TSC member ČEPS, the Czech transmission system operator (TSO), is lucky to report that the European Investment Bank (EIB) has granted a loan of CZK 3bn (about €111m) for investments into the modernisation and development of the Czech transmission system. The credit agreement includes 25 grid projects and the first tranche is expected in June 2018.
In combination with other loans and the company’s own financial resources, ČEPS is now in the position to implement its investment program for the time period 2016-2020 entirely. Among the key projects are the construction of a new 420kV substation in Vítkov in the Moravian-Silesian region, the extension of the Přeštice substation in the region of Plzeň and the conversion of the Chodov substation in Prague, the capital and largest city of the Czech Republic. All these measures contribute to the stability, safety and efficiency of the Czech transmission system.
Jan Kalina, Chairman of the ČEPS Board of Directors, affirms that the loan complies with the TSO’s long-term financing strategy and comments that it “will ensure the reliable performance of our investment program under favorable conditions”.
> See ČEPS press release (html)
Picture: European Investment Bank
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