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Signature(s)

Amount
€ 65,000,000
Countries
Sector(s)
Romania : € 65,000,000
Energy : € 65,000,000
Signature date(s)
5/08/2010 : € 32,500,000
5/08/2010 : € 32,500,000
Link to source

Summary sheet

Release date
12 May 2010
Status
Reference
Signed | 05/08/2010
20100072
Project name
Promoter - financial intermediary
Romanian Power Grid Network

Transelectrica SA

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 65 million.
EUR 156 million.
Location
Sector(s)
Description
Objectives

The Project aims at reinforcing and upgrading the Romanian electricity transmission network while improving the reliability and quality of electricity supply.

The project contributes to the Bank’s lending priority objectives on convergence regions and security of internal energy supply, by supporting Transelectrica’s medium-term investment programme for modernising and retro-fitting power substations within the power transmission grid.

Environmental aspects
Procurement

The project consists of eight sub-projects of which seven pertain to the refurbishment and modernisation of existing substations, thus falling under Annex II of the EIA Directive (the remaining concerning the implementation of hardware/software). The National Authority screened the eight sub-projects and did not require an Environmental Impact Assessment. The environmental impact is expected to be minor and essentially limited to the construction phase (e.g. dust emissions, traffic disturbances, noise). The compliance with EU and National Environmental legislation will be analysed during appraisal.

The procurement procedures followed and their compliance with the EU Directive on public procurement for entities operating in the energy sector will be investigated during appraisal.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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