Romania: Delgaz Grid secured a 600 million euro loan for a network upgrade
E.On’s subsidiary Delgaz Grid, which operates electricity and natural gas distribution networks serving over 3 million households in north-east Romania, contracted a 3 billion RON (600 million euros) syndicated loan for cabling, digitalised substations and a rollout of 272,000 smart meters.
The loan was extended by a syndicate formed by the European Bank for Reconstruction and Development (EBRD) as the primary lender (400 million euros) and seven commercial banks.
According to the EBRD statement, the investment will be used solely for the expansion and modernisation of Delgaz’s electricity distribution network.
The loan will enable the electricity and gas network operator to enhance its network with key solutions, such as new underground and overground cabling, new substations that use digitalised approaches and integrate the latest supervisory control and data acquisition (SCADA) systems, as well as 272,000 smart meters for its customers.
