Transelectrica to implement nine projects with financing of 424 million euros through the Modernization Fund
The Ministry of Energy and Transelectrica signed the first financing contracts through the Modernization Fund for the implementation of nine energy infrastructure development projects in Romania.
The non-refundable value of the nine investment projects to be implemented by CNTEE Transelectrica S.A., with financing allocated to Romania from the Modernization Fund, is approximately 424 million Euros.
“We continue to invest in the development of the national energy infrastructure. I would like to thank my colleagues in the ministry for the efforts they made to operationalize the Modernization Fund. And today, by signing the nine financing contracts, we are taking concrete steps in this direction. I wish Transelectrica a lot of success in finalizing these very important investment objectives, which will ensure our energy security and independence”, said Virgil Popescu, Minister of Energy.
“The implementation processes of the nine investments with funding from the Modernization Fund place Transelectrica at another level of performance, contributing to the development of the Company’s status in a national and regional context. The fact that we obtained 30% of the approved financing for Romania represents a concentrated effort of expertise, experience and involvement of Transelectrica specialists. This set of large, complex projects demonstrates the Company’s long-term commitment to meeting European energy security objectives. We achieved this achievement with the support of the Government of Romania, through an excellent collaboration with the Ministry of Energy which promoted Transelectrica projects at the highest level, understanding the importance of the development of Romania’s electric transport infrastructure, especially in the current international context”, said the President of the Directorate Transelectrica Gabriel Andronache.
The nine projects that obtained funding from the Modernization Fund are:
1. Construction of a new 400 kV LEA (double circuit) Constanța Nord – Medgidia Sud, equipped with a single circuit – with a value of approximately 23 million euros;
2. Construction of a new 400 kV Gădălin – Suceava single-circuit LEA, including its interconnection to the national electricity transmission system – with a value of over 101 million euros;
3. Internal line between Reșița and Timișoara/Săcălaz (PCI 3.22.3.), consisting of a new 400 kV LEA Reșița-Timișoara/Săcălaz and in the 400 kV refurbishment of the 110/2020 kV Timișoara substation – with a value of approximately 64 million euros;
4. Construction of the 400 kV LEA Timișoara/Săcălaz/Arad – with a value of over 57 million euros;
5. Switching to the 400 kV voltage of LEA Brazi Vest-Teleajen-Stâlpu – with a value of about 51 million euros;
6. Pilot project – Refurbishment of the 220/110/20 kV Alba Iulia station – in digital station concept – with a value of approximately 47 million euros;
7. Installation of two modern reactive power compensation means in the 400/220/110/20 kV Sibiu South substations of 400/220/110/20 kV Bradu – with a value of over 52 million euros;
8. Optimizing the operation of the existing 400 kV LEA in the SEN, used in interconnection and for the evacuation of power from the Cernavodă nuclear power plant and the power plants from renewable sources in Dobrogea, by installing online monitoring systems (Smart Grid type) – with a value over 10 million euros;
9. Digitization of the electricity transmission network in Romania by installing two online systems, for the metering and management of electricity measurement data on the wholesale market and for monitoring the quality of electricity – with a value of over 18 million euros.