The energy ministry will launch two financing programmes worth 815 million euros in March to stimulate investments in wind, solar and hydropower capacity.

The finance ministry said that financial support consists of non-reimbursable funds from the EU’s Modernisation Fund and will take the form of grants of up to 20 million euros per beneficiary.

-All these investments mean jobs, competitiveness for the Romanian private sector and lower energy bills for all Romanians over the long term, energy minister Sebastian Burduja said.

The programmes will support wind, solar and hydropower production capacities, with one of the two programmes encouraging the utilisation of at least 70% of the green energy produced for self-consumption.

Applicant guides have been launched for public consultation and potential beneficiaries are invited to submit suggestions to improve financing guidelines so that tenders can be launched on March 1. Once the tenders are open, bidders may submit offers for ninety days, while selected projects must be completed within three years from signing the financing contracts, but no later than December 31, 2029.

Eligible beneficiaries are micro, small and medium-sized enterprises (MSMEs) as well as large corporations which conduct activities related to producing and selling electricity. The selection criteria will be the price per MW, in euro.

The financing programme aimed at supporting self-consumption through the generation of renewable energy is worth 415 million euros. Solar power projects with installed capacities of over 1 MW have been allocated 190 million euro, with a maximum disbursement of 500,000 euro per installed MW, while solar projects of up to 1 MW will benefit from a 170 million euro financing package, with a maximum disbursement of 1 million euro per MW. Wind power projects are allocated 30 million euros with maximum disbursements of 700,000 euros per MW, while hydropower facilities will benefit from 25 million euros with maximum payouts of 1.805 million euros per MW.

The second programme is worth 400 million euros and is aimed exclusively at electricity generation from renewable sources. A total of 200 million euros has been earmarked for solar projects with maximum grants of 500,000 euros per MW. Wind and hydropower facilities will benefit from financial support packages of 100 million euros each, with maximum disbursements of 700,000 euros and 1.805 million euros per MW, respectively.