REG - Soc EnergElectricaSA - Electrica attracted non-reimbursable Eur 6.25 mn

Societatea Energetica Electrica SAAnnouncement

30/06/2023 13:30

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RNS Number : 5930E  Societatea Energetica Electrica SA  30 June 2023

Announcement

Electrica Attracted Another Non-Reimbursable Financing in the Amount of EUR
6.25 million Through the Modernisation Fund

Electrica announces to shareholders and investors that its subsidiary
Distributie Energie Electrica Romania (DEER) has attracted another
non-refundable European financing through the Modernisation Fund in the amount
of EUR 6.25 million, representing 80% of the eligible expenses for an
investment project in the electricity distribution network, a project whose
estimated value is approximately EUR 8.26 million (without VAT).

This project completes the list of the 4 investment projects for which DEER
already attracted EUR 57 million through the Modernisation Fund (Electrica
sent a press release to the capital market on 29 June 2023: IRIS code 647D5,
LSE code: RNS 1969D).

The project is for the Modernisation of the 110 kV LEA Pogoanele - Jugureanu,
Buzau county, aims to modernize 26.4 km of the 110 kV LEA, with a deadline of
April 2027, and the objective of the project is to increase the reliability
and capacity of the high voltage network, increase the quality of the service
of distribution of distributed electricity, ensuring the security of
electricity supply for existing users, as well as ensuring the possibility of
connecting future consumers and producers.

Note: the values in EUR were estimated at an exchange rate of 4.9634 RON/EUR

The Modernisation Fund is a financing instrument that contributes to the
objectives of the European Climate Pact by supporting a socially just
transition towards a green economy. More details about the Modernisation Fund
can be found on the official websites:

·    https://modernisationfund.eu/ (https://modernisationfund.eu/) (only
in English)

·    https://oportunitati-ue.gov.ro/program/fondul-pentru-modernizare/
(https://oportunitati-ue.gov.ro/program/fondul-pentru-modernizare/)  (in
Romanian and English)

·    https://energie.gov.ro/category/fondul-pentru-modernizare/
(https://energie.gov.ro/category/fondul-pentru-modernizare/) (only in
Romanian)

 

Contact details:

Electrica Investor Relations

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

Telefon: +40 731 796 111

 

 

CEO

Alexandru-Aurelian Chirita

 

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