This is the largest European investment received through Transelectrica, the state-owned company that operates Romania’s electricity grid. The money will be used to build or upgrade several power lines and plants, increasing grid security and enabling more renewable energy projects. to be installed, Transelectrica said. [EPA-EFE/ROBERT GHEMENT]
Romanian electricity grid operator Transelectrica will take advantage of energy investments valued at more than 420 million euros financed through the EU Modernisation Fund, according to financing contracts signed in Bucharest on Monday.
This is the largest European investment received through Transelectrica, the state-owned company that operates Romania’s electricity grid. The money will be used to build or upgrade several power lines and plants, increasing grid security and enabling more renewable energy projects. to be installed, Transelectrica said.
“Today we sign the first financing contracts for the Modernization Fund, opening the largest EU budget for the progress of Romania’s energy sector,” Prime Minister Nicolae Ciuca said at the signing ceremony.
“The total financing, valued at more than €13 billion, will lead to a truly comprehensive transformation of the national energy infrastructure, which is decisive for Romania to achieve energy independence,” he added.
The Modernisation Fund is an EU programme that helps 10 EU states meet their 2030 energy targets by helping them modernise their energy systems and efficiency.
(Bogdan Neagu | EURACTIV. ro)