Romania Secures Record 3 Billion Euros from Modernization Fund for Green Energy

Romania has achieved a significant milestone by becoming the first country in the European Union to access funds from the Modernization Fund to support the contracts for difference scheme. This record amount of 3 billion euros will bolster investments in green energy production, leading to a more sustainable future for the country.

The effects of this achievement are expected to be far-reaching. Not only will Romania see an increase in green energy production, but it will also lead to cleaner air and, importantly, fairer prices in Romanian households' energy bills.

During a press briefing on April 4, Minister of Energy of Romania Sebastian Burduja outlined how this support scheme will work. The scheme aims to deliver an additional 5000MW of energy to the national energy system, with 2500MW coming from solar energy and 2500MW from wind energy.

This initiative marks a significant step forward in Romania's commitment to transitioning to a more sustainable energy sector and reducing its carbon footprint.

Source: ibcentre