Transelectrica gets EUR 424 mln for investments under Modernization Fund
Romania received EUR 424 mln from the EU budget under the Modernization Fund to develop its energy infrastructure. The money will finance nine projects developed by transport and system operator Transelectrica, which sketch an investment strategy that requires EUR 2 bln funding.
The money received under the Modernization Fund is the largest financing from European funds accessed by the company.
The investment objectives, approved by European Commission Decisions, will lead to the modernization of electricity transmission capacities and the improvement of energy efficiency by building new overhead power lines and their interconnection to the national power grid (SEN), the construction or retrofitting of some new power stations, optimizing the operation of some overhead power lines, including through the installation of Smart Grid-type online monitoring systems and the digitization of the electric transport network.
The major benefits of these investment projects are increasing the transmission capacity by approximately 1700 MW; building about 480 kilometres of new overhead power lines; expanding 5 power stations with a voltage level of 400 kV; re-engineering in a digital concept - a first for Romania - of the Alba Iulia Station; increasing the interconnection capacity by 600 MW (cumulative on the borders with Serbia and Hungary); implementing electricity quality monitoring systems in 15 stations; and optimizing and monitoring aerial electrical lines through digital systems.
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