The Board of Directors of the Electrica Group approved the consolidated value of the investment plan (CAPEX) for the year 2024, in the total amount of over 1.12 billion lei, about 878 million lei representing the annual financial plan for the investments of Distribuție Energie Electrică Romania (DEER), member of the Group – the largest distribution operator in Romania, which serves approximately 4 million users in 18 counties, according to Transilvania Business.
“We appreciate the fact that investments in electricity distribution are a priority for the Electrica Group, as evidenced by the amount approved by the Board of Directors for the implementation of the investment plan assumed by DEER. Our strategic objective is to make the necessary investments for the development and modernization of distribution networks. We fulfilled and even exceeded the investment plan assumed for the year 2023, and our firm commitment is to implement a very ambitious investment program in 2024 as well and to continue, on the same line, in the following years,” said Mihaela Rodica Suciu, CEO of DEER.
“For us, electricity distributors, the energy transition means, first of all, smart grids – automation, digitization, artificial intelligence, drones, robots, the integration of innovative technologies at a stage where distribution networks turn into distribution systems, in active and participatory networks. The energy transition also means massive investments for connecting prosumers, for electric vehicle charging stations, it means energy efficiency through real-time energy measurement using smart metering systems. And the investments we make, digitization, the innovative technologies we strive to implement represent not only the future, but the obligation we have assumed for the development of distribution networks. Our mission, at DEER, is to bring the future into the present,” added Mihaela Rodica Suciu.
DEER has planned total investments of around 100 million euros, annually, from its own sources, from distribution tariffs, but also important financing from other sources, for the modernization of the networks and their transformation into smart networks. One of the strategic objectives assumed and fulfilled by the company is to substantially increase the level of access to non-reimbursable funds for investment works. Until now, DEER has signed 13 financing contracts, worth 333 million euros, of which 259 million euros are non-refundable, for investments in the modernization and development of the network, digitization and efficiency of business processes, with the aim of offering users high quality services.