Loan from the EIB
Elenia has agreed a second loan with the European Investment Bank (“EIB”) worth of EUR 100 million. Elenia’s long-term investment plan emphasises the importance of building underground electricity network and replacing old overhead lines that are at the end of their useful life to secure uninterrupted availability of electricity. The loan supports Elenia to successfully continue its capex programme. More than 50% of the network is now underground reducing outages and improving security of supply to our customers. To meet the targets of the Electricity Market Act Elenia aims to increase the underground cabling rate of the electricity distribution network to 75% by 2028. The EIB offers long-term financing for sound and sustainable investment projects which contribute to furthering EU policy objectives.