May 30 (SeeNews) - Romanian gas and electricity grid operator Delgaz Grid, a member of the E.ON Romania group, said on Monday it plans to invest 143 million euro ($153.9 million) in its distribution network in 2022.
Delgaz targets 73 million euro investments for 230 km of its gas provision operations, a 10.6% increase over the previous year’s total, the company said as part of the press release.
A further 70 million euro, out of which 15.6 million euro in EU funds, will be invested in upgrades of the electricity network, as well as the provision of smart meters.
In July 2021, Delgaz grid announced it had invested 4 million euro in upgrading its distribution network in Suceava county, northeastern Romania.
In February, the company said it would invest 28.5 million lei ($6.2 million/5.7 million euro) into upgrading three of its power transformer stations.
In April, Delgaz appointed Cristian Secosan as its new general director.
Delgaz Grid is an electricity and gas distributor, operating a 24,000 km gas network in northwestern Romania, as well as a 83,000 km electricity grid in northeastern Romania. It is part of the E.ON Romania group. According to the press release, Delgaz invested a total of 137 million euro in its operations in 2021. Based on data held by the finance ministry, Delgaz Grid booked 0 profit for 2021, as well as a total turnover of 1.61 billion lei. In 2020, the company also recorded 0 profit, along with a turnover of 1.49 billion lei.
(1 euro = 4.9429 lei)