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Romania is preparing to allocate EUR 815 million (USD 886.47m) in grants to incentivise investments in solar, wind and hydropower production across the country.
The energy ministry said on Thursday it will launch two funding calls in March, disbursing funds from the EU’s Modernisation Fund.
The first funding round, amounting to EUR 415 million, is directed towards renewable energy projects wherein a minimum of 70% of the generated energy is intended for self-consumption. As much as EUR 190 million of the budget will be allocated to solar power initiatives of over 1 MW with a cap of EUR 500,000 per installed MW. Solar projects of up to 1 MW will be supported with EUR 170 million, with grants capped at EUR 1 million per MW.
Wind power projects will receive EUR 30 million, with disbursements limited to EUR 700,000 per MW. A further EUR 25 million from the funding package will go for hydropower, with maximum payouts capped at EUR 1.805 million per MW.
The competition is open to micro-enterprises, small or medium-sized enterprises, as well as large enterprises.
The second initiative, valued at EUR 400 million, will allocate a total of EUR 200 million, with maximum grants capped at EUR 500,000 per MW. Additionally, both wind and hydropower facilities will receive financial support packages of EUR 100 million each, with maximum disbursements set at EUR 700,000 and EUR 1.805 million per MW, respectively.
The guidelines for applicants are now available for public review, and potential recipients are encouraged to provide feedback to enhance financing guidelines. The goal is to enable the initiation of tenders on March 1. Once the tendering process commences, interested parties can submit proposals within a ninety-day period.
The selected projects are required to be finalised within three years from the date of signing the financing contracts, but no later than December 31, 2029.
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