More precisely, it is a financing of 1.1 billion euros, allocated through the Modernization Fund for new investment programs, and which was approved at the recent meeting of the Investment Committee of the Fund.

Of this money, 860 million euros will enter Romania this year alone, to be invested in the development of green energy production and storage, in new high-efficiency cogeneration capacities, the modernization of the Bucharest metro and the electrification of some railway lines.

Sebastian Burduja, Minister of Energy: It is the result of dozens of technical meetings with the experts of the European Investment Bank, an enormous teamwork, for which I thank my colleagues from the Ministry of Energy and everyone involved.

Approved investments include: 1. EUR 361 million for cogeneration plants.

The ministry will finance all three CETs left unmodernized in Bucharest (Sud, Progresu and Grozăvești). The current groups are from the 1960s-1970s, inefficient and polluting. The investment will mean lower maintenance bills for Bucharest residents, higher electricity production and cleaner air for the Capital. Also, they will sign the financing contracts with ELCEN in November, and Bucharest will have, after many decades, a modern heating and electricity production system.

EUR 150 million for new battery storage capacity. This means that storage is the zero priority of the national energy system, according to the ministry. Through this new call, based on the success of the PNRR call, we will be able to benefit from green energy for Romanians even when the wind is not blowing or the sun is not shining.

Sebastian Burduja, Minister of Energy: We will launch the call in November — this fall the projects are counted again at the Ministry of Energy.

EUR 200 million for the production of green energy at the level of public institutions (town halls, universities, etc.). The ministry succeeded in supplementing the already granted amount of EUR 500 million and will be able to finance ALL eligible projects submitted, out of a total of over 1400 requests. Green energy and lower bills for public institutions across the country.

The Ministry of Transport will finance, through the Modernization Fund, 3 investments of 400 million euros for the purchase of 12 trains for the M4 metro line, the electrification of 3 railway lines and new renewable energy capacities for self-consumption of airfields.

The Ministry of Agriculture received approval for the second tranche of 50 million euros, out of a total of 500 million euros, to support the production of renewable energy for self-consumption in the agricultural and food sector. Solar parks for farmers! Romania is the champion of attracting resources through the Modernization Fund.