Romanian electricity distributor E-Distributie Banat, a subsidiary of Enel Romania, said that it
has invested around 4.8 million euros in the construction of a new primary substation in
Timisoara in western Romania.
The company also said that it will invest additional 5 million euros in the construction of
medium and high voltage networks connecting to the substation.
The Dumbravita primary substation will serve more than 5,000 customers in the Timisoara area,
including the city’s airport.
Last month, Italian energy company Enel has signed an agreement with Greek Public Power
Corporation (PPC) for the sale of all the equity stakes held by the Enel Group in Romania for
some 1.26 billion euros.
The overall transaction is expected to generate a total positive effect on the group’s
consolidated net debt of approximately 1.7 billion euros, of which almost 100 million euros in
2022 and the remaining amount in 2023, alongside a cumulative negative impact for 2022-2023
on reported Group net income amounting to approximately 1.4 billion euros, of which around
0.6 billion euros related to the release of the foreign exchange reserve to be booked in 2023.
The closing of the sale, which is expected by the third quarter of 2023, is subject to certain
conditions precedent customary for this kind of transactions, including the clearance from
competent authorities.
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Tags: E-Distributie Banat, electricity, electricity distribution, Enel, Other