Romania: Gov approves financing of cross border high voltage connection with Serbia, Transelectrica to increase capacities

, SEE Energy News

High voltage power line Resita– Pancevo, linking Romania to Serbia, will require an investment of 157.5 million USD and will be implemented in 26 months , according to a Government Decision approving the technical-economic indicators of the project published in the Official Gazette .

400 kV overhead line Resita Pancevo will have a length of 63 kilometers will include a total of 206 posts. In order to expropriate the land needed to build the power cable line, the Government approved financing from the state budget through the budget of the General Secretariat of the Government.

The project is part of the strategy of Transelectrica power company interconnection increase capacity for Romanian energy system with the neighboring countries.

National electricity carrier Transelectrica received a net profit of 226.2 million lei in the first six months of the year , more than two times higher than that of the same period last year, when it recorded a net profit of 102 million lei.

On June 30 , shareholders of Transelectrica were the following: the Romanian state through the General Secretariat of the Government – 58.6 % , Property Fund – 13.4% and other shareholders – 27.8 % .

On July 9, 2014 , the Property Fund sold through a private placement entire stake in Transelectrica .