EC approves Romania's 259 mln euro solar power investment scheme

The scheme will run until the end of 2024 and the aid will take the form of direct grants to companies active in the production, assembly and recycling of batteries, photovoltaic cells and panels, the EU's executive arm said in a press release.

The support scheme will be partly funded through the EU's Recovery and Resilience Facility (RRF) following the Commission’s positive assessment and adoption of Romania’s National Recovery and Resilience Plan (NRRP).

“The measure approved today will promote the economic development of the most disadvantaged areas in Romania, in line with the Union’s cohesion objectives, while contributing to the acceleration of the green transition,” said Margrethe Vestager, executive vice-president in charge of competition policy, said.

Aid beneficiaries must be located in areas eligible for regional aid, as per the revised Regional Aid Guidelines. Seven regions, along with 28 municipalities covering 89.34% of Romania’s population are eligible for regional investment, the Commission said in December 2021.

Large enterprises located in these areas are able to access between 30% and 60% of the eligible investment costs. Investments made by medium-sized enterprises may be supported with an additional 10%, while small enterprises may benefit from an additional 20% for initial investments with eligible costs up to 50 million euro.

In December, the Commission said Romania will receive 2.14 billion euro from the Just transition Fund (JTF) to support a just climate transition to a greener economy.

($=0.9299 euro)