Romania: EBRD considers financial support to CEZ

, SEE Energy News

EBRD considers the CEZ DSO company support for its plan for losses reduction and smart meters installation.

The European Bank for Reconstruction and Development (EBRD) said its considering providing a senior loan 152MEUR to Romanian power distributor CEZ Distributie.

The proceeds of the loan will be used to cover CEZ Distributie’s 2015-2016 investment programme, the EBRD said in a statement.

The programme aims at reducing losses, improving efficiency and installing smart meters, as well as restructuring the company’s balance sheet in order to optimize its capital structure with the tariff methodology in place in Romania.

The investment will allow CEZ Distributie to reduce its technical and commercial losses, the EBRD also said.

CEZ Distributie, which is100%-owned by Czech energy group CEZ, operates in Romania’s south-western region.

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