EU Allocates €2.5 Bn to Modernize Energy Sector in 11 Countries

The European Commission and the European Investment Bank announced the release of €2.5bn from the Modernization Fund to support 51 energy projects in 11 EU member states. The funds come from revenues generated by the Emissions Trading System (EU ETS).

Since January 2021, the fund has provided a total of €23.2bn. The latest funding will go to the Czech Republic, Estonia, Greece, Croatia, Latvia, Lithuania, Hungary, Poland, Portugal, Romania and Slovenia.

The support is intended for modernizing energy systems, improving energy efficiency in the energy sector, industry and transportation, developing renewable energy sources, modernizing power grids and reducing greenhouse gas emissions.

The initiative also aims to strengthen the competitiveness of European industry, support innovation, increase the resilience of energy infrastructure and reduce imports of fossil fuels.

The Modernization Fund is intended for 13 EU member states with lower gross domestic product per capita. Slovakia is among the eligible countries.

The next deadline for submitting investment proposals is 11 August 2026 for non-priority projects, and 8 September 2026 for priority projects. Investments in energy modernization, emissions reduction and improving energy efficiency remain a priority.

(ec.europa, bak)