Transelectrica to invest €600 mln in development

The money will be used for network modernization and new interconnectivity lines with neighboring countries for energy imports and exports. 

Gal indicated that Transelectrica has submitted to the Economy and Finance Ministry several projects that could receive EU financing. 

One of the interconnection lines will link Romania to Serbia while the second, Romania to Hungary. The latter is facing problems, as several land owners have refused to allow work on their property. The project is considered of public utility and expropriations are required, but the current legal framework does not allow work before compensation is paid to owners. 

Transelectrica could collaborate with Austrian Verbund company for several projects, such as the undersea cable for energy transportation between Romania and Turkey, in partnership with its Turkish counterpart, Teias. However, the feasibility study for this project has been postponed for more than one year.

Another project is a market-coupling between Romania, Hungary and Austria. This would be a first in the European Union, Gal added.