Romania will receive 2.14 billion euros from the Just Transition Fund to support a just climate transition to a greener economy

, SEE Energy News

The European Commission (EC) announced that Romania will receive 2.14 billion euros from the Just Transition Fund (JTF) to support a just climate transition to a greener economy. This financing will target the most affected regions, thus helping Romania to follow up on its commitment to phase- out coal by 2032.

The funds will be allocated to six counties: Dolj, Galati, Gorj, Hunedoara, Mures, and Prahova. Two of them, namely Gorj and Hunedoara, still host active coal mining, notably in the Jiu Valley, while Dolj, Galati, Prahova, and Mures have carbon- intensive industries and coal power is used for heating.

The statement from the Commission said that the fund will support workers being affected by the ongoing energy transition to find new qualifications and new jobs, leaving no one behind. It will also support small and medium- sized businesses (SMEs) and, in specific cases, large companies to create jobs and diversify the economy in the fossil fuel production and carbon- intensive regions.

Precisely, the JTF will support the rehabilitation of brown fields in the mining sector and the rehabilitation of abandoned industrial sites by creating new green spaces, such as parks, commercial and residential areas for social housing.

Also, it will support economic diversification by financing the establishment of SMEs in sectors that promote, for example, circular economy, traditional activities like crafts, or the production of environmentally friendly construction materials. The fund will also invest in renewable and clean energy technologies like hydrogen.