Financing for the energy efficiency of the industrial sector

The projects regarding the modernization of equipment and the implementation of energy management systems within several companies in our country will be started soon, after yesterday the Ministry of Energy signed 27 financing contracts in this regard, according to a press release issued by the public institution. The total value of the contracts is 138.25 million lei, and the financing is provided from the funds allocated through the National Recovery and Resilience Plan, through Investment 5, Component 6 - Energy - Ensuring energy efficiency in the industrial sector.

According to the cited source, the Ministry of Energy supports the industrial sector through financing contracts for the modernization of equipment, constructions related to the industrial process, as well as for the implementation of a dedicated energy consumption management system.

On the occasion of the signing of the financing contracts, Sebastian Burduja, the Minister of Energy, said: "Through this measure, we ensure that the industrial sector in Romania takes important steps towards a more efficient and competitive future. Investments in the modernization of equipment and the implementation of energy management systems will bring significant benefits: reducing energy consumption by up to 70% on specific components, reducing carbon emissions and - very importantly - increasing the competitiveness of the Romanian economy. Higher incomes for Romanian capital mean better-paid jobs".

The energy minister added that the industrial sector needs funding especially since in recent years it has been negatively impacted by the overlapping crises generated by rising energy prices, the war in Ukraine and rising prices and syncopes in raw material supply chains.

Sebastian Burduja stated: "Nevertheless, in 2023, the industry's share in the economy remained at an important level of 19.6%. That is why the revival of the industry must be supported by all government efforts. The Ministry of Energy is constantly making efforts to create aid schemes from the European funds that we have at our disposal through the PNRR and the Modernization Fund".

According to the press release issued by the Ministry of Energy, the financing granted yesterday is aimed at streamlining technological processes, achieving energy savings and reducing greenhouse gas emissions by at least 30% compared to the emissions measured before the financing was granted.

The total budget allocated in the PNRR to support the industrial sector for energy efficiency is 64 million euros, but this can be supplemented by allocations from the Modernization Fund. Eligible investments include the installation and modernization of specific equipment, constructions related to the industrial process and the implementation of a dedicated energy consumption management system.