Funding will be guaranteed by Electrica SA, shareholder of Electrica Furnizare, within the limit of RON1.65 billion.
This measure is included in the agenda of Electrica shareholders scheduled on March 21, 2022.
Electrica Furnizare SA was established in 2011 through the merger of former branches Electrica Furnizare Muntenia Nord, Electrica Furnizare Transilvania Nord and Electrica Furnizare Transilvania Sud.
Grupul Electrica carries out an investment program of EUR300 million which targets electricity grid upgrade projects in the counties of Prahova, Dambovita, Buzau, Braila, Galati, Vrancea, Brasov, Mures, Covasna, Harghita, Sibiu, Alba, Cluj, Salaj, Maramures, Bistrita-Nasaud, Bihor and Satu Mare.
Electrica has a stock market capitalization of RON3.4 billion and is 48.8% owned by the Romanian State. EL shares have declined by 22% over the past year amid deals worth RON215 million, in line with stock market data.