The reforms aim to accelerate green energy production

The European Commission has given the green light to Romania's amendments to its National Recovery and Resilience Plan (NRRP). This step comes in response to the country's need to take into account objective circumstances that have affected the implementation of some initial measures, including high inflation and disruptions in the supply chain caused by russia's conflict with Ukraine.

Romania's new NRRP, valued at €28.5 billion (€14.9 billion in loans and €13.6 billion in grants), has been expanded to include a dedicated REPowerEU chapter. It includes 66 reforms and 111 investments to achieve the objectives of the REPowerEU plan, which aims to achieve Europe's energy independence from russian fossil fuels by 2030, reports the European Commision. 

The reforms and investments proposed by Romania under the REPowerEU umbrella aim to accelerate green energy production, make buildings more energy efficient and train the workforce for the green energy industry. The European Commission has welcomed the changes made by Romania, recognizing the significant efforts towards the green and digital transition.

Of the 56 revised measures, 44.1% of the funds are allocated to initiatives supporting climate objectives, an increase from 41% in the original plan. The green energy sector and digitization received significant allocations, reflecting Romania's commitment to these strategic directions.

With the European Commission's approval, Romania will receive €288 million in pre-financing from REPowerEU funds. Implementation of the revised plan will be closely monitored, and success in meeting targets and milestones will pave the way for further EU funding and support.

The Council now has four weeks to approve the Commission's assessment. Once approved by the Council, Romania will receive financial assistance to continue its path of recovery and sustainable development.