Brussels (Brussels Morning Newspaper) – The EU Commission allocated €2.7 billion on 19 Dec 2024 for 39 clean energy projects in 8 EU nations, boosting efforts to meet 2030 climate goals and reduce emissions.
The European Commission on 19 Dec 2024 paid €2.7 billion to support 39 investment schemes in eight beneficiary Member nations, following a review by the European Investment Bank under the Modernisation Fund. The support includes the very first investment authorised in Slovenia under the Fund, a Member nation which became beneficiary in 2024.
As reported by the EU Commission, these projects will benefit lower-income EU states maintain their clean industrial sector and fulfil their 2030 climate and energy objectives by lowering greenhouse gas emissions and enhancing energy efficiency. The new support launched adds to the investments revealed in June of nearly €2.97 billion for other 38 projects, carrying the total disbursements from the Modernisation Fund in 2024 to €5.67 billion, surrounding 77 projects in 11 nations.
According to the EU Commission, in 2024, allocations were made to Hungary (€202 million), Croatia (€52 million), Czechia (€1.283 billion), Bulgaria (€65 million), Estonia (€84 million), Slovenia (€309 million) Lithuania (€185 million), Poland (€1.733 billion), Latvia (€27 million), Slovakia (€153 million) and Romania (€1.956 billion),. The 77 projects funded this year concentrate on the modernisation of energy networks, electricity generation from renewables, energy efficiency, and the reserve of coal generation with lower carbon intensity fuel.
Supported by revenues from the European Union’s Emissions Trading System (EU ETS), the Modernisation Fund has now delivered €15.45 billion of investment to fund projects in the clean energy transition since its establishment in 2021.
