EU Modernisation Fund
Supports energy system modernisation in 13 EU Member States
The Modernisation Fund supports the modernisation of energy systems and improvement of energy efficiency in 13 lower-income EU Member States. It aims to help these states achieve their climate targets and the objectives of the European Green Deal. The fund primarily supports investments in six priority areas:
- Renewable energy generation and use, including renewable hydrogen.
- Heating and cooling from renewable sources.
- Energy efficiency across industries, transport, buildings, agriculture, and waste.
- Energy storage and network modernisation, including district heating and electricity grids.
- Support for low-income households to address energy poverty and modernise heating systems.
- Just transition in carbon-dependent regions for workforce reskilling and education.
The fund is financed by revenues from the auctioning of EU Emissions Trading System allowances.
- Read more at climate.ec.europa.eu
- Modernisation Fund
- Modernisation Fund: How it works
- Modernisation Fund: What can be financed
- Modernisation Fund: Investment Committee
How to apply
Beneficiary Member States submit investment proposals to the European Investment Bank (EIB) and the Investment Committee. Direct applications from projects are not accepted. The EIB confirms priority investments, while non-priority proposals are assessed by the Investment Committee. Successful proposals are decided upon by the Commission, with disbursements occurring twice a year.
Eligibility
Eligible applicants are public sector entities from the following EU Member States: Bulgaria, Czechia, Estonia, Greece, Croatia, Latvia, Lithuania, Hungary, Poland, Portugal, Romania, Slovenia, and Slovakia. Investments must align with the priority areas or undergo a technical and financial assessment if non-priority.