The European Commission has approved a €259 million scheme, under Romania’s Recovery and Resilience Plan, to support investments in energy projects, according to Euractiv.
The scheme aims at supporting Romania’s regional development and fostering the EU’s strategic objectives relating to the green transition, the EU executive said.
It will provide direct grants to investors in production, assembly and recycling of batteries, photovoltaic cells and panels, which are located in Romania’s areas eligible for regional aid.
The scheme has an estimated budget of €259 million and it will be partly funded through the Recovery and Resilience Facility.
The Commission found that the measure contributes to Romania’s regional development and that it is necessary and appropriate for the development of areas included in the country’s regional aid map.
Moreover, the aid is proportionate as it is limited to the minimum necessary and will not exceed the maximum amounts set out in Romanian’s regional aid map.
The Commission also noted that the measures would have a limited effect on member state trade and competition.