Electrica’s DEER gets EUR 200 mln EIB loan to upgrade electricity distribution network in Romania

Distributie Energie Electrica Romania (DEER), the distribution operator within the Electrica Group, has taken a loan worth EUR 200 million from the European Investment Bank (EIB) to upgrade its electricity distribution network covering 40% of Romania and serving approximately 4 million households and businesses.

The loan, which can be disbursed in euro or lei, will support DEER in better serving its customers, improving energy efficiency, and facilitating the connection of renewable energy sources, according to the press release.

The electricity network in Romania urgently needs investment to address aging infrastructure in the face of growing demand for electricity. The operation aligns with the RePowerEU plan to support affordable, secure, and sustainable energy for Europe, and contributes to the EIB’s objectives for cohesion and climate action, the same source said.

Electrica Group is a key player in the electricity supply, distribution, and production in Romania. It is also a provider of maintenance services.

DEER services approximately 4 million users with a coverage of 18 counties from three geographical areas for the distribution of electricity: Northern Transylvania, Southern Transylvania, and Northern Muntenia.

As of July 2014, Electrica S.A., the holding company of the group, has been listed on the Bucharest and London stock exchanges. Electrica is the only listed Romanian company in the field of electricity distribution and supply in Romania.

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