Romania's Transelectrica Gets First Tranche of EU Grant for Electricity Line
Romanian power grid operator Transelectrica [BSE:TEL] said on Friday it has received the first tranche of 2.2 million euro ($2.63 million) of a 27 million euro grant from the European Commission (EC) to build a new electricity line. The funds will be used to start the construction of a 400 kV line between Cernavoda and Stalpu, Transelectrica said in a statement filed with the Bucharest Stock Exchange, BVB. The project will strengthen Romania's electricity transmission grid and will increase interconnection capacity between Romania and Bulgaria. The new 400 kV line will have a length of some 160 km and in order to commission it, Transelectrica must build a Stalpu 400 kV substation and expand the Cernavoda and Gura Ialomitei substations. The Cernavoda - Stalpu 400 kV line is the first project to receive funding out of the six projects of Transelectrica on the EC list of projects of common interest, Transelectrica CEO Georgeta - Corina Popescu said.