During September 2020, the executive government of Romania approved, among other draft regulations, the financing program entitled "ELECTRIC UP" for the installation of photovoltaic panel systems, as well as charging stations for electric and electric hybrid vehicles.

The eligible beneficiaries of the program are SMEs activating in the field of Hotels, Restaurants, Cafes (HORECA) such as:

1. Small and medium enterprises;

2. Representatives of the HORECA field;

3. Romanian legal entities, which have registered as main or secondary activity, according to the NACE codes, one of the activities corresponding to the HORECA field.

What will the program finance?

The financing program provides de minimis aid to small and medium-sized enterprises beneficiaries to stimulate the establishment and development of small and medium-sized enterprises, as well as to economic operators operating in the HORECA system in order to install photovoltaic panel systems for electricity production with an installed power of minimum 27 kWp and a minimum 22 kW recharging station for plug-in hybrid electric and/or electric vehicles.

Funding granted:

- maximum amount of 100,000 euro/beneficiary, representing a maximum of 100% of the price of eligible expenses.

- advance of up to 30% of the total eligible expenditure may also be granted, only to the beneficiaries that present a guarantee instrument issued by law, by a banking company or an insurance company.

The amount necessary for the implementation of the program is of maximum 476 million lei (approximately 100 million Euros) in the first financing cycle, and in the implementation process the mechanism for the settlement of payment requests will be used.

The objectives of the program are to increase the use of renewable energy sources, as well as energy efficiency, improve air quality and reduce greenhouse gas emissions, by using photovoltaic panel systems to produce electricity for own consumption and, optionally, the delivery of the surplus electricity in the national electricity network, as well as the development of the supply infrastructure of electric vehicles in the HORECA field, the stimulation of the use of plug-in hybrid electric and electric vehicles, the development of ecological transport.