The European Investment Bank (EIB) has approved a loan of 200 million euros to Distributie Energie Electrica Romania (DEER), the electricity distribution operator of Electrica Group, to modernize its electricity distribution network. This network serves around 40% of Romania, providing electricity to approximately four million households and businesses. The loan, which can be disbursed in either euros or lei, is intended to help DEER improve its service quality, boost energy efficiency, and enable the integration of renewable energy sources.
Romania’s electricity network is facing challenges due to ageing infrastructure and increasing electricity demand, making this investment crucial. The project aligns with the European Union’s RePowerEU plan, which aims to ensure affordable, secure, and sustainable energy for Europe, while also supporting the EIB’s goals for cohesion and climate action.
EIB Vice-President Ioannis Tsakiris commented, “Our investment reduces the risks of supply interruptions and contributes to energy efficiency and sustainability.” Alexandru Chirita, CEO of Electrica, also highlighted the significance of the loan, stating, “In times when we require funding for our ambitious development, the EIB’s support is a clear sign to the market that we are reliable and competitive. We are also happy to contribute to the energy and climate plans of Romania and the EU.”
