Today, the European Commission and the European Investment Bank announced the disbursement of €1.8 billion  from the Modernisation Fund to support 45 clean energy-related investments in 12 different Member States. This includes the first ever investment in Portugal, which became a beneficiary Member State in 2024.

Financed by revenues from the EU Emissions Trading System (EU ETS), this disbursement brings  total Modernisation Fund support to €20.7 billion for 294 investments since 2021. The Fund supports the modernisation of energy systems in the EU, specifically high impact projects that will reduce greenhouse gas (GHG) emissions in the energy, industry and transport sectors, and improve energy efficiency. These investments help countries meet their climate and energy targets, implement their National Energy and Climate Plans, strengthen industrial competitiveness, and reduce dependence on fossil fuel imports.

This second disbursement in 2025 adds to the €3.66 billion already disbursed in July for 34 investments, bringing the total disbursed in 2025 to €5.46 billion and the total number of investments across all beneficiary Member States to 79. This year alone, disbursements were made to Bulgaria (€50 million), Croatia (€224 million), Czechia (€1.78 billion), Estonia (€111 million), Hungary (€279 million), Greece (€163 million), Latvia (€40 million), Lithuania (€42 million), Poland (€1.44 billion), Portugal (€15 million), Romania (€1.24 billion), Slovakia (€26 million) and Slovenia (€47 million).