EIB disburses second tranche of EUR 210m loan to Romanian company Electrica

The European Investment Bank (EIB) has confirmed the disbursement of 90 million euros to the electricity distribution company listed on BVB Electrica, the second tranche of the financing of 210 billion euros over 15 years extended to support the investment plan of 300 million euros in energy infrastructure pursued by the Electrica group. .

The plan will support the strengthening and modernization of the electricity distribution network in the country, including the modernization and construction of new power lines, the construction and renovation of power substations and the installation of components for automation. network throughout Romania.

The extension of the network will allow the connection of more than 180,000 new customers and will unlock a greater use of renewable energies in Romania in the years to come.

“The European Investment Bank is pleased to provide € 210 million to support Electrica’s € 300 million national investment program aimed at increasing the use of renewable energy, improving grid capacity and to achieve long-term decarbonisation goals. The latest EUR 90m financing agreed with Electrica reflects the rapid progress of the transformation initiative and the joint commitment of the EIB and Electrica to unlock greater use of renewable energy, ”said Christian Kettel- Thomsen, Vice-President of the European Investment Bank responsible for energy and lending. operations in Romania, Bursa.ro reported.

Electrica Group provides services to approximately 3.8 million users and has a national reach – with coverage of 18 counties in three geographic areas for electricity distribution: Northern Transylvania, Southern Transylvania, Northern Muntenia and in the whole country for the supply of electricity, maintenance and energy. services.

Since July 2014, Electrica is a company with majority private capital, listed on the Bucharest and London stock exchanges.

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