Ministry of Energy sends EIB first applications for financing strategic projects in energy sector

The Ministry of Energy sent on Tuesday to the European Investment Bank (EIB) the first applications for financing from the budget of the Modernization Fund nine strategic projects in the energy sector, with an investment cost of over 693 million euros, according to a ministry press release. "In the European legislative context on combating climate change and the energy transition in order to increase the level of ambition to reduce emissions, increase the share of renewable energy sources, energy efficiency measures and the level of interconnectivity of electricity networks, according to the goal assumed in the National Energy Integrated and Climate Change Plan (PNIESC), which represents Romania's commitment to the joint effort to meet the European objectives in the field of energy and climate set for 2030, the Ministry of Energy as the competent authority for managing and running the Modernization Fund, transmitted to the EIB, through the related platform, 9 project proposals for financing from the Modernization Fund, with a total investment cost of over 693 million euros, of which over 492 million euros was requested from the Modernization Fund," the release informs.   There is a project belonging to CNTEE Transelectrica S.A. - The new Overhead Power Line (OHL) 400 kv d.c. Constanţa Nord - Medgidia Sud; Total CAPEX (excluding VAT) 22.992 million euros, representing fully eligible costs, and eight projects belonging to the Oltenia Energy Complex, total CAPEX (excluding VAT) 670.8 million euros, eligible costs 469.562 million euros. "The implementation of these investments is part of the Paris Agreement on Climate Neutrality until 2050, as it leads to a reduction in carbon emissions and primary energy consumption through the production of renewable sources," the release reads. AGERPRES (RO - editor: Nicoleta Gherasi; EN - author: Bogdan Gabaroi, editor: Adina Panaitescu)