Romania: EBRD’s loan to Electrica extended, SEE Energy News
Distributie Energie Electrica Romania – DEER is implementing a comprehensive investment program to upgrade its electricity distribution network as well as improve the quality of its services and operational safety. Priorities in this upgrade also include digital transformation through systems such as SCADA, which is used to monitor and control industrial processes.
The European Bank for Reconstruction and Development (EBRD) said that it is extending a 40 million euros loan to Distributie Energie Electrica Romania DEER, the electricity distribution subsidiary of the Electrica Group.
The investment program supports the roll-out of smart meters and will enable more renewable capacity to be connected to the distribution network. It will significantly improve the network’s reliability, reduce grid losses, and consistently contribute to increased renewable energy use to the detriment of conventional energy, saving about 67,100 tons of CO2 equivalent a year. CEO of Electrica Corina Popescu said that, in view of the business development opportunities and the ambitious investment plan, Electrica Group is exploring several options for diverse financing sources. The main objectives of the strategy defined for the distribution segment consider optimizations in three areas: operational performance, quality of services and optimization of costs to the final consumer. Added to these are the long-term strategic directions, focused on the business model’s development, corroborated with the preparation of the distribution networks to face the challenges of energy transition.
DEER serves more than 3.8 million consumers, both residential and industrial, in the regions of Northern Muntenia, Northern Transylvania and Southern Transylvania. It operates 198,988 kilometers of electric lines in 18 counties, covering just over 40 % of Romanian territory.