The European Investment Bank (EIB) plans to support the deployment of renewable energy and advanced meters in Romania with a €120 million loan. The bank is to reinforce and modernise the electricity distribution grid including upgrading and constructing new power lines, constructing and refurbishing power substations and installing components for network automation across Romania.
The 15-year financing will be used by DEER, the electricity distribution subsidiary of the Electrica Group, to connect more than 180,000 new customers, increase network capacity and improve the reliability and quality of electricity supply.
It will also support the rollout of advanced metering and the integration of renewable energy generation such as solar and wind, supporting the green transition in Romania.
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