Romania's Transelectrica to invest 4.1 bln lei (880 mln euro) by 2027

26/11/2018 09:22 Electricity Market

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Romanian power grid operator Transelectrica said on Friday it plans to invest 4.1 billion lei ($1 billion/880 million euro) in network development by 2027.

Some 84% of the funding will come from regulated tariffs, while 11% will be obtained through allocation of interconnection capacity, and 5% from non-reimbursable funds.

 

Of the total amount, 47% will be used for the refurbishment of Transelectrica's transformation stations, 35% for increasing the interconnection capacity, 11% for increasing the transport capacity of Dobrogea production, 3% for increasing the transport capacity in other zones and 4% to increase consumption capacity.

 

Transelectrica booked a net profit of 98 million lei in the first nine months of 2018, up 51% on the year.

 

At the end of July, Transelectrica completed the upgrade of its Suceava station following a 24 million lei investment from its own funds.

 

The Romanian finance ministry owns some 59% of Transelectrica.

Source: seenews.com

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