Electricity distributors can access financing for the expanding and modernization of the network, through the Modernization Fund, the Minister of Energy, Virgil Popescu, wrote on Facebook, acording to Agerpres.

The opening date of the call for projects is October 11, 14:00, and the closing date is June 20, 2024, 17:00.

Non-reimbursable financing can be obtained for energy infrastructure investment projects, namely the modernization and construction of new sections in the electricity and natural gas transmission and distribution networks, including for the transition of natural gas transmission and distribution networks capable of receiving green hydrogen and for the construction and modernization of natural gas storage depots and for increasing the level of interconnection of the electrical transmission network.

The budget allocated to the call for projects is 1.1 billion euros, and the total approved for 2022 is worth 100 million euros.

Estimated public support from the Modernization Fund is 80% of eligible expenses.

The financing is granted in RON in the form of reimbursement of the incurred expenses. The minimum value is 5 million euros without VAT, and the maximum is 50 million euros without VAT.

Agerpres