The European Commission (EC) has approved Romania’s state aid scheme worth €500 million, designed to support investments in the production of advanced biofuels. Funded through the EU Modernisation Fund, this scheme will provide direct grants to companies that invest in the production capacities for bioethanol, sustainable aviation fuel, and hydrotreated vegetable oil.
The EC highlighted that this initiative aims to significantly reduce greenhouse gas emissions while minimizing the impact on agriculture compared to conventional biofuels made from food crops. In a related development, OMV Petrom, the largest oil and gas company in southeastern Europe, announced its plan to invest approximately €750 million in the construction of several biofuel plants at its Petrobrazi refinery.
