Romania, EIB will intensify their cooperation in order to consolidate and accelerate the investments

, SEE Energy News

Romanian electricity transmission system operator Transelectrica and the European Investment Bank (EIB) will intensify their cooperation in order to consolidate and accelerate the investments in the Romanian electricity network.

The technical collaboration consultancy, whose role is to facilitate and streamline investment processes in the field of energy, was agreed on 23 February.

Transelectrica operates high voltage electricity transmission lines, managing a network of 8,931 kilometers, as well as 81 substations throughout the country. Cooperation with the EIB will bring together best practices to increase the pace of future investments in the electricity grid, improve the course of public tenders and procurement, and manage energy projects.

EIB Vice President Christian Kettel-Thomsen said that the bank is collaborating with Romanian partners in the energy sector in order to consolidate high-impact energy investments throughout the country. EIB is pleased to conclude its first consultancy agreement with Transelectrica to support transformational investments to accelerate future projects needed to increase the capacity of Romania’s electricity network, so that increased energy demand can be met and lead to improved service quality.

President of Transelectrica’s Management Board Gabriel Andronache said that the agreement signed with the EIB will be an important step in decongesting the processes and accelerating the investments that Transelectrica has foreseen in the 10-year Electricity Transmission Network Development Plan. At the moment, in order to align with European targets, the infrastructure of the electricity transmission system requires major, impactful investments, which can make it possible to increase transmission capacity and integrate renewable energy. Therefore, Transelectrica will closely follow the new approaches and opportunities that will exist based on the Consultation Agreement signed with the European Investment Bank.

The European Investment Bank has provided over 1.2 billion euros to energy investments throughout Romania since 1991.