Increased Competitiveness Through Energy Efficiency

ROMANIA can become more competitive as a nation by becoming more energy efficient and now have EU funding of €725 million to finance projects with up to 90 percent financing available.

The eastern European country has started an operation entitled: “Increase of economic competitiveness”, which aims to increase the productivity of Romanian companies and organisations with energy efficiency as one of its prime strategies.

The programme targets small, medium and large enterprises, public institutions, central government and local authorities, from both urban and rural areas.

The main types of investments funded by the complete programme are those which focus on increasing energy efficiency, production capacity, research and development and renewable energy projects.

Between 2007-2013, €725 million is allocated to fund energy efficiency projects alone, with funding allotted through the European Regional Development Fund (ERDF) with the Romanian Ministry of Economy, Trade and Business Environment managing the allocation.

Companies and organisations have the opportunity to apply for funding for energy efficiency projects, such as investments in equipment and machinery, investments in installations for their energy consumption reduction and investments in upgrading, plus exploiting renewable energy resources.

Local authorities and municipalities can receive financing of up to 90 percent of the project costs while for private sector projects, developers can receive European Union funds of up to 60 percent of the costs.

Picture by Ned

Monday 15th November 2010

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