The European Commission (EC) announced on Monday that the European Union (EU) has allocated nearly EUR 3 billion from its Modernization Fund to support 39 energy projects across ten member states, including Croatia, with the aim of advancing climate neutrality and energy modernization, Croatian media report. Croatia has received a total of EUR 209.96 million from the fund, which supports various energy initiatives including renewable energy production, energy efficiency improvements, and the transition to low-carbon technologies.  Established by the Directive on the Trading of Greenhouse Gas Emissions for the period from 2021 to 2030, the Modernization Fund is a financial instrument aimed at achieving climate neutrality. It seeks to expedite the energy transition in EU member states, particularly those with lower incomes, by providing grant funds to support modernization investments in the electrical power sector and other energy systems. To date, ten countries—Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, and Slovakia—have utilized these funds, with Croatia receiving 3.14% of the accumulated resources.  The Modernization Fund enhances Croatia's energy sector by supporting renewable energy production, energy efficiency, and the modernization of energy networks, including district heating and pipelines. This fund, which complements other EU instruments like the Cohesion Funds and the Fund for a Just Transition, is instrumental in Croatia's transition to low-carbon energy sources. It specifically aids in the development of photovoltaic and energy storage capacities for public water supply services. Additionally, it funds projects at the Dilj production plants in Slavonia to boost energy efficiency and generate electricity from renewable sources, alongside investments in high-efficiency cogeneration within the processing industry.  According to the EU, its next deadlines for member states to submit investment proposals for potential support from the Modernization Fund are 13 August 2024 for non-priority proposals and 10 September 2024 for priority proposals. (ICE ZAGABRIA)

Fonte notizia: T portal, 25.06.2024.