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EBRD may lend EUR 152 million to ČEZ Distribuţie

Published

April 30, 2015

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Published:

April 30, 2015

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A senior loan of RON 675 million (EUR 152 million) to Romania’s ČEZ Distribuţie is being considered by the European Bank for Reconstruction and Development. The electricity distribution company is incorporated in Romania and operating in the country’s southwestern region. ČEZ Distribuţie is owned by ČEZ Group from the Czech Republic. The proceeds of the loan will be used to cover the company’s 2015–16 investment programme in the distribution network aiming at reducing losses, improving efficiency and installing smart meters, and the restructuring of ČEZ Distribuţie’s balance sheet in order to optimise its capital structure with the tariff methodology in place in Romania, the project summary note said. The investment will allow the company to reduce its technical and commercial losses while improving its saidi and saifi operational quality indicators, it said.

The proceeds will be used to cover the company’s 2015–16 investment programme in the distribution network.

The bank said this was a way to support the implementation of smart metering in Romania together with new communication equipment. ČEZ Distribuţie will be one of the country’s electricity distribution companies to roll out the programme to replace 50% of the meters by 2020. In addition the investment programme will contribute to setting new standards for business conduct in Romania since it will primarily aim at reducing technical and commercial losses, leading to CO2 emission savings of up to 285,000 tons per year.

The loan needs a board approval, and the target date is June 10.

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