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Text Content

 * How it works
 * Investments
 * Documents
   * Annual reports
   * Investment Committee decisions
   * Investment Committee recommendations
   * Confirmations
   * Disbursement decisions
   * Assessment Guidance Document
 * Structure
   * Member States
   * Investment Committee
   * European Investment Bank
   * European Commission
 * News
 * FAQ
 * Contact


Select Page
 * How it works
 * Investments
 * Documents
   * Annual reports
   * Investment Committee decisions
   * Investment Committee recommendations
   * Confirmations
   * Disbursement decisions
   * Assessment Guidance Document
 * Structure
   * Member States
   * Investment Committee
   * European Investment Bank
   * European Commission
 * News
 * FAQ
 * Contact




MODERNISATION FUND

Accelerating the transition to climate neutrality





ABOUT

The Modernisation Fund is a programme from the European Union to support 13
Member States to meet energy targets by helping to modernise energy systems and
improve energy efficiency.


PARTNERS

The Modernisation Fund operates under the responsibility of the beneficiary
Member States in close cooperation with the European Commission and the European
Investment Bank.




WHAT IS TARGETED

The Modernisation Fund is a key part of the European Green Deal Investment Plan.
It will target investments in:

Renewable energy

Energy efficiency

Energy storage

Energy networks

Just transition in carbon-dependent regions


WHICH COUNTRIES CAN BENEFIT

Bulgaria

Croatia

Czech Republic

Estonia

Greece

Hungary

Latvia

Lithuania

Poland

Portugal

Romania

Slovakia

Slovenia


CONDITIONS FOR FINANCING

To obtain financing, the beneficiary Member State has to:

 * demonstrate that the investment complies with the Modernisation Fund
   requirements set in the ETS Directive and the Implementing Regulation
 * have sufficient funds available in the relevant category on its Modernisation
   Fund account
 * provide evidence that the investment proposal is in line with the State aid
   rules
 * demonstrate that the investment complies with “do no significant harm”
   principle (from 1 January 2025)
 * confirm that the investment complies with any other applicable requirements
   of Union and national law
 * confirm that there is no double funding of the same costs with another Union
   or national instrument

ensure that duration of the scheme does not exceed five years

Details on the eligibility criteria are described in the Assessment Guidance
Document.


TYPES OF INVESTMENT

The Modernisation Fund envisages two types of investments:



Priority investments that have to fall into at least one priority area as
defined by the ETS Directive.

Non-priority investments that do not fall into a priority area but meet the
Modernisation Fund objectives and demonstrate reduction of greenhouse emissions.


TYPE OF SUPPORT AND SYNERGIES WITH OTHER INSTRUMENTS

The support granted by Member States using the Modernisation Fund resources
needs to be compliant with the State aid rules.

Co-financing from private and public entities is possible, as long as State aid
rules are respected and the same costs are not already funded by another Union
or national instrument (no double funding).

The Modernisation Fund complements other European and mobilises significant
resources, which can help  beneficiary Member States support investments in line
with the REPowerEU Plan and the Fit For 55 package

In this context, Member States could draw on other national funds and/or
European instruments, such as:

 * InvestEU programme
 * Connecting Europe Facility, including its energy projects (Projects of Common
   Interest)
 * European structural and investment funds, including the Cohesion Fund and the
   European Regional Development Fund
 * Just Transition Fund


WANT TO KNOW MORE ABOUT THE MODERNISATION FUND?

Get in touch

INFORMATION

Privacy Policy

Disclaimer

Terms and Conditions

Contact






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