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Distribuție Energie Electrică România secures €200 million in EU grants for network investment
Distribuție Energie Electrică România (DEER) has successfully secured €200 million in non-reimbursable European funding through the Modernization Fund. This amount represents 80% of the eligible costs for seven new network investment projects, with the total project value estimated at approximately €250 million, including VAT, according to Agerpres.
These new projects add to the list of 13 investment initiatives for which DEER previously secured around €250 million from the Modernization Fund. So far, DEER has attracted nearly €450 million from the fund, accounting for approximately 38% of the total financing signed under the Modernization Fund, with 12 more projects submitted.
“Through our group strategy, we are committed to improving the performance of the managed infrastructure and accelerating the digital transformation of our business. This achievement marks another step toward our strategic goal of accessing as many non-reimbursable funds as possible for investments,” stated Alexandru Chiriță, CEO of Electrica.
Three of the projects, valued at nearly €162 million in total, with around €131 million in grants, focus on automating the medium-voltage network across DEER’s three regions. The aim is to identify and isolate faulty network areas, improving the quality parameters of distributed electricity and enhancing distribution service performance by increasing service continuity.
05.08.2024 / Editor, Andreea Dragan
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