Image courtesy EBRD
The European Bank for Reconstruction and Development (EBRD) is lending RON400 million (€80 million; $87.5 million) to Romania’s Delgaz Grid SA for cabling, digitalised substations and a rollout of 272,000 smart meters.
The EBRD’s investment is part of a wider syndicated facility of RON3 billion (€600 million; $655.9 million) with seven commercial banks and will finance the modernisation and expansion of Delgaz Grid’s electricity distribution network in north-eastern Romania.
Specifically, the loan will enable the electricity and gas network operator to enhance its network with key solutions, such as new underground and overground cabling, new substations that use digitalised approaches and integrate the latest supervisory control and data acquisition (SCADA) systems, as well as 272,000 smart meters for its customers.
These improvements will further reduce electricity interruptions and losses, improving the reliability of the electricity distribution network in the region.
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The enhancements will also enable more intermittent renewable energy to be connected to the grid, supporting Romania’s 2030 renewable energy target.
As a result of the distribution network’s greater energy efficiency, approximately 13,000 tonnes of CO2 emissions are expected to be avoided annually.
According to the EBRD in a release, the investment will be used solely for the expansion and modernisation of Delgaz’s electricity distribution network.
Delgaz Grid SA operates electricity and natural gas distribution networks in the north of Romania, serving more than 3 million households.
Delgaz Grid is part of E.ON Group, one of Europe’s largest energy network and infrastructure operators and a provider of solutions to 50 million customers.
To date, the EBRD has invested more than €10.8 billion ($11.8 billion) in 523 projects in Romania, focusing on financing infrastructure, boosting private sector productivity and further developing the financial sector and capital markets.
