EU Invests Almost EUR 3 bln for Cleaner Energy Systems
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The European Commission said yesterday that the European Union has disbursed EUR 2.967 billion via the Modernization Fund to support 39 energy projects in 10 EU member states, Hungary among them.
These investments will support the modernization of energy systems, reducing greenhouse gas emissions in the energy, industry, and transport sectors and improving energy efficiency.
This is the largest disbursement to date via the Modernization Fund, bringing the total spending to EUR 12.65 bln since January 2021.
These investments help member states to meet their climate and energy targets and contribute to the EU's long-term target of reaching climate neutrality by 2050, the EC said.
Member states benefitting from the first disbursement of 2024 are Bulgaria (EUR 65.2 million), Croatia (EUR 52 million), Czech Republic (EUR 835.2 million), Estonia (EUR 24.1 million), Hungary (EUR 76.8 million), Latvia (EUR 26.8 million), Lithuania (EUR 59 million), Poland (EUR 697.5 million), Romania (EU R 1.095 billion) and Slovakia (EUR 35 million).
The projects focus on renewable electricity generation, use and deployment of renewable energy sources, modernization of energy networks and energy efficiency, according to modernisationfund.eu
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