The Modernisation Fund is a key part of the European Green DealInvestment Plan. Construction of a Natural Gas-Fired Combined Cycle Power Unit of approx. RO Govt. endorses regulations for disbursing EUR 13 - Romania The investment supports the purchase of an electric vehicles as well as charging stations and technologies for electricity production from renewable energy for charging stations. Construction of a 83.35 MW solar PV farm on the ash and slag deposits of Rovinari power plant. The industry leader for online information for tax, accounting and finance professionals. Building the 400 kV OHL Timioara/Sclaz - Arad. Pilot project - Refurbishment of the 220/110/20 kV Alba Iulia station in digital concept station. Conducting financial and technical due diligence of non-priority investments, including an assessment of the expected emission reductions. b) Installation and renovation of renewable energy sources for public buildings or to provide system energy supply in the public sector. The project will increase energy efficiency, support the systems flexibility, reduce losses, and enhance the control and supervision of the network. The investment concerns the development or modernisation of power distribution lines and substations in order to support the connection of public and non-public charging points. Generation and use of electricity from renewable sources Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it has signed a Memorandum of Understanding (MoU) with Skillsoft, a leading provider of transformative learning experiences, to revamp education and learning for students from class 6 to lifelong Our Standards: The Thomson Reuters Trust Principles. Support for 26 investment proposals in eight beneficiary countries to modernise their energy systems and improve energy efficiency. The carmakers did not immediately respond to requests for comment. In its first year of operation, the Modernisation Fund made available 898.43 million to eight beneficiary countries to help modernise their energy systems, revenues from the auctioning of 2% of the total allowances for 2021-30 under the. The main objective of the investment is to support the energy efficiency improvements in district heating and reduction of heat losses. Gas Transmission Pipeline Black Sea-Podisor. Scheme to support the creation of new RES production capacities from wind, solar and hydro sources for self consumption for public institutions based on a first come, first served principle. - Combined heat and power plants (not operating in the conditions of high-efficiency cogeneration), as a result of which the installations will operate in the conditions of high efficiency cogeneration. Business Insider SRL is a carrier of data with personal character, registered in the Registrul de Evidenta a Prelucrarilor de Date cu Caracter Personal with the no. Scheme: Municipal PV - small municipalities; priority investment of the RES+ Programme (New renewable energy sources). The beneficiary Member States are Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, The overall objective of the scheme is to ensure industrial development of the energy-intensive industry and reduction of carbon emission intensity. Generation and use of electricity from renewable sources; Energy efficiency in buildings; Energy storage; Modernisation of energy networks, Improving energy efficiency in industrial production under the EU ETS. The planned investments will consist of the construction of new and expansion or modernisation of existing installations where selectively collected municipal bio-waste will be used to obtain biogas for energy production in the conditions of high-efficiency cogeneration. The investor is the owner/concessionaire/user of the project land and has secured or is in process of securing construction rights. The Construction of a steam-gas cycle PPC1 at The UE Komoany. Modernisation of energy sources in energy supply systems used in industry under EU ETS, where natural gas is used as fuel, without CHP. Projects to improve energy efficiency through thermal energy recovery in industrial Romania With an expected budget of EUR14bln in 2021 2030, the EU Modernisation Fund is one of the key funding instruments aimed at achieving the 2030 EU climate objectives, as set out in the European Green Deal. 4. Construction of a Photovoltaic Park on the Inner Waste Pile within Tismana 1 Rosia-Rovinari Open Pit Mining Unit. - regulation of luminous flux and equalisation of current consumption in individual phases of operation of the public lighting system, Romania: EUR 6bn of Funds From Modernisation Fund 3. Construction of a 128.3 MW solar PV farm on the Inner Waste Pile Tismana 1 at Rovinari. The Modernisation Fund supports investments in generation and use of energy from renewable sources, energy efficiency, energy storage, modernisation of energy networks, including district heating, pipelines and grids, and just transition in carbon-dependent regions. In its first year of operation, the Modernisation Fund made available 898.43 million to eight beneficiary countries to help modernise their energy systems, reduce greenhouse gas emissions in energy, industry, transport and agriculture and support them in meeting their 2030 climate and energy targets. The Romanian Government approved on Wednesday, May 4, the ordinance that establishes the institutional and financial framework for the disbursement of grants 4. Direct applications by project proponents cannot be sent to the EIB, the Investment Commitee or the EC. The investment proposal concerns a scheme for the period 2023-2030 relating to the modernisation, digitalisation, extension of the District Heating networks in Romania. Romania was assigned an additional EUR 1.1 bln of funding under the EU's Modernisation Fund, money that will be invested in new renewable electricity production storage and energy efficiency improvement from the Modernisation Fund: high-efficiency cogenerations. A high-pressure K20 steam boiler will be built to burn wood chips and will be installed in a separate boiler room. Examples of the investment proposals that the Fund is backing are: The deadline for beneficiary Member States to submit investment proposals for potential support by the Modernisation Fund for the next disbursement cycle is 27 January 2022 for non-priority proposals, i.e. Romania gets EUR 1.1 bln more for decarbonisation under Member States could draw on other national funds and/or European instruments, such as: Our website uses anonymised cookies to give you the best browser experience and to collect aggregated statistics. 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. The scheme comprises the financial incentive which foresees compensation for natural persons and legal entities for purchasing battery electric vehicles (BEV). This is supplemented by a highly efficient flue gas cleaning system. KEY FEATURES OF THE MODERNISATION FUND AS ESTABLISHED IN THE ETS DIRECTIVE1 1.1. Battery storage for energy balancing services to Croatias TSO. Romania The partial replacement of the existing capacity of the EM1 (coal-fired thermal power plant) in Mlnk with the capacity of the newly implemented WTE-HE-CHP plant. or Energy storage, Scheme (Part B): Support for photovoltaic power plants with installed capacity above 1 MW of the RES+ Programme (New renewable energy sources). Scheme: Energy efficiency and savings in modernisation and development of pipelines in the district heating and cooling (DHC) - priority investment of the Programme HEAT (Modernization of thermal energy supply systems). Romania was assigned an additional EUR 1.1 bln of funding under the EUs Modernisation Fund, money that will be invested in new renewable electricity production Support for the use of storages and other devices for network stabilization - a scheme for DSOs. The investment comprises a 400 kV overhead line with a total length of 260.8 km. Generation and use of electricity from renewable sources; Energy storage; Improvement of energy efficiency. (2) High-efficiency cogeneration (electricity and heat), trigeneration (electricity, heat and cold) or quatrogeneration (electricity, heat, cold and purified CO2). The newsletter widget (small element on the right side of the website; links to the newsletter subscription page) remembers if you click it away - then it will not appear again. Increase in energy efficiency in agriculture. (P5 Modernization of natural gas energy sources with CHP). personalising content and ads, providing social media features and to The investment concerns the establishment and operation of Energy Communities as well as of Independent Aggregators. The investment will support projects related to the improvement of energy efficiency in enterprises with the following scope: Improvement of energy efficiency, Scheme (Part A1): Modernisation of energy production priority investments of the Programme ENERG ETS. - energy savings by using wastewater heat recovery; The Fund operates under the responsibility of itsbeneficiary countriesin close cooperation with theEuropean Commissionand theEuropean Investment Bank. State Aid Scheme to support the production of electricity from renewable energy sources Modernisation of energy sources and fuel base switch in thermal energy supply systems in EU ETS industry, with primary objective of decommissioning of coal-fired energy sources, in particular replacement of the energy source with a change of the fuel used or type of energy to natural gas without CHP. Non-priority investments that do not fall into a priority area but meet the Modernisation Fund objectives and demonstrate reduction of greenhouse emissions. Improvement of energy efficiency; Generation and use of electricity from renewable sources, Financial instrument for improving energy efficiency in business (ENERG Programme). - natural gas steam boiler (lignite as the original fuel) The investment concerns construction of the high-efficiency cogeneration plant using municipal waste with a capacity of 150 000 tonnes/year in Most. Construction (and/or conversion of fossil fuel based heat only generation plants) based on renewable energy sources (RES). The investment concerns the deployment of 450 000 smart electricity meters during 2024-2027, as well as the necessary infrastructure. Scheme (Part 2A): Modernisation of energy sources to biomass without CHP; non-priority investments of the Programme ENERG ETS (Improvement of energy efficiency and reductions of emissions of greenhouse gases in EU ETS industry). and other data for a number of reasons, such as keeping FT Sites reliable and secure, Support for the modernisation /rehabilitation of the smart district heating network - Type A Projects which fall under the incidence of state aid, Supporting investments in new renewable electricity (solar and wind) generation capacities for self-consumption of enterprises in the agricultural and food sectors. The EIB confirms if the investment is a priority investment. State aid scheme to support the investments to modernise energy systems, including energy storage and energy efficiency improvement from the Modernisation Fund - DHC. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Share. Statistics cookies anonymise your data and help us to learn how visitors use our website. Scheme to support investments into modernisation (reconstruction or replacement) of equipment for combined electricity and heat production and storage (only as part of the supported high-efficiency cogeneration project) in heat supply systems, leading to increased efficiency or change of solid fossil fuel based or type of energy. Modernisation of energy sources and fuel base switch in thermal energy supply systems, with primary objective of decommissioning of coal-fired energy sources, in particular replacement of the energy source with a change of the fuel used or type of energy to natural gas without CHP. WebThe Modernisation Fund is funded from the revenues from the auctioning of 2% of the total allowances for 2021-30 under the EU Emissions Trading System (EU ETS), as well as any additional allowances transferred to the Modernisation Fund by beneficiary Member States. WebThe Modernisation Fund cannot finance investments which involve solid fossil fuels, unless such investments relate to efficient and sustainable district heating in Bulgaria and The investment proposal will support the scheme for improving energy efficiency in industry in Croatia. - natural gas hot water boiler (hard coal as the original fuel) - reducing the energy demand of buildings in the production area. The scheme will support projects that will ensure a significant increase in energy efficiency in the energy intensive sector: This does not include online advertising cookies. Benin Can Boost Economic Transformation by Modernizing Road Modernization Fund The projects under the scheme will aim to modernise energy systems and improve energy efficiency. The support will cover investments related to the construction or reconstruction of electricity generating units from renewable energy sources together with energy storage. Romania received EUR 424 mln from the EU budget under the Modernization Fund to develop its energy infrastructure. IMPRINT | INTERNATIONAL TERMS OF BUSINESS. Development of cogeneration based on municipal biogas. This measure will reduce electricity Scheme: Modernisation of energy sources to natural gas with CHP; priority investments of the Programme ENERG ETS (Improvement of energy efficiency and reductions of emissions of greenhouse gases in EU ETS industry) Replacement for heat pumps (electrically driven) Other supported measures under this scheme are: The beneficiary countries are Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, and Slovakia. Supported measures within the scheme: b) Development and interconnection of existing thermal energy supply systems. a) Construction of new installations operating in conditions of high-efficiency cogeneration. The main aim of the proposed investments is modernisation of energy sources and fuel base switch in EU ETS industry, with primary objectives of a substantial improvement in energy efficiency and emission reductions. The use of alternative fuels for energy purposes. Energy storage; Modernisation of energy networks. The proposed measures can be divided into two main areas: (1) Energy Efficiency in manufacturing and production processes. Generation and use of electricity from renewable sources Subsequent disbursement of the scheme MF 2021-2 EE 0-001. Construction of a Photovoltaic Park on the Waste Pile Bohorelu Jilt Open Pit Mining Unit. Romania: Call for project proposals for financing via the - natural gas hot water boiler (lignite as the original fuel) Subsequent disbursement of the scheme MF 2022-2 HR 0-002, Subsequent disbursement of the scheme MF 2022-1 HR 0-001, PV and energy storage for the public water service providers. 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The country could also build small nuclear reactors. Scheme targeting investments that result in high efficiency CHP installations together with possibility for energy storage (only as a part of the supported high-efficiency cogeneration project). The Modernisation Fund is supporting 26 investment proposals in the areas of electricity generation from renewable sources, modernisation of energy networks and energy efficiency in the energy sector, in industry, in buildings, in transport as well as in agriculture. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. The scheme supports the replacement of the energy source with a change of the fuel used or type of energy to renewable energy sources (RES), without high-efficiency combined heat and power (CHP). - solar heat collector plants. The scheme covers components targeting energy efficiency in multi-family residential buildings and public buildings. 2nd disbursement of the scheme MF 2021-2 SK 0-002. Construction of WtE facility in the Mlnk power plant location. a) installation and modernisation of technologies to reduce GHG emissions in the production and processing and introduction of BAT (Best Available Technology) into industrial processes. - Measures in the energy management of enterprises (renewable energy installations, modernisation and reconstruction of energy production equipment for self-consumption leading to an increase in efficiency, innovative energy management, accumulation of all forms of energy within RES installations, modernisation of lighting systems and the use of waste energy). Modernisation Fund invests 2.4 billion to accelerate the green Investments were confirmed in Czechia (320 million), Estonia (24.59 million), Croatia (2.15 million), Hungary (34.28 million), Lithuania (28 million), Poland (346.40 million), Romania (22.99 million), and Slovakia (120 million). The investment comprises a 400 kV overhead line with a total length of 35.35 km and 400 kV underground cable with a total length of 2 km. The investment proposal aims to develop capacities of the production of green hydrogen, thereby increasing the share of renewable energy sources in energy consumption and decreasing GHG emissions. Accelerating the transition to climate neutrality, The Modernisation Fund operates under the responsibility of the, Type of support and synergies with other instruments, demonstrate that the investment complies with the Modernisation Fund requirements set in the, have sufficient funds available on its Modernisation Fund account, provide evidence that the investment proposal is in line with the State aid rules, confirm that the investment complies with any other applicable requirements of Union and national law. university The investment concerns the conversion to 400 kV of the existing Brazi Vest Teleajen Stlpu overhead line in order to create a new 400 kV corridor connecting Dobrogea to Bucharest city. Newsroom Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it has signed a Memorandum of Understanding (MoU) with Skillsoft, a leading provider of transformative learning experiences, to revamp education and learning for students from class 6 to The EIBs investment proposal assessment activities in the Modernisation Fund are ring-fenced from the standard EIB financing and technical assistance operations in order to avoid any potential conflict of interest in carrying out the activities mandated in accordance with the ETS Directive and the Commission Implementing Regulation (EU) 2020/1001 of 9 July 2020. Fund
