EBRD supports Romania’s electricity distribution network upgrade

The EBRD is lending the equivalent of EUR 100 million in Romanian lei (RON 500 million) to distribution subsidiaries of Public Power Corporation SA, operating in South-Eastern and Western Romania, part of a RON 1 billion (EUR 200 million) syndicated loan alongside three local lenders to modernize and digitalize the electricity distribution networks, making them better able to absorb more renewable energy capacities.

The syndicated loan with ING Bank, Banca Comerciala Romana and Banca Transilvania will indirectly support Romania to achieve its ambitious target of raising the share of renewable electricity in its energy mix to 36,2% by 2030, through the addition of 11,9 GW of new capacity. The upgrades will also enhance energy efficiency and reduce losses in the distribution grid, saving about 31 800 tonnes a year of carbon dioxide equivalent emissions.