Acasă » Electricity » Modernization Fund: The applicant’s guide has been launched for 4,000 km of new or modernization power network

Modernization Fund: The applicant’s guide has been launched for 4,000 km of new or modernization power network

11 August 2022
Electricity
Bogdan Tudorache

The Ministry of Energy launched in public consultation the “Applicant’s Guide – Support for the expansion and modernization of the electricity distribution network – Modernization Fund”, the institution announced on its website. At the same time, in the next period, Romania will benefit from 4,000 km of new or modernized electricity distribution network, the budget being of 1.1 billion euros, of which 100 million euros are allocated to 2022, states the responsible minister on Facebook.

At the same time, the ministry also launched the request “to submit expressions of interest for investments in the construction of combined cycle gas turbine (CCGT) capacities financed by the Modernization Fund”.

“We are investing in the development of the expansion and modernization of the electricity distribution network! Through the Modernization Fund we have non-refundable financing for energy infrastructure investment projects! Through these investments, we aim to achieve the following objectives: km of new or modernized electricity distribution network: 4,000 km; increasing the security of energy supply by reducing the number of interruptions; the creation of the necessary infrastructure for the development of new economic activities, as well as the development of the national energy infrastructure to European standards applicable in the field; rational use of energy resources by reducing losses; minimizing the negative impact on the environment; reducing maintenance costs of distribution networks and creating the necessary technical conditions for connecting electric charging stations,” wrote the Minister of Energy, Virgil Popescu, on his social media page.

“Eligible applicants within the investment field 3.2 Energy infrastructure – Support for the expansion and modernization of the electricity distribution network, are the concessionaire electricity distribution operators defined in Law no. 123/2012 of electricity and natural gas, with subsequent amendments and additions, art. 3, point 70.

“The budget allocated to the call for projects is of 1,103,442,829 euros by COM Decision no. MF 2022-1 RO 0-017/23.05.2022 the total approved for the year 2022 is worth 100,000,000 euro. Estimated public support from the Modernization Fund is 80% of eligible expenses.

The financing is granted in lei in the form of reimbursement of expenses incurred, respectively: minimum value of 5,000,000 euros without VAT and maximum value of 50,000,000 euros, without VAT,” the post of the Minister of Energy also states.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.

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