The EU's decision-making bodies approved nearly €3 billion in funding decisions through the Modernisation Fund on 24 June 2024. Ten member states will receive a total of around €2.9 billion to make their energy systems cleaner and more efficient.
Some highlights of current disbursements
The latest round of investments approved continues to demonstrate the breadth of projects being supported across beneficiary countries. Let's take a closer look at some of the key investments greenlighted:
- The largest investments aim to accelerate the phase-out of coal power while scaling up renewable energy deployment. Poland will receive €875 million, primarily targeting the ‘Just Transition’ away from coal mining in regions like Silesia. Funds will support re-skilling workers, remediating former mining sites and attracting new green industries.
- Romania secured €510 million, with a major €300 million loan for retiring inefficient coal plants and replacing them with 1 GW of n
