E.ON Romania Distributie to Invest 197 Mln Lei (44.5 Mln Euro) in Power Grid in 2015

The Romanian arm of German utility E.ON said on Friday it plans to invest 197 million lei ($47.6 million/44.5 million euro) this year in its power distributionnetwork in Romania's northeastern region, Moldova, about 10%lower on the year.

The company invested 222 million lei last year in the region, mainly in the upgrade of its distribution network,E.ON Distributie Romania said in a statement.

The company also said thatpower distributorE.ON Moldova Distributie has completed the upgrade of 26 substations, a project worth 35 million lei.

The project was implemented over a 32-month period, starting from July 2012. The company implemented a SCADA systemto monitor and control substations and related equipment.

Out of the total investment, 13.3 million lei came from EU funds and the state budget.

At the beginning of the year E.ON merged its power and gas distribution units into one company, E.ON Distributie Romania,which is the first integrated power and gas distributor in the country.E.ON Gaz Distributie has absorbed power distributorE.ON Moldova Distributie.

E.ON Distributie Romania operates a network of gas pipelines of more than 20,000 km and an electricity transmission network of more than 80,000 km, serving a total of3 million clients in Romania's northern counties.

E.ON has invested more than 1.2 billion euro ($1.4 billion) in Romania so far.

Source: SeeNews