modernization fund

EU disburses record 2.967 billion euros to boost energy projects across member states

On June 24, 2024, the European Union (EU) allocated a substantial sum of 2.967 billion euros from the Modernization Fund to support 39 energy projects across 10 member states. These investments are aimed at modernizing energy systems and significantly reducing greenhouse gas emissions in key sectors such as energy, industry and transport, while also enhancing overall energy efficiency. This disbursement marks the largest single payment through the Modernization Fund to date, contributing to a cumulative expenditure of 12.65 billion euros…