The European Investment Bank (EIB) is providing a €200m loan to Romanian energy distributor Delgaz Grid to modernise its power grid in northeastern Romania. The loan can be drawn in euros or RON. This financing is part of a €630m investment programme by Delgaz Grid, which aims to improve the energy system serving over 1.5 million households and businesses.
The planned works, to be completed by 2027, will use state-of-the-art technologies to adapt the grid to clean energy sources, such as solar energy. The project focuses on modernising high, medium and low voltage power lines, as well as on network automation and the implementation of smart meters. These measures will contribute to the decarbonisation of the energy sector and ensure efficient energy distribution, including across borders.
“This initiative will increase energy efficiency, facilitate the integration of renewable energy sources and boost economic growth in the region,” said Ioannis Tsakiris, Vice-President, EIB. “Delgaz Grid’s digitalised infrastructure will become smarter and more resilient, significantly improving the distribution of energy that can power millions of households for a year.”
The planned upgrades will cover an electricity network of over 80,000 kilometres and will advance a European project known as the Carpathian Modernised Energy Network (CARMEN). This project aims to improve the interconnection and interoperability of the electricity systems in Romania, Hungary and Bulgaria by 2028.
“Our total investment of almost €630 million is dedicated to the modernisation and digitalisation of the infrastructure,” said Volker Raffel, CEO of E.ON Romania, the parent company of Delgaz Grid. “Investments in networks generate economic growth for Romania. We are focused on the challenges posed by the unprecedented development of renewable energy production capacities, the increase in the number of prosumers and charging stations for electric vehicles. This agreement is essential to improve the quality of our services, operational efficiency and the security of energy flows. We are pleased to have the EIB as a partner in developing the sustainability of the industry and in serving our customers.”