Press Release – september 22nd 2015
- Electrica, ambitious investment plan: over 715 million by 2018
- 2 million for the modernization of the Lieşti power station
Electrica continues the most ambitious program of investments in the network of all the distribution operators, for the current regulatory period. The investment plan of Electrica, approved by ANRE, provides for 2015 an investment volume of over 121 million euros, and by the end of the current regulatory period (2018), the leader in the distribution and supply of electricity in Romania has scheduled investments of over 715 million euros.
LIESTI SUBSTATION MODERNIZATION
Part of this ambitious plan is the investment of almost two million euros in the modernization of the 110/20 kV Lieşti substation, one of the 27 110kV substations of SDEE Galati branch, a very important hub for the national power system (SEN). The transit of electricity between Braila, Vrancea and Galati and the electricity supply of the respective area is done through Lieşti substation.
Started in August 2013, the Liesti substation modernization involved replacing old equipment with modern one to substantially reduce the number of interruptions, to increase efficiency by reducing electricity network losses, as well as to reduce operating and maintenance expenses.
The investment was co-financed by the European Regional Development Fund, on the basis of the financing contract signed with the Ministry of Energy, Small and Medium Enterprises and Business Environment.
The total value of the modernization works was over two million euros (8,929,48491 lei), out of which 940,000 euros (4,153,553.39 lei) represent non-reimbursable financial assistance. The works were completed by 9 July 2015, by which time all the equipment was put into operation. This led to an increase in the degree of safety and continuity of the electricity supply in the area, to a reduction of repair and maintenance costs, and to better security of the electricity installations.
- Electrica succeeded in the first 6 months of this year to increase the investments in the electricity networks by over 21% compared to the same period of 2014
- Until 2018 Electrica aims the transition to 20 kV of approximately 3,000 km of the medium voltage lines and of a total of 2,400 transformer stations, with the rehabilitation of more than 1,000 cells in the power stations.
- In the current regulatory period (2014-2018), the intention is to replace more than 6,000 medium voltage transformers with low losses transformers, as well as the replacement of 80 110 kV transformers with low losses transformers with power in the 10-40 MVA range.
- Rehabilitation of approximately 4,000 km of low voltage network in the next three years
- Decentralization of the low voltage network by construction of 800 km new medium voltage network and the installation of more than 4,000 small transformer points
- Mounting in installations over 500,000 smart meters by integrating them into the tele-management systems by 2018
- An integrated asset management system (ASSET MANAGEMENT) is planned to be implemented in the same period, through the integration of 437 substations, 26,000 transformer stations, of over 50,000 km of medium and high-voltage network and of over 85,000 km of low voltage network.
Ioan Roșca, General Director Electrica SA: “Our business strategy is based on implementation of a very ambitious investment plan, which is already in progress. On one hand investments in the distribution segment are necessary, on the other hand we have modernization projects already ongoing, projects aimed to improve efficiency and to increase the quality of services. Beyond the obvious benefits for the customers and the positive effect on our operational results, this effort will also be reflected in the direct contribution to the development of the Romanian economy “.
FINANCIAL CALENDAR FOR 2015
|Release of interim report – 3rd quarter of 2015 (January-September)||November 16, 2015 (Monday)|
|Investor and analyst conference for 3rd quarter of 2015 financial results presentation||November 19, 2015 (Thursday)|
The above dates are tentative and may be updated on the Electrica’s website at www.electrica.ro, in the Investor Relations section.
ELECTRICA S.A. is the leading player on the Romanian electricity distribution and supply market, and one of the major players in the energy services sector. The Company’s top position is backed up by its economic results, and the experience in the field of nearly 120 years.
ELECTRICA S.A. has national coverage, with geographical coverage for the three subsidiaries in the distribution segment in the Northern Transylvania, Southern Transylvania and Northern Muntenia areas, and covering the entire country for the supply segment, as well as for the maintenance and energy services.
More information about Electrica may be obtained from its website (www.electrica.ro)