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Non-refundable financing for energy infrastructure investment projects available through Modernization Fund
Non-refundable financing for energy infrastructure investment projects is available through the Modernization Fund, and the budget allocated for 2022 is 100 million euros, Minister of Energy Virgil Popescu said on Tuesday in a Facebook post.
"We invest 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: kilometres of new or modernized electricity distribution network: 4,000; increasing the security of energy supply by reducing the number of interruptions; creating the necessary infrastructure for the development of new economic activities, as well as the development of the national energy infrastructure at European standards applicable in the field," wrote Virgil Popescu.
It will also be possible to finance investment projects aimed at the 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 the connection of electric charging stations.
Eligible applicants under the investment field 3.2 Energy infrastructure - Support for the expansion and refurbishment of the electricity distribution network, are: concessionaire electricity distribution operators defined in Law no. 123/2012 of electricity and natural gas, with subsequent amendments and additions, art. 3, item 70.
"The estimated public support from the Modernization Fund is 80 percent of the eligible expenses. The financing is granted in RON in the form of reimbursement of the expenses incurred, namely: the minimum value 5,000,000 euros without VAT, the maximum value 50,000,000 euros without VAT," the Minister of Energy, Virgil Popescu, further wrote on the social media page.