Transelectrica joins forces with EIB to accelerate energy investments

Transelectrica and the European Investment Bank 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 today in Bucharest by Gabriel Andronache, President of Transelectrica Management, Florin Tataru, Member of Transelectrica Management and Christian Kettel Thomsen, Vice -president of the European Investment Bank, responsible for energy and lending operations in Romania.

Transelectrica is the National Electricity Transmission Company in Romania and operates high voltage electricity transmission lines, managing a network of 8,931 kilometers, as well as 81 power substations throughout the country. Cooperation with the European Investment Bank 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.

“The European Investment Bank is collaborating with Romanian partners in the energy sector in order to consolidate high-impact energy investments throughout the country. We are pleased to conclude our 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. electricity transmission. Investing in energy is essential to meeting climate policies and long-term decarbonisation targets,” said Christian Kettel-Thomsen, Vice President of the European Investment Bank responsible for energy and lending in Romania.

“The agreement signed with the European Investment Bank 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 “said Gabriel Andronache, President of Transelectrica’s Management Board.

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