Ministry of Energy announces 1.4 billion Euro financing for strategic projects in the energy sector

The Investment Committee approved on Thursday, April 7, the amount of approximately 1.4 billion euros to finance, from the Modernization Fund, important projects for the modernization of the Romanian Energy field, according to the data transmitted by the Ministry of Energy.

“In the next period, we will also approve the GEO regulating the institutional framework and financial flows for the operationalization of the Modernization Fund. We will continue to make investments so that in the next period Romania will become energy independent,“ said Virgil Popescu, Minister of Energy.

– 8 projects submitted by the CEO for the production of energy from renewable sources, in a total amount of 670,802,780,060 euros, of which 469,561,946,000 euros from the Modernization Fund:

1. Construction of a photovoltaic park on the Bohorelu dump – UMC Jilt
2. Construction of a photovoltaic park on the Pinoasa quarry – UMC Pinoasa quarry
3. Construction of a photovoltaic park on the Rovinari Est dump
4. Construction of a photovoltaic park on closed ash and slag deposits in SE Isalnița
5. Construction of a photovoltaic park on closed ash and slag depots in SE Rovinari
6. Construction of a photovoltaic park on closed ash and slag depots in SE Turceni
7. Construction of a photovoltaic park on the inner dump within the Tismana 1 quarry – Rosia-Rovinari
8. Construction of a photovoltaic park on the inner dump within the Tismana 2 – Roșia – Rovinari quarry

– Another 2 CCGT projects for CEO, respectively Isalnița in a total amount of 506,250,603 euros, of which 253,125,302 euros from the Modernization Fund, and Turceni, in a total amount of 335,009,630 euros, of which 167,504,815 euros from the Modernization Fund.

– Projects submitted by Transelectrica in a total amount of 475,510,339.45 euros, of which 393,674,931.94 euros from the Modernization Fund.

• 400 kV OHL Gădălin-Suceava
• Switching to the 400 kV voltage of the Portile de Fier – Reșița – Timișoara – Sacalaz – Arad axis. Stage II
• Switching to the 400 kV voltage of the Iron Gates – Resita – Timisoara – Sacalaz – Arad axis. Stage III
• Switching to 400 kV LEA Brazi Vest – Teleajen – Stâlpu
• Pilot project – Refurbishment of Alba Iulia Station as a digital station
• Installation of two modern means of compensating the reactive power in Sibiu Sud and Bradu stations
• Optimization of the operation of the existing 400 kv OHL in SEN, used in interconnection and for power evacuation from the Cernavoda nuclear power plant and the renewable energy power plants in Dobrogea, by installing on-line monitoring systems (SMART GRID type)
• Wholesale metering and data management system for electricity metering

Funds have also been approved for the modernization of electricity distribution networks, amounting to a total of 1.2 billion euros, of which over 100 million euros will be allocated this year.