EIB lends Delgaz Grid 200 million USD to upgrade its electricity system in Moldova region

The European Investment Bank (EIB) is lending Romanian energy distributor Delgaz Grid 200 million USD to upgrade the electricity network in the country’s northeastern region of Moldova.

The EIB credit is part of a 630 million Euro investment programme by Delgaz Grid to improve a power system that serves more than 1.5 million households and businesses.

The planned works, due to be completed by 2027, will deploy cutting-edge technologies to make the grid more suitable for clean sources of energy such as solar power. The project focuses on high-, medium- and low-voltage power lines as well as on metering and network automation, contributing to decarbonisation of the energy sector and ensuring efficient electricity distribution across borders.

“This initiative will enhance energy efficiency, facilitate the integration of renewable energy and enable economic growth in the region,” said EIB Vice-President Ioannis Tsakiris. “The digitised infrastructure of Delgaz Grid will be smarter and more resilient, significantly improving the distribution of energy that can power millions of households for a year.”

The planned upgrades cover a power network of more than 80,000 kilometres and advance a European project known as the Carpathian Modernised Energy Network, or CARMEN, which aims to improve electricity interconnection and interoperability among Romania, Hungary and Bulgaria by 2028.

“Our total investment of nearly €630 million is for upgrading and digitising our infrastructure,” said Volker Raffel, chief executive officer of E.ON Romania, the parent company of Delgaz Grid. “Investments into grids unleash economic growth for Romania. We are addressing the challenges of an unprecedented development in renewable energy generation capacities, in the number of prosumers and electric vehicle charging stations. This agreement is essential to enhance the quality of our services, improve operational efficiency, and ensure secure electricity flows. We are glad to have EIB as our partner to further develop the sustainability of the industry and serve our clients.”