Romania to grant EUR 259 mln for production, assembly or recycling of PV panels and batteries

The European Commission approved a EUR 259 mln grant scheme in Romania, under the Recovery and Resilience Mechanism, for encouraging investments in the production, assembly or recycling of batteries and photovoltaic cells and panels.

The aid scheme, envisaging a total estimated budget of EUR 259 mln, will be partially financed under the Resilience Mechanism.

Under the scheme, which will apply until the end of 2024, aid will be granted in the form of direct grants intended for enterprises carrying out activities in the field of production, assembly and recycling of batteries and photovoltaic cells and panels located in the areas eligible for regional aid from Romania.

The measure aims to contribute to regional development by directing aid to sectors where demand is growing, which will support the creation of new jobs that require a skilled workforce, as well as a more sustainable and competitive economy, and promote the green transition of Romania and the EU.

(Photo source: Temistocle Lucarelli | Dreamstime.com)