursday, July 3, in the case of illegally-obtained Romanian identity documents for citizens of former USSR countries. Earlier this week, Romanian police completed 206 searches in the same case. Prosecutors claim that between 2023–2024, over 1,700 individuals born in the Russian Federation, […]
