The Ministry of Energy sent on Tuesday to the European Investment Bank (EIB) the first applications for financing from the budget of the Modernization Fund nine strategic projects in the energy sector, with an investment cost of over 693 million euros, according to a ministry press release.
There is a project belonging to CNTEE Transelectrica S.A. - The new Overhead Power Line (OHL) 400 kv d.c. Constanţa Nord - Medgidia Sud; Total CAPEX (excluding VAT) 22.992 million euros, representing fully eligible costs, and eight projects belonging to the Oltenia Energy Complex, total CAPEX (excluding VAT) 670.8 million euros, eligible costs 469.562 million euros.
"The implementation of these investments is part of the Paris Agreement on Climate Neutrality until 2050, as it leads to a reduction in carbon emissions and primary energy consumption through the production of renewable sources," the release reads.