Transelectrica to contract 65 mln euros loan for investments

The Romanian power grid company Transelectrica is to contract a loan in the value of 65 million euros to be added to the financing sources necessary for some investment projects, in the aim to upgrade the power stations installations, according to an information released to Bucharest Stock Exchange.

The fresh loan providing added funds to financing of Transelectrica Investment Programme in 2010 was approved by the Administration Board in its meeting.'Transelectrica investments in 2010 will be higher than those in 2009, at a level of more than 400 million lei and will be covered in a proportion of 70 percent through loans', director general of the power company Adrian Baicusi told Agerpres.

The loan will be guaranteed through leasing receivables, real estate guarantees and other guarantee types.Transelectrica is the Power Transport and System Operator in Romania, dealing with operations, maintenance, modernization and development of the power grid, formed of 79 power stations with a capacity of 35,506 MVA and more than 9,028 kilometers of air power lines of 110 KV, 220 KV, 400 KV and 750 Kv, managed by eight transport branches.