The National Power Transmission Company Transelectrica in Romania (BVB: TEL) has received EUR 56.2 million under the REPowerEu component of the National Recovery and Resilience Plan (PNRR), recently approved by the European Union Council.

The money will be used to finance three essential investment projects, two of which are dedicated to the subsidiaries SMART andTeletrans.

Specifically, EUR 29.6 million will be used to develop power storage capacities at off-grid solar generation units used by Transelectrica. Another EUR 18.2 million will be used to modernise the maintenance systems of Translectrica's power transmission and distribution networks.

Finally, EUR 8.4 million will be used to create a data centre that will improve the resilience of Transelectrica's functioning.

iulian@romania-insider.com

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