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C.N.T.E.E. TRANSELECTRICA - TEL

Communique-approval by the European Commission of a grant/English version

Release Date: 1/26/2018 9:46:53 AM

IRIS Code: 3B6E3

To the: Bucharest Stock Exchange – Department of Operations Issuers Regulated Markets

            Financial Supervision Authority - General Directorate Supervision - Issuers Division

 

Date of the report: 26 January 2018

Name of Issuer Company: CNTEE TRANSELECTRICA SA, company managed in two-tier system

Headquarters: Bucharest 1, Blvd. Magheru no. 33

Working location: Bucharest 3, Str. Olteni no. 2-4

Phone / fax numbers: 4021 3035 611 / 4021 3035 610

Single registration code: 13328043

LEI Code: 254900OLXCOUQC90M036

Number in the Commercial Register: J40/8060/2000

Share capital subscribed and paid: 733,031,420 Lei

Regulated market where the issued securities are transacted: Bucharest Stock Exchange

 

 

Communique

 

The National Power Grid Company Transelectrica SA informs the interested investor public that on 25 January 2018 the European Commission signed a grant amounting to 27,085,000 Euro in order to build the 400 kV electric lines Cernavoda - Stalpu. This is the first of the six projects of common interest belonging to Transelectrica included in the list reviewed in November last year, which receives financing from the European Commission.

The overhead electric line Cernavoda – Stalpu will contribute to increasing the interconnection capacity between Romania and Bulgaria and to integrating wind power from Dobrogea region.

“These last months we managed expediting the processes regarding the Cernavoda-Stalpu line and in so doing we received important support from the Government, by promoting the Governmental Decision to launch the expropriation procedures last autumn. At the same moment we also promoted the decision to launch the expropriation procedures for the Smardan-Gutinas line, which had been already preselected in the Operational Programme Large Infrastructure (OPLI) and for which we decided to submit the financing demand in June”, stated Corina Popescu, Executive Director General of Transelectrica.

The project for the Cernavoda-Stalpu line, part of the Black Sea Corridor Cluster, is one of the six major investment objectives that the National Power Grid Company Transelectrica SA carries out, which are found in the third list of projects of common interest (PCI) regarding the energy infrastructure, adopted in November last year by the European Commission. The total value of the six investments is about a billion Lei. All such projects contribute to achieving the national 400 kV ring, an objective included in the governing plan leading to higher operational safety of SEN and to an economic operational regime of the RET.

It is necessary to build this line taking into account the development prospects of the generation park from Dobrogea region. The 400 kV line Cernavoda – Stalpu will be about 160 km long, and in order to commission it one needs building the 400 kV substation Stalpu and extending substations Cernavoda and Gura Ialomitei. In accordance with the 10 Years’ Development Plan of CNTEE Transelectrica SA, the 400 kV OHL Cernavoda-Stalpu will be completed in 2020.

 

Georgeta - Corina POPESCU

Executive Director General

Directorate Chairwoman

 

 

 

 

 



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