August 27, 2025
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Romania considers launching new wind auctions

After completing the second round of wind and solar power auctions, Romania’s Ministry of Energy is considering launching new bidding for renewable energy projects, specifically onshore wind.

The Ministry of Energy has issued a call for expressions of interest for a third auction under the State Aid Scheme, in the form of contracts for difference (CfD), for electricity generation from onshore wind energy.

Given the results of the recently organized tendering for the award of CfDs, as well as the provisions of Government Decision 318/2024, the conditions stipulated in the State aid Scheme authorized by the European Commission Decision C (2024) 1596 final, the ministry is exploring the possibility of launching an additional tender, dedicated exclusively to onshore wind technology, according to the call.

All auction rules will be similar to those approved for the last CfD auction

The tender is to be completed by December 31, 2025, by which time the related contracts are to be signed, according to the update.

The ministry pointed out that all auction rules will be similar to those approved for the last CfD auction.

The expressions of interest should include projects that have recently reached or are about to reach a stage of maturity that would allow them to participate in the tender; projects that could not be submitted in the previous tender due to insufficient time to obtain corporate approvals, including to ensure the necessary sources of financing to cover the obligations regarding the participation/good execution guarantee.

Expressions of interest are to be submitted by August 29

The wind capacity to be auctioned will be determined following an analysis conducted by the ministry, based also on the expressions of interest received, provided that sufficient interest is expressed. Expressions of interest must be submitted by August 29.

Two weeks ago, the ministry and transmission system operator (TSO) Transelectrica conducted the country’s second wind and solar power auction for government support in the form of CfDs.

A total of 2 GW was available for wind, but the authorities selected only 1.26 GW under 23 qualified projects – those with bids below the ceiling of EUR 80 per MWh.

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August 18, 2025
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North Macedonia’s draft law envisages renewable energy auctions for CfDs

North Macedonia drafted the Law on the Use of Energy from Renewable Sources to facilitate a decrease in fossil fuel consumption and a rise in the share of green energy. The legislation introduces market premiums under two-way contracts for difference (CfDs), which would be approved through renewable energy auctions. It also regulates net metering and net billing for prosumers and defines renewable energy communities.

The Ministry of Energy, Mining and Minerals of North Macedonia called on citizens, experts and stakeholders to submit opinions and proposals for the draft Law on the Use of Energy from Renewable Sources. It will regulate the segment separately for the first time, “following the example of a large number of countries in the region and the EU,” the statement adds.

The public debate lasts until August 30. According to the ministry, the most significant novelty is the two-way contract for difference (CfD). It is defined in Macedonian as contract for market settlement of the price difference. The bill envisages awarding such market premiums through renewable energy auctions.

It is a mechanism that guarantees financial stability for renewable energy producers and protects consumers from extreme price fluctuations, the ministry argued. The draft is fully aligned with the European Union’s energy legislation including the Renewable Energy Directive (RED3), the update adds.

Basis for renewables deployment in heating, cooling, transportation

The proposed measures aim to lower the use of fossil fuels and grow the share of renewables in gross energy consumption, the ministry added. They facilitate support for long-term investments and faster deployment of renewable energy in heating, cooling and transportation, it underscored.

Guarantees of origin of electricity are included in the bill, together with a framework for international cooperation and energy markets.

The draft establishes the basis for the establishment of renewable energy communities of citizens and companies and other legal entities such as local authorities. The scope also involves net metering and net billing for prosumers – “consumers-producers.”

Multiapartment structures can become prosumers with units up to 50 kW

While the ministry earlier said it would raise the upper capacity limit for prosumers in the segment of households to 10 kW, the ceiling in the draft law is 10.8 kW for individual homes and 50 kW for multiapartment structures. The draft also introduces the collective prosumer, a group of citizens and commercial entities residing in the same building or apartment complex.

Prosumers with units up to 16 kW would be in the net metering mechanism. Net billing is for 16 kW to 50 kW, and larger facilities are envisaged for a commercial supply scheme.

Notably, prosumers operating power plants of over 300 kW are obligated to cover the balancing expenses, the text reads.

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August 15, 2025
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Romania completes second round of renewable energy auctions – third of wind quota unallocated

Companies that participated in the second round of auctions in Romania for contracts for difference (CfDs) for wind and solar power projects received the ranking list. The target quota for photovoltaics was slightly surpassed, with 1.49 GW approved. Conversely, only 1.26 GW was allocated in the wind project segment, against the available 2 GW. Average winning prices were EUR 40.35 per MWh and EUR 73.89 per MWh, respectively.

Winners include Rezolv Energy’s Dama Solar, which at 1.04 GW in total would currently be by far the largest PV system in Europe, excluding Turkey.

Romania’s Ministry of Energy and transmission system operator Transelectrica have conducted the country’s second wind and solar power auctions for government support in the form of CfDs. They imply fixed prices for beneficiaries for 15 years. If the producer sells its electricity in the market at a higher price, the government receives the difference. It works the other way around as well. The average winning price for wind power was EUR 73.89 per MWh, compared to EUR 40.35 per MWh for photovoltaics.

There was 2 GW available for wind power projects, but the authorities selected only 1.26 GW, within 23 qualified projects. It means their bids were lower than the ceiling of EUR 80 per MWh. Romanian media learned most of the details, while the official report is yet to be issued.

Rezolv, OX2, OMV Petrom, among winners in wind power segment

In the wind power auction, the participants secured less than two thirds of the quota. There are 23 projects of 21 companies on the list, with 1.26 GW accepted overall of the available 2 GW.

Midmar Callatis passed with the lowest bid, EUR 65.17 per MWh, for the Dunărea East project in Constanța county. The entity, controlled by Rezolv Energy, is eligible for a CfD for 211.2 MW. It is the largest proposed capacity that participated in the auction. The Dunărea East and West project is for 600 MW altogether.

The firm signed the grid connection contract last year. It expects to complete the wind park in 2030, to meet the deadline, like almost all other auction winners in both segments.

OX2 has split its project and won three contracts

The second winner by size is the Cerchezu wind power project. The owner, OX2, has split it into chunks, so 128 MW, 25.6 MW and 25.6 MW earned entry into the market incentives scheme. The special purpose vehicle (SPV), called South Wind, has bid EUR 69.87 per MWh, EUR 74.5 per MWh and EUR 76.5 per MWh, respectively, for a combined capacity of 179.2 MW.

Coming in third in terms of selected capacity, with 111.6 MW, is the future Poiana wind power project. The developer is Green Labs, which operates under Electrocentrale Borzești, part of the Renovatio group, under OMV Petrom.

Through its project firm CEF Pelicanu, Renovatio also won a CfD for 103.7 MW for its Alexandru Odobescu project. It bid EUR 76.9 per MWh.

Winning prices in second wind power auction higher amid demand drop

Ecoener Carpatica’s Miroslovești project in Iași county can sign a contract for 54.4 MW, at a price of EUR 68.75 per MWh. The Urleasca project passed with EUR 71.93 per MWh for 31 MW.

Eurowind Energy’s Cheap Energy Company was successful with a bid of EUR 78.5 per MWh for the Pecineaga Northeast (Nord Est or NordEst) endeavor. It applied for 48 MW.

Engie Romania passed with its Falcon wind power project

Falcon Wind of Engie Romania secured a CfD for 52.4 MW with a price of EUR 72.7 per MWh. It was the first under the line in the first round, with a bid that was EUR 5 higher. The location is in Mereni in Constanța county.

The accepted prices in the wind power auction are between EUR 65.17 per MWh and EUR 79.5 per MWh, compared to a range of EUR 54.59 per MWh to EUR 77.33 per MWh in the first round.

Accepted bids for solar power projects significantly lower than in first round

Conversely, solar power prices were much lower than last time. They landed at EUR 35.77 per MWh to EUR 45.2 per MWh, against a range of EUR 45.05 per MWh to EUR 54.19 per MWh in December. This time, the ceiling was EUR 73 per MWh. The commission accepted 26 bids of 1.49 GW in total, extending the quota by 16 MW.

The largest capacity, 520 MW, was awarded to special purpose vehicle West Power Investments for its Dama Solar project. It is for 1.04 GW in total peak capacity, which would make it the biggest solar power plant in Europe excluding Turkey. Rezolv Energy developed the project, together with Monsson. It won the incentives through two equal lots, with bids of EUR 42.2 per MWh each, on a rounded basis.

Enery Element gets almost 460 MW for its two PV projects

Other companies also partitioned their projects for the auction. Enery Element won 11 out of the 26 contracts, for its proposed Baboia PV plant, also called Ogrezeni. The bids were between EUR 35.77 per MWh and EUR 42 per MWh.

In the previous round, it failed to make the quota with EUR 56.82 per MWh. The combined capacity is 350.1 MW. According to Economica.net, the developer may have opted for splitting the PV plant to avoid surpassing the 50-hectare threshold per lot. The Ogrezeni project in Giurgiu county is for more than 500 MW overall, the media outlet noted.

The company also succeeded with four lots of its Dumbrava 2 project. Enery Element’s subsidiary Siret Solar Plant has bid EUR 38.76 per MWh to EUR 38.79 per MWh. The combined capacity is 108.6 MW.

Engie Romania is now eligible for a CfD for 170 MW in peak capacity, for its proposed Cornățelu photovoltaic facility. Its bid was the highest on the list, EUR 45.2 per MWh. The site is in Dâmbovița county

Of note, the government has so far signed contracts with 21 firms that won in the first solar and wind power auctions.

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August 7, 2025
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WindEurope urges Germany to drop negative bidding in wind auctions, switch to CfDs

Germany’s second offshore wind auction in 2025 failed to attract bids from developers, sending a clear signal that the country’s wind auction design, which relies on negative bidding, is not fit for purpose, WindEurope has warned. Instead of swimming against the tide, Germany should follow in the footsteps of other European countries and switch to contracts for difference (CfDs), according to the European wind industry association.

The auction covered two offshore wind sites in the North Sea with a combined capacity of 2.5 GW, but no developer placed a bid. That should be a wake-up call for the German government, according to Viktoriya Kerelska, Director of Advocacy & Messaging at WindEurope.

In negative bidding, developers offer the amount of money they are willing to pay for the right to build a wind farm, with the highest bid most likely to win. In the CfD model, on the other hand, they bid the electricity price they need, and receive compensation from the government if the market price falls below that level.

Kerelska: Negative bidding reduces the number of companies willing to participate in auctions

Negative bidding does not offer any revenue stabilization and exposes bidders to risks that go beyond their control. The uncapped negative bidding further intensifies the financial pressure on offshore wind developers by asking them to pay high sums for the right to develop an offshore wind farm, according to WindEurope.

“Negative bidding adds costs that make offshore wind more expensive and reduces the number of companies willing and able to participate in auctions,” Kerelska stated, adding it is time to amend the auction model so Germany can deliver on its offshore wind targets and industrial competitiveness.

Wind energy provides 30% of all electricity consumed in Germany, making it crucial for ensuring competitive prices for households and industry as well as energy security, WindEurope noted.

CfDs ensure lower financing costs and more predictable revenues

Most countries in Europe have introduced two-sided CfDs as a revenue stabilization mechanism for offshore wind development. It ensures lower financing costs and more visibility on future revenues, WindEurope said, noting that Denmark was the latest country to switch to CfDs after its 3 GW negative bidding offshore wind tender failed to attract any bids last December.

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August 1, 2025
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EDP Renewables sells wind farms in Greece to Enel-Macquarie joint venture

Principia agreed to acquire all four EDPR’s wind power plants in Greece. The joint venture of Enel and Macquarie Asset Management’s funds is nearing 800 MW in renewable energy and battery storage capacity in the country.

Principia, owned equally by Italy-based Enel and funds managed by Macquarie Asset Management, headquartered in Australia, is strengthening its presence in Greece with a purchase of four wind farms. EDP Renewables is selling the facilities to the firm after reportedly deciding to exit the country.

The joint venture, which expects to close the transaction later this year, revealed that the estimated enterprise value exceeds EUR 200 million. The measure can include debt and some other items. The takeover is adding 149.6 MW to its operational capacity, which would reach 727 MW, from 70 power plants. Wind power accounts for 517.8 MW.

With the purchase, Principia will operate a total of 517.8 MW in wind power capacity.

“The acquisition of this portfolio strategically strengthens Principia’s presence in the Greek renewable energy market, in a constantly evolving environment, and reaffirms a role of leadership in the country’s energy transition. With this investment, we further reinforce our position in the Greek clean energy market and take another step toward delivering on our ambitious plan for growth, diversification, and reliable clean energy generation across Greece,” Principia’s Chief Executive Officer Aristotelis Chantavas said.

All four wind farms operate within CfD scheme

All four wind farms are operating under 20-year contracts for difference (CfDs). Livadi (45 MW) and Erimia (35 MW) are in Malesina, Phthiotis. Wind power plants Xironomi (36 MW) and Chalcodonio (33.6 MW) were commissioned this year. They are located in Boeotia, Central Greece, and Magnesia, Thessaly, respectively.

Newmoney learned, without revealing its source, that Terna Energy, ENI Plenitude, HELLENiQ Energy and some investment funds also participated in the process, interested in the portfolio. The acquisition will lift Principia by one notch to become third among the largest wind farm operators in the country, the article adds.

Principia aims to complete construction of 49 MW battery system by year-end

Principia has another 230 MW under construction or in the ready-to-build stage, and 5.6 GW more in various stages of development.

It is building a battery energy storage system (BESS) of 49 MW in Polygyros, in the Halkidiki peninsula. It won government support at Greece’s second energy storage auction.

The Paleolivada facility is due to come online before the end of the year. Construction began in March. It will have 98 MWh in guaranteed capacity, versus 127 MWh installed.

The firm has a mature project for a hybrid power plant of 111 MW and 70 MW of solar power capacity. The site is in Atherinolakos, in Sitia in the south of Crete.

Principia inaugurated a photovoltaic cluster of 95 MW in May. The Perasma facility, near the villages of Mavrodendri and Sidera, is set to generate 126.8 MW per year. It comprises seven units and 170,000 bifacial panels.

Macquarie Asset Management agreed to buy 50% of Enel Green Power Hellas in 2023.

Of note, EDP Renewables (EDPR) is headquartered in Spain, but traded on the Euronext Lisbon stock exchange. It is a subsidiary of EDP.

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July 31, 2025
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Production starts at new 38.4 MW wind farm northeast of Bucharest

Eximprod, which installed the first wind turbine in Romania more than two decades ago, delivered the first megawatt-hours to the grid from its new wind farm in the country’s east. In addition, it is about to receive a commercial operating license for a 49.5 MW solar park in Prahova county.

Several other wind parks are also under construction amid a revival in investments in Romania. Rezolv recently secured financing for phase 2 of its Vifor wind power plant, set to become one of the largest in Europe.

Romania has been enjoying a solar power boom for the past three years, and the pace of the construction of battery energy storage facilities (BESS) is accelerating. On the wind energy front, the country’s capacity has barely held above 3 GW for a long time after the 3.24 GW peak in 2014, due to the failure of an incentives mechanism. But the investment momentum is strengthening – notably, Eximprod said it launched the operation of its 38.4 MW wind power plant in the Galați area.

The company actually installed the first wind turbine in Romania. In 2003, it put online the Vestas V 47 machine of 660 kW in Topolog in Tulcea County in the country’s east.

Eximprod Group (EPG) also provides equipment and services in the energy sector. The company’s contractor Lemacons poured concrete less than half a year ago for the foundation of the first wind turbine in the new Cudalbi 2 facility. It is located in Galați county in eastern Romania, in the Western Moldavia region.

Eximprod received support through National Recovery and Resilience Plan

Cudalbi 2 is the first wind park in the country with Enercon turbines in 12 years. The model is E-160 EP5 E2, of 5.5 MW. Eximprod has won state support for the project northeast of Bucharest via the National Recovery and Resilience Plan (NRRP or, in Romanian, PNRR). The funds are approved under the European Union’s Recovery and Resilience Facility (RRF).

The company has also built the nearby Cudalbi 1 wind farm of 54 MW, consisting of nine turbines.

In addition, Eximprod is about to receive the commercial operating license from National Energy Regulatory Authority (ANRE) for its Solar System Project photovoltaic plant. It completed the facility with 49.5 MW in connection capacity in April. According to its documentation, the facility has 65 MW in peak capacity. It consists of five units with grid connections of 9.9 MW each.

The solar park is in Ciorani, Prahova county, north of the capital city. The endeavor was reportedly worth EUR 56.2 million including a grant of EUR 13.4 million from the NRRP. The company plans to add a BESS unit of 21 MW in operating power. The said final permit will allow the project firm to sell electricity.

Lenders indicate confidence in Romania’s wind power market with financing package for Vifor

In other recent news, Rezolv secured a EUR 331 million financing package for the 269 MW second phase of its Vifor wind farm in Buzău county. It includes EUR 44 million from the European Bank for Reconstruction and Development (EBRD).

Erste Group, UniCredit Group, International Finance Corp. (IFC), Intesa Sanpaolo Group, OTP Bank and Raiffeisenlandesbank Niederösterreich-Wien all participate in the arrangement.

The Vifor wind park would consist of 72 turbines of 6.4 MW each

The first part of Vifor is under construction and scheduled for commissioning in the spring. Rezolv plans to complete phase two in late 2027.  The wind park would be one of the biggest in Europe, at 461 MW. The company is installing 72 Vestas V162 turbines of 6.4 MW.

Rezolv won a contract-for-difference (CfD) at the country’s first renewable energy auctions for phase 2, for 240 MW. The government approved 1.1 GW for wind power. The qualifications phase is ongoing for the second round of auctions, for 2 GW for wind park projects and 1.47 GW for photovoltaics.

Several wind farms under construction

According to the International Renewable Energy Agency (IRENA), Romania had just under 3.1 GW in wind power capacity in operation at the end of 2024.

Eurowind Energy built the turbines earlier this year at its Pecineaga wind park. Greece-based Public Power Corp. (PPC) is supposed to connect its Deleni facility to the grid before the end of the year.

OX2 is building the Green Breeze wind farm as the turnkey contractor for the investor, Nala Renewables.

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July 16, 2025
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R. Power Renewables to start construction of 55 MW PV project in Romania

Polish company R. Power Renewables is about to build a solar power plant in Romania of 55 MW in peak capacity.

R. Power Renewables published the main details ahead of the start of construction of its Lazuri Solar Park, located in Satu Mare county in Romania.

The company said it is a major step forward in its commitment to expanding sustainable energy infrastructure in Central and Eastern Europe.

The works are set to begin before the end of September, according to the update. The facility is scheduled to come online in the third quarter of 2026.

The Lazuri Solar Park will be connected to the national grid through a newly constructed 110 kV switching station

The Lazuri Solar Park will be connected to the national grid through a newly constructed 110 kV switching station, implementing a loop-in/loop-out connection on the existing Vetiș–Abator 110 kV overhead transmission line, according to R. Power Renewables.

The project will not only contribute to Romania’s renewable energy targets but also strengthen local energy security and grid resilience, the Warsaw-based company underlined.

The solar farm of 55 MW in peak terms would generate approximately 70 GWh of clean electricity per year — enough to meet the annual needs of over 48,000 households and avoid nearly 17,000 tonnes of CO2 emissions.

Lazuri is one of five R. Power’s solar farms in Romania that secured a 15-year power purchase contract

Lazuri is one of five R. Power’s solar power projects in Romania that secured 15-year contracts-for-difference (CfDs) through the national auction scheme, the firm said and added that in total, it won support for 85 MW of installed capacity.

In December 2024, after years of delays, the Ministry of Energy finally selected projects of an overall 1.53 GW, slightly more than the quota, in the first round of auctions.

Wind and solar power projects are eligible for subsidies under the CfD scheme. The first round of auctions resulted with ten and eleven winning bids, respectively.

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July 16, 2025
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Montenegro sets November 10 deadline for first solar power auction

Legal entities and entrepreneurs in Montenegro are preparing to compete for market premiums with their solar power projects. The quota for the first such auction in the country is 250 MW, and applications close on November 10.

Following the completion of the legal framework with laws and decrees, the Montenegrin Ministry of Energy and Mining issued a public call for investors to participate in an auction for market premiums with their solar power projects. The government would provide support for 12 years.

Legal entities and entrepreneurs have until November 10 to send the envelopes with bank guarantees, documents proving that they are qualified, and their financial bids. The address is: Ministarstvo energetike i rudarstva, Rimski trg 46, 81000 Podgorica. The first such auction in Montenegro will be held for “unspecified locations,” which means that the planned photovoltaic systems can be located in any area in the country.

The available capacity is 250 MW, and eligible projects are for at least 400 kW each. There is no nominal upper limit for project capacity for which a potential participant bids, except the total quota itself.

However, the quota can be extended, by a maximum of 20%. The government said there is an extra 50 MW available for the inclusion of an entire eligible project that entered the quota only partially, or more such projects, in case the bids for them were equal. But if the part of the capacity that surpassed the quota is larger than the possible extension, the commission would award a market premium only for the part that did fit the quota.

Price to be adjusted for inflation every year

The accepted price, from the financial offer of a participant that obtained the status of a temporarily privileged producer through the auction, will be adjusted for the Eurozone inflation rate once per year.

Some of the qualification conditions are that the project didn’t or doesn’t benefit from government incentives, that construction works haven’t begun and that the developer hasn’t secured financing for their completion.

The lowest bids win, and the maximum allowed price is EUR 65 per MWh. The market premium is awarded via a contract for difference (CfD).

Namely, the operator of a renewable electricity plant has a guaranteed price, approved through the auction. When the firm sells electricity in the market at a higher price, it must return the difference. And vice versa: when the beneficiary gets less per megawatt-hour than the contract price, they are reimbursed.

Bank guarantees are EUR 20 per kW or EUR 40 per kW

As for the bank guarantees, they are determined at EUR 20 per kW (EUR 20,000 per MW) of the offered capacity for participants that have signed a contract for the construction of the infrastructure for a grid connection and for connecting the facility, or EUR 40 per kW for ones that have at least obtained an analysis of the possibility for a grid connection, from the transmission or distribution system operator, according to the documentation.

Upon the expiration of the deadline, the commission conducts the process of determining the eligibility of the bidders and projects, after which it opens and ranks the financial bids.

Minister of Energy and Mining Admir Šahmanović said the competitive bidding process is in the public interest: for the security of supply, opening the way for investments in other sectors and for investor confidence. He told the Mina-business news agency that the auction would bring more stable prices in the long run.

Conducting renewable electricity auctions is one of the commitments toward the European Union that were defined by the Reform Agenda of Montenegro 2024-2027. It contains the conditions for the approval of up to EUR 383 million from the Growth Plan for the Western Balkans and the Reform and Growth Facility (RGF).

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July 8, 2025
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Montenegro determines quota, maximum price for solar power auction

At the forthcoming auction for market premiums for electricity from solar power plants in Montenegro, the participants will bid for state support for 250 MW in total capacity. The maximum price to compete for is EUR 65 per MWh and the contracts will last 12 years.

The Government of Montenegro adopted the decisions and directives necessary for issuing a public call to auction for solar power projects of at least 400 kW. The lowest bids will win, and the maximum price is EUR 65 per MWh. Market premiums will be awarded, via 12-year contracts for difference (CfDs).

Conducting renewable electricity auctions is one of the commitments toward the European Union that were defined by the Reform Agenda of Montenegro 2024-2027. It contains the conditions for the approval of up to EUR 383 million from the Growth Plan for the Western Balkans and the Reform and Growth Facility (RGF).

The sum consists of EUR 110 million in grants via the Western Balkans Investment Framework and highly concessional loans, as the EU calls them. WBIF would provide EUR 95 million and the remainder is for the state treasury.

The commission responsible for the auction will extend the quota by up to 50 MW if it fits in one or more eligible projects in their entirety

The country plans solar and wind power auctions for 400 MW in total capacity. The quota for the first auction for the rights to market premiums, only for photovoltaic projects, is 250 MW.

However, the quota can be extended, by a maximum of 20%. The government said the extra 50 MW is available for the inclusion of an entire eligible project that entered the quota only partially, or more such projects, in case the bids for them were equal. But if the part of the capacity outside of the quota is larger than the possible extension, the commission would award a market premium only for the part that did fit the quota.

Conversely, in case a share of the quota isn’t awarded, it can be switched to the next auction.

Under a CfD, the operator of a renewable electricity plant has a guaranteed price, approved through the auction. When the firm sells electricity in the market at a higher price, it must return the difference. And vice versa: when the beneficiary gets less per megawatt-hour than the contract price, they are reimbursed.

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July 7, 2025
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EU’s Modernisation Fund disburses EUR 3.66 billion for clean energy projects in nine countries

Energy modernization projects in nine member states of the European Union will receive a total of EUR 3.66 billion from the Modernisation Fund, in the largest disbursement to date from the facility financed by carbon pricing revenues, according to a press release from the European Commission. The selected projects focus on renewable energy, grid upgrades, energy storage, and energy efficiency.

The largest beneficiary of the latest disbursement is Poland, which will receive EUR 1.33 billion for its projects, followed by the Czech Republic, with EUR 1.05 billion, and Romania, with EUR 712.3 million. Hungary will get EUR 181.3 million, Croatia EUR 170 million, and Greece EUR 113.6 million. The rest will go to Latvia (EUR 40 million), Lithuania (EUR 37 million), and Slovenia (EUR 19.7 million).

Croatia will finance renewable heat production and zero-emission transportation, and Slovenia will upgrade power grid to integrate renewables

In Croatia, EUR 80 million will be used for the production and use of heat from renewable energy sources and energy efficiency improvement in heating and cooling systems. The rest will go to investments in zero-emission transportation. In Slovenia, the funding will facilitate renewables integration through the modernization and development of the electricity transmission and distribution network.

Greece, which became a Modernisation Fund beneficiary in January 2024, intends to replace urban diesel buses with new electric buses, improve energy efficiency in municipal swimming pools, and switch the heating and cooling systems in its greenhouse infrastructure to renewables.

In Romania, the funding will help improve the energy efficiency of facilities covered by the European Union’s Emissions Trading System (EU ETS), support the contract-for-difference (CfD) scheme for onshore wind and solar, and finance the installation of solar and wind power plants for self-consumption in the agricultural and food sectors and public institutions. It is also intended for investments in new solar, wind, and hydropower capacities and to support the modernization and rehabilitation of the district heating network.

In the Czech Republic and Lihtuania, the funding will support energy storage projects

Other example projects include investments in storage capacity for renewable electricity in the Czech Republic, investments in large-scale energy storage capacities in Lithuania, and a clean air program in Poland that focuses on energy efficiency improvements and heat source replacements in single-family houses, according to the press release.

The investments will reduce greenhouse gas emissions in the energy, industry, and transportation sectors, improve energy efficiency, and help the beneficiary states meet climate and energy targets, the commission said.

The projects will also help improve people’s everyday lives, by reducing bills, improving public services, creating jobs, and making the energy transition real, fair, and beneficial for all, according to Teresa Ribera, the European Commission’s Executive Vice-President for Clean, Just and Competitive Transition.

With this latest round of funding, the total disbursements from the Modernisation Fund since January 2021 have climbed to EUR 19.1 billion. The fund is financed by revenues from the auctioning of emission allowances under the EU ETS.

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