EU invests EUR 3 bn emissions trading revenues for cleaner energy systems

The European Union disbursed EUR 2.967 billion Monday via its Modernisation Fund to support 39 energy projects in 10 EU Member States. The investments will support the modernisation of energy systems, reducing greenhouse gas emissions in the energy, industry and transport sectors, and improving energy efficiency.

The Modernisation Fund supports investments in the 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.

The Member States benefitting from the first disbursement of 2024 are Bulgaria (€65.2 million), Croatia (€52 million), Czechia (€835.2 million), Estonia (€24.1 million), Hungary (€76.8 million), Latvia (€26.8 million), Lithuania (€59 million), Poland (€697.5 million), Romania (€1.095 billion) and Slovakia (€35 million).

Thiese projects focus on renewable electricity generation, use and deployment of renewable energy sources, modernisation of energy networks and energy efficiency.

Source: EUbusiness