This project is for the construction of a new 110/20/10 kV Transformer Station in the Someseni district of Cluj-Napoca and aims to supply electricity to existing consumers in the eastern and metropolitan area of Cluj-Napoca, respectively Apahida commune. Someseni district and its neighboring areas, namely Apahida commune, through Sannicoara, Apahida and Dezmir villages, is an area in full development process, both industrial and residential. In addition to the transformer station, the investment project aims to upgrade 5 transformer substations, building 2 new transformer substations, upgrading 110 kV power lines (4.2 km) and building new 110 kV power lines (38.2 km).
Of the total project value of RON138.23 million (EUR27.65 million) (including VAT), the eligible costs are RON108.5 million and the contribution received through the Modernisation Fund is RON86.8 million (EUR17.36 million) (representing 80% of the eligible costs).
“For the part of ineligible costs, according to the Methodology for setting distribution tariffs, for fixed means related to investments in distribution networks made with own funds within projects co-financed by European non-reimbursable funds, put into operation starting from 1 February 2021, an incentive is established in the amount of 2 percentage points above the approved regulated rate of return,” the report shows.
Electrica has a market value of RON3.4 billion and is 48.8%-owned by the Romanian State. EL shares have gained 21.5% so far in 2023, amid deals worth RON181.9 million, as per stock market data. Electrica ended the first nine months of 2023 with a net profit of RON418 million, down 21.6% compared to the same period of 2022.