EIB finances Czech electricity distribution network upgrade
The European Investment Bank will finance an investment programme to upgrade the electricity distribution network in the Czech Republic.
Czech energy utility CEZ will receive a €330 million loan, which will be used to modernise the network across nine regions, including Central Bohemia, Liberec and Olomouc.
The project will see the installation of 4,160km of new overhead as well as underground lines, refurbishment of 2,475km of lines and setting up an additional of the transformer with 861MVA capacity on the electricity network.
Additionally, the funding provided by the EIB will be used for the installation of automation and tele-control systems. About 20,000 new users are expected to benefit from reliable electricity supply annually under the investment programme.
