Transelectrica signs new financing contract from the Modernization Fund for innovative project in Romania

Transelectrica has signed, at the headquarters of the Ministry of Energy, the 11th financing contract from the Modernization Fund, namely, to implement the investing objective “Pilot Project DigiTEL Power Lines of the Future – Switching the 400 kV Isaccea – Tulcea West OHL from simple circuit to double circuit” with a non – refundable value of 64 million euro.

Achieving this investment will improve the performance indicators of the Power Transmission Network by ensuring a high availability of the assets of Power Transmission Network (RET), strengthening and increasing operational efficiency of RET, increasing the flexibility in operation and by lowering maintenance costs.

Ștefăniță Munteanu, President of the Directorate of CNTEE Transelectrica SA: “Transelectrica continuously fulfills with responsibility its main mission to ensure and maintain the safety of the National Electric Power System, and this funding represents a new affirmation of the commitment and potential of the modernization and digital transformation of the network, in accordance with the vision and European trends in the energy sector, and completes the amount of financing from European funds obtained by our company in the last two years, thus reaching 582 million euros. It is a real performance, which would not have been possible without the professionalism of exceptional teams from different areas of activity of the Company: access to European funds, investments, new technologies and innovation.”