Ministry of Energy: 24 financing contracts through the Modernization Fund for investments in renewable energy and energy storage

The Minister of Energy Sebastian Burduja signed 24 financing contracts within the call financed through the Modernization Fund to support investments in new production capacities of electricity from renewable sources for self-consumption for public entities.

The total value of the financed projects is 68 million lei (13.6 million euros). The total amount of financing from the Modernization Fund is 62.1 million lei (12.4 million euros), and the total installed capacity is 9.5 MW.

“By signing these 24 new financing contracts, we reconfirm our commitment to the development of new renewable energy production capacities in Romania. These projects will not only contribute to increasing green energy production capacity but will also bring significant benefits to local communities by reducing bills for local public institutions, ensuring energy autonomy and protecting the environment.

These investments are essential to build a sustainable future and ensure the transition to a green economy. From the beginning of my mandate, we chose to prioritize investments from the PNRR and the Modernization Fund. They are not effects that will be felt in a short time, but in the medium and long term, these new production capacities will help to acquire energy independence in our country, will ensure a cleaner environment and reduce the price of energy from Romanians’ bills. We will continue to support such initiatives and invest in Romania’s energy future”, said the Minister of Energy, Sebastian Burduja.

Among the 24 beneficiaries of funding from the Modernization Fund are the Ovidius Constanța University, the National Institute for Research and Development in Construction, Urbanism and Sustainable Territorial Development “URBAN-INCERC”, the Slobozia City Hall, the Hațeg City Hall and the town halls of 20 communes from the counties of Iasi, Cluj, Hunedoara, Tulcea, Ilfov, Timiș, Suceava, Olt, Mureș, Constanța, Arad and Neamț.