Romanian companies have EUR 800 mln grants for green energy projects

Romanian companies have EUR 800 mln grants for green energy projects

The Romanian companies will be invited to apply for grants under the Modernization Fund in a total amount of EUR 815 million for investments in green energy projects, to increase the energy efficiency of their factories, or for new renewable energy production units, according to REI, the consultancy firm specialized in European funds and state aid, quoted by Ziarul Financiar

The budget includes EUR 560 million for the installation of photovoltaic panels and EUR 255 million for other green energy generation projects, such as wind or hydro. 

In January, the Ministry of Energy published the advisory guidelines for two separate calls: self-consumption and green energy production. The former scheme envisages 85% (EUR 360 million) for PV installations, EUR 30 million for wind farms, and EUR 25 million for hydro generation capacities. The latter scheme envisages EUR 200 million for PV installations and EUR 100 million each for wind and hydro.

„Factories, retailers, and other consumers cannot miss this opportunity in the context in which the deadline for the end of energy price capping is approaching. We are in talks for large and very large projects, and we are convinced that the money from the sale of CO2 certificates can put Romania on the map of the major renewable energy producers in Europe,” said Roxana Mircea, managing partner of REI Grup.

The Modernisation Fund is financed by revenues from auctioning emission allowances under the EU Emissions Trading System.

Eligible applicants, in the case of both calls, can be startups, micro-enterprises, SMEs, but also large enterprises, and an investment project will benefit from a maximum of EUR 20 million per project.

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