October 4 (SeeNews) - Romania is to receive up to 1.4 billion euro ($1.38 billion) for energy independence projects through the European Commission's REPowerEU program, the finance ministry said on Tuesday.
The amount is double compared to the European Commission's initial May proposal to grant Romania approximately 720 million euro under the REPowerEU programme, the finance ministry said in a press release.
"The regulation also provides the opportunity to fight energy poverty by funding assistance programs for disadvantaged categories," finance minister Adrian Caciu said.
On Tuesday, the European Union's Ecofin Council gave the green light to the REPowerEU initiative.
REPowerEU is an initiative developed by the European Union in response to the current geopolitical energy market realities, which will assist member states become energetically independent from Russia before 2030.
($=1.0249 euro)