Today, the European Union has disbursed €2.967 billion via the Modernisation Fund to support 39 energy projects in 10 EU Member States. These investments will support the modernisation of energy systems, reducing greenhouse gas emissions in the energy, industry and transport sectors, and improving energy efficiency. This is the largest disbursement to date via the Modernisation Fund, bringing the total spending to €12.65 billion since January 2021. These investments help Member States to meet their climate and energy targets and contribute to the EU's long-term target of reaching climate neutrality by 2050.

The Member States benefitting from the first disbursement of 2024 are Bulgaria (€65.2 million), Croatia (€52 million), Czechia (€835.2 million), Estonia (€24.1 million), Hungary (€76.8 million), Latvia (€26.8 million), Lithuania (€59 million), Poland (€697.5 million), Romania (€1.095 billion) and Slovakia (€35 million). The projects supported today focus on renewable electricity generation, use and deployment of renewable energy sources, modernisation of energy networks and energy efficiency.