June 16, 2024
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Transelectrica signs 48 million euros deal with the Ministry of Energy

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Transelectrica signed the 10th financing contract from the Modernization Fund, for the implementation of the “DigiTEL Green pilot project – Refurbishment of the 220/110/20kV Mostiștea station”, with a non-refundable value of 48 million euros.

The contract was signed by the Minister of Energy Sebastian Burduja, and the President of the Directorate of Transelectrica Ștefăniță Munteanu. The investment project involves the transformation of the station based on a 100% digital concept with low impact on the environment. The total value of the project is over 57 million euros, of which the non-refundable financing from European funds is 48 million euros, through the Modernization Fund.

Sebastian Burduja, Minister of Energy: “This funding supports the modernization projects of the national energy system promoted by the Ministry of Energy, one of the key priorities that I have stated since taking office. Digitization is an essential condition for green energy that protects the environment and promotes efficiency. The energy of the future means high-performance technologies, which we will continue to finance at an accelerated pace. The Modernization Fund is the guarantee of Romania’s development and the transition to a new energy transition paradigm: decarbonization, decentralization, and digitization. I remind you that the objectives of Romania’s accession to the “Global Declaration on Renewable Energy and Energy Efficiency” are the tripling of the world’s renewable energy production capacity and the doubling of energy efficiency by 2030. The mission I assumed as Minister of Energy is not about the next elections, but about the next generations”.

Ștefăniță Munteanu, President of the Transelectrica Directorate: “In the context of an accelerated energy transition, the current European financing mechanisms offer consistent support regarding the investments that will be made in the coming years in energy, and Transelectrica is prepared to access all the possibilities offered. With the signing of the contract for the Refurbishment of the Mostiștea Station, we have 10 projects with non-refundable financing from the Modernization Fund, totalling more than 470 million euros. Mostiștea Station is the second project to refurbish a station in a digital concept, after Alba Iulia Station, a project that also benefits from funding from the Modernization Fund. It is obvious the Company’s commitment to investments and sustainable development of the electric transmission network to achieve the objectives of the clean economy. With the signing of this financing contract, aligned with the European strategic objectives regarding sustainable development, Transelectrica marks progress in terms of sustainability and innovation in the national energy sector. It is clear evidence that we remain committed to supporting all energy infrastructure transformation efforts throughout the transition to a climate-neutral economy.”

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