The RON180 million loan will support the financing of the operator’s liquidity needs. DEER will continue the activity of electricity distribution to Romanian consumers without interruption and, at the same time, will continue investments in the electricity network to ensure the integration of additional renewable energy production, a release shows
“Considering the strategy of diversifying sources of financing at the level of the Electrica Group in the context of financing the current activity, the pre-financing of the support scheme, but also the financing of business development opportunities, as well as of investment plans in the distribution network, the continuation of the partnership with the EBRD allows us, through this new term loan, to refinance part of the electricity price difference for CPT with a maturity of 5 years, aligned with the recovery of this difference through tariffs as provided by GEO 153/2022. EBRD remains one of the strategic partners of the Electrica Group, being with us since the listing,” said Alexandru Chirita, Director General of Electrica.
Electrica Group reported a consolidated net profit of nearly RON560 million for 2022, compared to a loss of RON552 million in 2021, and revenue of RON10 billion, up 39% from 2021. At end-2022, its debts stood at RON6.25 billion as compared to RON2.9 billion at end-2021, as per data from the annual financial report. EL shares have gained 2.7% so far in 2023.