Romania state-owned electricity distribution company Electrica will invest EUR 1 billion in modernizing distribution networks between 2015 and 2018, said Dumitru Federenciuc, head of development strategy with the company, quoted by Agerpres.

The investment will also include creating virtual power centers, which will allow a better management of renewable sources. Investments will focus on areas where power outages happen more frequently.

The company distributes electricity in the regions of Muntenia North and Transylvania. Electrica listed its shares on the Bucharest Stock Exchange and London Stock Exchange earlier this year.

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