Romania's Transelectrica gets EUR 56.2 mln Resilience funds for PV installations and other investments

Romanian power grid operator Transelectrica (BVB: TEL) signed a financing contract worth EUR 56.2 million under the National Resilience Plan (PNRR), according to a report published on the BVB website.

The contract will finance the installation of photovoltaic generation capacities and storage facilities in 29 power stations, the modernization of Transelectrica's Smart subsidiary, the optimization of the communication network managed by the Teletrans subsidiary, and the creation of a data center, Bursa.ro reported.

"We remind you that implementing these projects will significantly contribute to the consolidation of Romania's power grid. The objective of the investment financed through REPowerEU is to increase the flexibility and to solve the bottlenecks in the electricity network to accelerate the integration of additional renewable energy capacities and to increase the degree of resilience of the network, at the same time strengthening cyber security through - a better ability to react to cyber attacks," the document states.

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