Finance

Independently from the actors involved or the financing mechanisms and incentives preferred, one thing everybody can agree on is that grid stability is a 'sine qua non' for a successful scale-up of renewable energy sources in CEE.

On 17 May, the Moldovan Cabinet of Ministers approved the start of negotiations and signed an amendment to receive additional budgetary aid from the United States for developing an interconnection with the EU's energy infrastructure.

The EIB has signed an agreement with utility company Teplarny Brno for a 75 million euros loan to co-finance the upgrade of the heat generation and distribution system in the City of Brno,

A new Ukraine Investment Platform has been launched, following an agreement between development finance institutions of the G7 countries and the EBRD in Tokyo on Friday.

The European Commission has given a positive assessment of Estonia's modified recovery and resilience plan, which includes a REPowerEU chapter. The plan is now worth 953 million euros in grants and covers 17 reforms and 28 investments.

Hungarian integrated oil and gas company, MOL Group delivered 714 million US dollars Clean CCS EBITDA in Q1 2023, despite regulatory headwinds and decreasing oil and gas prices. Upstream EBITDA decreased due to decreasing oil and gas prices, the extra royalty in Hungary and the regulated gas price scheme in Croatia, said the company.

Around 3.6 million euros of international donations from the Ukraine Energy Support Fund was spent on critical energy infrastructure repairs in the first quarter of 2023.

The EBRD is providing a 25 million euros loan to Turkey's Mav Elektrik to replace loans that funded the construction of the Arikcayiri biomass power plant, which is fuelled by poultry waste.

Moldova has joined the EU's Connecting Europe Facility, following yesterday's agreement signing between the European Commissioner for Transport and Moldova's Minister for Infrastructure and Regional Development.

The CEF Energy support will co-fund the preparatory studies that will help to assess the feasibility of a potential offshore wind farm of a capacity of approx. 300 MW in the Northern Adriatic coastal zone near Croatia and Italy.

European Commission has approved, under EU State aid rules, amendments to a Polish scheme to support the closure of uncompetitive coal mines.

According to the Czech Ministry of Environment, over the past two years, the country has gone through a transformation thanks to the Modernisation Fund, which was used mainly to support the growth of renewables.