EBRD lends RON 400 million to Romanian electricity and gas distribution company Delgaz Grid SA Loan to finance improvements in the electricity distribution network in north-eastern Romania Investment is part of a syndicated facility of RON 3 billion with seven commercial banks The European Bank for Reconstruction and Development (EBRD) is supporting energy security in Romania by lending RON 400 million (€80 million equivalent) to Delgaz Grid SA, an electricity and gas distribution company in the country. The EBRD’s investment is part of a wider syndicated facility of RON 3 billion (€600 million equivalent) with seven commercial banks, and will finance the modernisation and expansion of Delgaz Grid’s electricity distribution network in north-eastern Romania. The loan will enable Delgaz Grid to enhance its network with key solutions, such as new underground and overground cabling, new substations that use digitalised approaches and that integrate the latest supervisory control and data acquisition (SCADA) systems, as well as 272,000 smart meters for its customers. Improvements to the network will further reduce electricity interruptions and losses, improving the reliability of the electricity distribution network in the region. The enhancements will also enable more intermittent renewable energy to be connected to the grid, supporting Romania’s 2030 renewable energy target. As a result of the distribution network’s greater energy efficiency, approximately 13,000 tonnes of CO2 emissions are expected to be avoided annually. The EBRD’s investment will be used solely for the purposes of expansion and modernisation of Delgaz’s electricity distribution network. Delgaz Grid SA operates electricity and natural gas distribution networks in the north of Romania, serving more than 3 million households. The company is part of the E.ON Group, one of Europe's largest energy network and infrastructure operators and a provider of innovative solutions to 50 million customers. The EBRD is a leading institutional investor in Romania. To date, the Bank has invested more than €10.8 billion in 523 projects in the country, focusing on financing infrastructure, boosting private sector productivity and further developing the financial sector and capital markets.
The Atlantic Council will honor Romanian president Klaus Iohannis with the Distinguished International Leadership Award for his remarkable career, exemplary leadership of Romania, and his transatlantic and European leadership role. The Atlantic Council’s Distinguished Leadership Awards are often referred to by media as “the Washington Oscars.” Among the honorees are a European head of state, […]
The colorful rapeseed fields in the southern part of Romania have been photographed by NASA from a satellite and featured in an accompanying article titled “Golden Fields in Romania.” The spectacular images were taken last month above the area where the Olt River intersects with the Danube. According to the article, NASA personnel were impressed […]
UiPath, an AI-based company founded by Romanian entrepreneurs and listed on the New York Stock Exchange in 2021, has recruited Raghu Malpani as Chief Technology Officer. Malpani, who was Corporate Vice President at Microsoft for the Microsoft 365 Application and Data Platform will report to the Director of Innovation and the Executive President of UiPath, […]
Production and new orders rise after nine straight months of decline Business confidence picks up, while hiring is back on the agenda Cost inflation eases and selling prices rise only fractionally An improvement in the health of the Romanian manufacturing sector was signalled for the first time in the survey's history, according to the latest […]
Raiffeisen Bank Romania continues its growth strategy in personal financial planning, up 50% in the first quarter of the year in the segment of investment plans, voluntary pensions and life insurance with a savings component. At the same time, it continued to support SMEs and accelerated investments to launch new functionalities in the mobile banking […]
Road crews have begun snow removal on Romania’s spectacular mountain road known as Transfăgărășan. Since there is less snow than in other years, the road could be opened much earlier than the usual date of July 1, according to authorities. Transfăgărășan, Romania’s second-highest road after Transalpina, is being cleared of snow so it can be […]
