International
16:36 17 July 2019
Post by: WBJ

Poland may receive PLN 17 bln from Modernization Fund

Poland may receive PLN 17 bln from Modernization Fund
source: Pixabay

In the coming decade, the European Union wants to create a new Modernization Fund; the money will come from the sale of CO2 emission rights. As 300Research experts write in their latest report, Poland would be the largest beneficiary of this mechanism, participating in as much as 44 percent of its budget. This means that the country could receive up to PLN 17 billion. However, there is one problem.

“From this source, in principle, facilities generating energy using solid fossil fuels will not be supported, which means that the funds accumulated in this fund will not be able to be used for the modernization of the national coal power industry,” the experts write in the report. Today, coal power plants dominate in Poland – in January last year they accounted for 75 percent of all energy sources.

(300gospodarka.pl)

coal
energy
modernization fund

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