The European Investment Bank (EIB) has granted a loan of CZK 5 billion (some EUR 182 million) to finance reinforcement and modernisation of the electricity transmission infrastructure in the Czech Republic.
The EIB loan will support the implementation of 23 transmission schemes operating at voltages of 110 kV, 220 kV and 400 kV, including the modernisation of control and protection systems in substations. The network upgrade is geographically dispersed throughout the whole territory of the Czech Republic.
Mr Wilhelm Molterer, EIB Vice-President responsible for lending in the Czech Republic, commented: “The upgraded electricity transmission network will increase the reliability and quality of electricity supply to meet the growing electricity demand in the Czech Republic and to reduce congestions in the Central and Eastern Europe region. This will have positive implications for integration of the electricity market and renewable energy sources”.
ČEPS, a.s. (Czech Republic’s Energy Transmission Network Company) is the promoter of the project and the final beneficiary of the EIB loan. The current operation builds up on the excellent cooperation between the EIB and ČEPS, a.s. Back in 2010, the EIB provided a loan of EUR 45 million to ČEPS, a.s,, which has been successfully used for financing the company’s Electricity Grid Project.