Sebastian Burduja, the Minister of Energy, announced that Romania has been designated the first country in the European Union that manages to access a crucial fund for sustainable development. We are talking about accessing a record amount of 3 billion euros from the Modernization Fund, intended to support the contracts for difference scheme, during a press briefing held at the Government.
Sebastian Burduja states that this initiative represents a major step in the promotion of green energy, having a significant impact on air quality in Romania and, implicitly, on the prices in consumer bills. "The effects will be felt throughout the country: more green energy, clean air and fair prices for all Romanians," Burduja emphasized.
The Minister of Energy explains that the Government adopted today, by decision, the general framework for the operation of the two-way Contracts for Difference mechanism, which ensures financial support for the production of electricity with low carbon emissions. The Minister of Energy highlighted that this framework is the result of over two years of hard work, involving negotiations and complex calculations, together with institutions such as the EBRD, the EIB, the European Commission, and others.
"Through the joint effort, Romania marks a precedent in the EU, becoming the first country to use the Modernization Fund in support of renewable energy, with an impressive budget of 3 billion euros," declared Burduja. The objective is to organize a successful tender for the award of the first contracts for difference, targeting both solar and wind power, with capacities of 1000MW each. The bidding procedures are scheduled between May and August 2024, and the signing of the contracts is foreseen for September 2024, representing an important milestone in the National Recovery and Resilience Plan (PNRR).
In conclusion, the Minister of Energy emphasized the commitment to transparency and competitiveness in all procedures, thus ensuring the most advantageous prices, solid projects and an accelerated green transition for Romania. This initiative marks a defining moment in our country's path towards sustainability and energy independence, strengthening Romania's position as a leader in energy transformation at the European level.
