European Commission
Summary
Today, the Modernisation Fund made available €2.4 billion to seven beneficiary countries to help modernise their energy systems, reduce greenhouse gas emissions in energy, industry and transport, and support them in meeting their 2030 climate and energy targets. Investments were confirmed in Romania (€1391.6 million), Czechia (€520 million), Poland (€244.2 million), Lithuania (€85 million), Hungary (€74.3 million), Slovakia (€49.5 million), and Croatia (€40 million). This concludes the third investment cycle of the Modernisation Fund and represents a sharp increase in spending compared to previous investment cycles.
Examples of the investments the Fund is supporting are:
- the modernisation of public lighting systems within municipalities, conversion of coal to biomass and gas in district heating and ETS installations, and increase of energy efficiency in Czechia;
- the rehabilitation and extension of district heating and cooling networks in Slovakia.
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