CEPS to receive $227 million loan from EIB for power grid upgrade in Czech Republic

Czech Republic: CEPS, Czech Republic’s energy transmission network firm will receive a $227 million loan from the European Investment Bank (EIB)  to upgrade the electricity transmission infrastructure in the country.

CEPS is responsible for the maintenance and upgrading of 41 substations with 71 power transformers. The bank’s loan will support 23 transmission schemes operating at voltages of 110 kV, 220 kV and 400 kV, reports CTBR.

EIB vice-president, Wilhelm Molterer said: “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.” he added.

Source: CTBR