The European Commission and European Investment Bank announced Thursday the disbursement of €2.5 billion from the Modernisation Fund to support 51 energy-related projects in 11 EU Member States.
Financed by revenues from the EU Emissions Trading System (EU ETS), today’s disbursement brings the total funding made available from the Modernisation Fund to €23.2 billion since January 2021. The beneficiary Member States of this round of funding are Czechia (€516.8 million), Estonia (€44.8 million), Greece (€233.9 million), Croatia (€109 million), Latvia (€40 million), Lithuania (€169 million) Hungary (€552.3 million), Poland (€180 million), Portugal (€81.4 million), Romania (€636.9 million) and Slovenia (€20.2 million).
“Whether it is for energy efficiency measures in industry, grid modernisation or supporting energy prices by increasing the share of renewable energy or energy storage, the resources generated from polluting activities go towards creating cleaner and more competitive energy systems in the EU,” said EC executive vice-president Teresa Ribera.
The funding will help modernise energy systems by improving energy efficiency in the energy, industry and transport sectors whilst supporting the reduction of greenhouse gas (GHG) emissions. The Modernisation Fund supports the lower-income beneficiary Member States to modernise their energy systems, meet their climate and energy targets, and implement their National Energy and Climate Plans. Today’s disbursement will also contribute to the competitiveness of EU industry by supporting modern, efficient and resilient energy infrastructure, boosting renewable energy generation and storage, fostering innovation and helping to reduce the EU’s imports of fossil fuels.
The 51 successful projects put forward focus on renewable electricity generation, use and deployment of renewable energy sources, the modernisation of energy networks and energy efficiency. Examples include:
- decarbonisation of heat production in district heating systems in Czechia;
- replacement of diesel vehicles with zero-emission electric trolleybuses for public transport in Estonia;
- efficiency improvements of production processes in a number of industrial facilities with high energy-saving potential in Greece;
- electricity grid digitalisation and development in Hungary;
- geothermal energy for district heating in Croatia;
- replacing diesel buses with electric buses and installing the required charging infrastructure in Latvia;
- decarbonisation of industry through energy efficiency and substitution of polluting technologies in Lithuania;
- thermal energy storage in district heating systems and improving the efficiency of multi-family residential buildings in rural areas in Poland;
- energy efficiency programmes for public buildings in Portugal;
- the development of stand-alone battery storage installations of electricity in Romania;
- renewable electricity generation and energy storage capacities as well as modernisation and development of the electricity transmission and distribution network in Slovenia.
Adopted disbursement decisions
Confirmations of priority investments
Recommendations of the Modernisation Fund Investment Committee
