The Modernisation Fund is a dedicated funding programme to support 10 lower-income EU Member States in their transition to climate neutrality by helping to modernise their energy systems and improve energy efficiency. The beneficiary Member States are Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia. It is funded by the EU ETS. The Modernisation Fund will support investments in:
Generation and use of energy from renewable sources;
Energy efficiency;
Energy storage;
Modernisation of energy networks, including district heating, pipelines and grids
Just transition in carbon-dependent regions: redeployment, re-skilling and upskilling of workers, education, job-seeking initiatives and start-ups.