Acasă » General Interest » Electrica gets 57 mln. euro through the Modernization Fund for grid investments

Electrica gets 57 mln. euro through the Modernization Fund for grid investments

21 June 2023
General Interest

The Electrica Group, through the operator Distribuție Energie Electrică Romania (DEER), attracted non-refundable European financing, through the Modernization Fund, in the amount of 57 million euros.

According to a statement from the company, the sum represents 80% of the eligible expenses for four investment projects in the electricity distribution network, whose total estimated value is approximately 77 million euros.

“One of the strategic objectives assumed for the next period, at the level of the distribution operator of the Electrica Group, is to substantially increase the degree of access to non-reimbursable funds for investment works. This approach is in line with the strategy at the level of the Group, which provides maximizing the performance in the managed infrastructure, but also the streamlining and digital transformation of the business. I congratulate our colleagues for their efforts and I am convinced that it is only the first step in a series of such initiatives,” said Alexandru Chiriță, Electrica general manager.

The proposed projects will be carried out mainly in the counties of Sibiu, Bihor and Maramureş, but part of the works will have an impact on all 18 counties in the DEER coverage area: Cluj, Bihor, Satu Mare, Maramureş, Bistrița-Năsăud, Sălaj, Alba, Braşov, Covasna, Harghita, Mureș, Sibiu, Prahova, Buzău, Galați, Brăila, Dâmbovița and Vrancea.

“It is a great achievement that we managed, in our investment approach, not easy, to be the beneficiary of four contracts for the modernization and expansion of the capacity of electricity distribution networks, with funding sources attracted from the Modernization Fund,” said Mihaela Rodica Suciu, general director of DEER.

According to her, DEER signed financing contracts for four important projects. It is about the 110/20kv Sibiu West Substation, the investment aimed at increasing the reliability and capacity of the medium voltage network and increasing the quality of the distributed electricity distribution service (the project completion date is June 30, 2025), the modernization of the electricity distribution networks of 110kV, in the area of the Centru-Airport-Ioșia-Mecanica substations, in the municipality of Oradea (completion date June 30, 2026), the modernization of the MV overhead power lines fed from the Sighet station: LEA (OPL) 20kV Sighet-Teceu, LEA 20kV Sighet-Costui and LEA (OPL) 20kV Sighet-Radio Vad, the main objectives of the project considering the security of electricity supply to existing consumers and producers, but also ensuring the network connection capacity of all users (completion date March 31, 2026) and about the implementation of the Subsystem asset data management – stage II, by collecting, processing and validating technical and georeferenced data related to aerial and underground electricity distribution networks at all voltage levels (IT, MV, JT) from the entire coverage area of DEER (completion deadline June 30, 2027).

“This success is yet another proof of the fact that we, Distribuție Energie Electrică Romania, through our specialists, are making every effort to achieve the assumed investment plan, of over 100 million euros, annually. Improving the level of satisfaction of the nearly 4 million of consumers of DEER, from the 18 counties, by ensuring a distribution service at high performance standards, represent our strategic objectives. We will continue to invest responsibly in our electricity distribution networks, being very attentive and focused on it calibrates our investments very well, so that we can achieve what we set out to do, without demanding too much from the clients and without exaggerating their invoices,” emphasized Mihaela Rodica Suciu.

The Electrica Group is a key player on the electricity distribution and supply market in Romania, as well as one of the most important players in the energy services sector. The group offers services to approximately 3.9 million users and has a national coverage area – with organization in three areas for the distribution of electricity: North Transylvania, South Transylvania, North Muntenia, and throughout the country for the supply of electricity and maintenance and energy services.

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