REG - Soc EnergElectricaSA - Electrica attracted EUR 3.4 mn. for energy storage

Societatea Energetica Electrica SAAnnouncement

17/09/2024 11:45

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RNS Number : 5383E  Societatea Energetica Electrica SA  17 September 2024

Announcement - 17 September 2024

Electrica has attracted non-reimbursable funds of approximately 3.4 million
EUR through PNRR

for electricity storage

Electrica informs its shareholders and investors that it has attracted
approximately EUR 3.4 million in non-reimbursable European funds through PNRR
(National Recovery and Resilience Plan) for the project "Construction of
electricity storage capacity, related installations, transformer stations and
the transformer station, internal electric networks, fencing, connections to
the National Energy System (SEN) and access roads" which will be implemented
in Fantanele, Mures County, within the project call PNRR/2022/C6/M
ENERGY/Investment I.4 - Industrial chain for the production and/or assembly
and/or recycling of batteries, cells, and photovoltaic panels (including
auxiliary equipment), as well as new electricity storage capacities -
Sub-measure 4.3 - Supporting investments in new electricity storage capacities
(batteries).

The installed electric energy storage capacity from this project is 69.93 MWh
and the total project value is approximately 21.8 million EUR excluding VAT,
of which the value of non-reimbursable funds is approximately 3.4 million EUR,
around 20% of the total eligible value. (Note: EUR values have been estimated
at an exchange rate of 4.9743 RON/EUR.)

"We are pleased to share that we managed to be among those who will access
PNRR funds under this pillar, a much-needed stimulus in the context of the
accelerated energy transition. This achievement represents yet another step
toward our strategic goal of accessing as many non-reimbursable funds as
possible for investments. The electricity battery storage technology offers
multiple benefits, the most important being flexibility and network stability,
necessary for integrating renewable energy sources. It can also contribute to
cost reduction and protection of the critical infrastructure", stated
Alexandru Chirita, Electrica's CEO.

We remind you that this is the second project through which Electrica accesses
funds through the PNRR, after obtaining financing for the Satu-Mare 2
photovoltaic project in October 2023 (developed by its subsidiary Sunwind
Energy SRL), with an installed capacity of about 27 MWp, a project that is
planned to be completed this year.

Romania's National Recovery and Resilience Plan is a strategic document that
defines investment priorities and essential reforms for economic recovery and
sustainable growth, with objectives of green and digital transitions promoted
by the European Commission.

 

Contact details:

Electrica Investor Relations

E-mail: ir@electrica.ro (mailto:ir@electrica.ro)

Phone: +40 731 796 111

 

CEO

Alexandru-Aurelian Chirita

 

CBDO

Ioana-Andreea Lambru

 

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