New financial resources available for the Czech Republic in 2021
In the framework of the recently established Modernisation Fund, as part of the revised EU Directive on Emissions Trading System, the Czech Republic will receive 4,7 bill. EUR support. These resources will be invested in power and heating plants that are producing electricity within the ETS system. Besides, projects that increase energy efficiency and develop renewable energy sources will be eligible for financial support.
The Modernisation Fund will make financial support available to Member States that have lower GDP than 60 percent of the EU average to accelerate their transition to climate neutrality by helping to modernise their energy systems and improve energy efficiency.
It is funded by the auctioning of 2 % of the total allowances for 2021-30 under the EU Emissions Trading System (EU ETS) and additional allowances transferred to the Modernisation Fund by beneficiary Member States (that opted to do so).
More information: https://ec.europa.eu/clima/policies/budget/modernisation-fund_en