June 27 (SeeNews) - Romanian electricity and gas distribution company Delgaz Grid said on Thursday it has invested 9 million lei ($2.16 million/1.9 million euro) in the development of the power distribution system in the Iasi metropolitan area.
The investment will significantly increase the connecting capacity for new consumers, while also improving the safety of the power supply, Delgaz Grid said in a press release.
Approximately 23 km of medium-voltage subterranean network was built between the transformer stations in the city and the main consumer nodes in the target area.
The programme was initiated in the spring of last year on order to respond to the need for rapid development in the metropolitan area by providing the necessary capacity for connecting newly built properties to the network.
In April, Delgaz Grid said it plans to invest over 250 million lei in smart grids in northeastern Romania in the coming years.
Delgaz Grid, a company of Germany's E.ON group, operates a natural gas network of over 22,650 km and an 81,500 km electricity grid in northern Romania.
Since 2005, E.ON has invested about 1.6 billion euro ($1.8 billion) in the modernization of gas and electricity grids in Romania and paid over 2 billion euro in taxes.
Last year, Delgaz invested 487 million lei in the modernization of the electricity and gas networks.
(1 euro= 4.7199 lei)