Portugal redefines priorities of the EU Modernization Fund

The Climate Agency has until December 31 to propose priority areas for EU funding aimed at modernizing energy systems and decarbonization by 2030. The government emphasizes support for electric vehicle purchases, decarbonizing heavy transport, and reducing natural gas consumption in energy-intensive industries. Minister Maria da Graça Carvalho highlighted plans for financial aid for low-income families and micro-enterprises to acquire electric vehicles, as well as a new €100 million program for decarbonizing sectors like ceramics and glass. The Modernization Fund, which Portugal will benefit from starting in 2024, aims to enhance energy efficiency and meet decarbonization targets.