The Ministry of Economy announces a contest to select renewable energy projects that will be financed by the Black Sea Economic Cooperation – Helenic Development Fund (BSEC-HDF), Info-Prim Neo reports. In a communique, the Ministry says that the grants amount to €50,000 and cover at most 80% of the project's cost. The other 20% are covered by the beneficiaries or from other sources. The project must involve at least one partner from the BSEC member states, including Ukraine, Romania, Bulgaria, Turkey, Georgia, Armenia, Azerbaijan, and Russia. The deadline for applications is January 31, 2011. “As the resources of the Fund are limited, those interested are encouraged to submit projects as soon as possible,” the communique says.