EU to support sustainable energy initiatives in Hungary

The European Commission has announced that it has earmarked 2.9 billion euros to support 39 sustainable energy initiatives in 10 member states, with Hungary receiving 76.8 million euros for the upgrade and development of sustainable district heating. The funding was paid through the EU’s Modernization Fund, set up in 2021 to funnel revenues from auctioning emission allowances to upgrades furthering the EU’s climate goals. Projects were funded in Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia. The Fund aims to support schemes helping EU member states in achieving their climate and energy policy goals and contribute to the EU achieving climate neutrality by 2050. Besides the 10 states participating in the project, the Modernisation Fund also supports Greece, Portugal and Slovenia.