The European Bank for Reconstruction and Development (EBRD) announced that it is considering to provide a 116 million euros loan to power distribution company CEZ Bulgaria, a subsidiary of Czech CEZ energy group, for the purpose of rehabilitation of electricity network.
The loan will be used to finance the company’s capital investment program in the distribution network for the period 2016-2017, including the acquisition of energy infrastructure, equipment and rehabilitation and construction of new infrastructure. This investment is expected to reduce the company’s grid losses and improve the quality of distribution services.
Alongside this investment, the EBRD is preparing a technical cooperation project with Bulgarian Commission for Energy and Water Regulation (KEVR), which will focus on providing assistance on key regulatory matters related to the upcoming market liberalization and increase the ability of the regulator, with an emphasis on the regulation of electricity networks. It will also contribute to setting new standards for business conduct in Bulgaria with the aim to reduce technical and commercial losses, leading to carbon dioxide emission savings up to 50,000 tons per year, transmits Serbia-energy.eu