Romanian power system operator Transelectrica plans to invest RON5.5bn (€1.1bn) over the next 10 years to upgrade its network, according to a development plan approved on August 2 by energy market regulator ANRE, the company announced.
The company issues development plans for the coming decade every two years. Majority owned by the Romanian state, Transelectrica is responsible for the transmission system and market operation, as well as grid and market infrastructure development. It also serves as the main link between power supply and demand. However, it has in the past been criticised for a lack of investment in infrastructure.
The financing sources for the new investment plan are unclear; the company said only that it “will use a balanced and adequate mix for funding the planned investments, taking into consideration all the options and tools offered both by the financial market and by grant programmes managed by European Union.”
The Development Plan of the Power Transmission Grid for 10 years sets as priorities the extension of the power transmission grid by building new lines and refurbishment of existing stations; the growth of interconnection capacity, the growth of transmission capacity between the east and the rest of interconnected National Power System; and the safety of consumption supply in poor areas and the refurbishment of existing stations.
“Thus, at the end of the year 2025, Transelectrica will manage an equipment park, updated in terms of technology, with a high degree of reliability and power efficiency,” the company added.
Romania’s Banca Transilvania (BT) has become a shareholder of Victoriabank, the third largest bank in the Republic of Moldova, with a total participation of over 66% alongside the European Bank for ... more
Romania’s government on January 12 signed a €900mn contract to buy 227 Piranha 8x8 armoured fighting vehicles (AFVs) from US producer General Dynamic, partly assembled at Uzina Mecanica Bucuresti ... more
The Romanian government is committed to taking over a 51% stake in Mangalia shipyards from Daewoo and revive the yard by producing military ships, Prime Minister Mihai Tudose said on January 10 in an ... more