Delgaz Grid takes €600 M syndicated loan for network modernisation
Delgaz Grid has contracted a RON 3 billion (€600 million) syndicated loan for cabling, digitalised substations and a rollout of 272,000 smart meters.
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Romania, Bucharest: Delgaz Grid has contracted a RON 3 billion (€600 million) syndicated loan for cabling, digitalised substations and a rollout of 272,000 smart meters.
Delgaz Grid is a subsidiary of E.ON that operates electricity and natural gas distribution networks and serves over 3 million households in north-east Romania. The loan was extended by a syndicate formed by the European Bank for Reconstruction and Development (EBRD) as the primary lender (€400 million) and seven commercial banks.
According to the EBRD, the investment will be used for the expansion and modernisation of Delgaz’s electricity distribution network. The loan will enable the company to enhance its network with 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. The upgrades should also enable more intermittent renewable energy to be connected to the grid, supporting Romania’s 2030 renewable energy target.
Source: Romania Insider