German utility E.ON to invest over 375 mln euro in Romania by 2023

01/07/2020 09:28 Energy Market

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German utility E.ON said on Tuesday it plans to invest about 375 million euro ($422.5 million) in Romania during the period 2020-2023, through its two local subsidiaries Delgaz Grid and E.ON Energie Romania.

Some 210 million euro will be invested in the automation of the electricity distribution system, the modernization of networks and substations, transformer replacements and connecting new consumers to the grid, E.ON said in a press release.

 

Investments in the gas distribution network will amount to 165 million euro, mainly for the replacement of pipes and connections, extension of the network and metering.

 

E.ON said it has invested 1.1 billion euro in modernization of the natural gas and electricity networks in Romania during 2005-2019. During the same period, E.ON has contributed 2.3 billion euro in taxes to the budget of the Romanian state and local governments.

 

Delgaz Grid and E.ON Energy Romania employ 6,400 people and serve about 3.2 million customers. 

Source: seenews.com

 

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