The Electrica Group, through the operator Distributie Energie Electrica Romania (DEER), attracted non-refundable European financing, through the Modernization Fund, in the amount of 57 million euros.
According to a company's release, the amount represents 80% of the eligible expenses for four investment projects in the electricity distribution grid, 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 Chirita, general manager of Electrica.
"It is a great achievement that we succeeded, 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 financing sources attracted from the Modernization Fund," said Mihaela Rodica Suciu, general director of DEER.
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.
Since July 2014, Electrica has been a company with majority private capital, listed on the Bucharest and London stock exchanges. Electrica is the only listed Romanian company in the field of electricity distribution and supply.AGERPRES
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