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Electrica schedules investments of 715 million euros until 2018
Electrica scheduled investments of 121 million euros for this year and over 715 million euros until 2018, the company announced on Tuesday.
“On one hand we need important investments in the distribution segment, while on the other hand we already have modernization projects for improved efficiency and increasing service quality,” said the general manager of the company, Ioan Rosca in a press release.
Electrica announced at the same time the completion of modernization works of the power plant Liesti, one of the 27 plants of 110kV belonging to SDEE Galati, an important part of the National Power Grid. The investment amounted to 2 million euros, of which half came from a European grant, and was launched in 2013.
Until 2018, Electrica intends to rehabilitate about 4,000 km of low voltage grid, to make an integrated management system of active stock and install over 500,000 intelligent counters.
Electrica has national coverage and is organized into three areas for electricity distribution and supply: Transylvania North, Transylvania South, Muntenia North and at national level for maintenance and energy services. The company has about 3.5 million customers.
The main shareholder of Electrica SA is the state, represented by the Ministry of Energy, Small and Medium Companies (48.78%) followed by EBRD (8.66%).
For this year Electrica estimates a business figure of 5.66 billion lei and a net profit of 460.7 million lei. In 2014 it registered a business figure of 5.04 billion lei and a net profit of 401.4 million lei, of which 287.84 million lei represent the net profit of shareholders.