April 17, 2017
Germany’s KfW Development Bank has extended a concession credit worth EUR125 million to Georgia’s Joint Stock Company (JSC) Georgian State Electrosystem (GSE) for power network expansion and modernisation in Georgia. The loan agreement between the two parties was signed on April 13, 2017.
April 3, 2017
The European Investment Bank (EIB) has announced a loan worth EUR350 million for the ±525 kV high voltage direct current (HVDC) NordLink, first interconnection between Germany and Norway across the North Sea.
March 27, 2017
The European Union (EU) has approved the acquisition of 49.9 per cent stake in French power transmission company Réseau de Transport d'Électricité (RTE), by Caisse des Dépôts et Consignations (CDC), a local public sector financial institution.
February 23, 2017
pean Union (EU) has allocated EUR4 million from the Connecting Europe Facility (CEF) to the Celtic Interconnector project between Ireland and France, proposed by Ireland’s and French transmission system operators (TSOs) EirGrid and Réseau de Transport d’Électricité (RTE), respectively.
December 26, 2016
German KfW Development Bank has awarded a grant of EUR1.2 million to Georgia's Joint Stock Company (JSC) Georgian State Electrosystem (GSE) for the Power Grid Enhancement Project, which aims at strengthening the transmission infrastructure in Georgia.
December 16, 2016
France's state-controlled utility Electricite de France (EDF) has signed a binding agreement with state-owned bank Caisse des Depots and its unit CNP Assurances to sell half its stake (49.9 per cent) in French power transmission company Réseau de Transport d'Électricité (RTE).
December 7, 2016
Italian equipment manufacturer Prysmian Group has won a bankruptcy auction worth EUR42 million for certain assets of a high voltage (HV) cable factory in China, operated by Shen Huan Cable Technologies.
December 6, 2016
The European Commission's (EC) Innovation and Networks Executive Agency (INEA) has awarded EUR99 million for 12 smart grid and storage projects under its Horizon 2020 Research Programme.
December 6, 2016
UK's energy market regulator, Office of Gas and Electricity Markets (Ofgem), under its annual network innovation competition (NIC), has awarded GBP33 million of funding to four power projects aimed at developing smarter energy grids.
December 1, 2016
Japanese multinational conglomerate Hitachi Limited and Slovenia's state-owned electricity transmission operator Elektro-Slovenija, d.o.o. (ELES) have agreed to undertake a joint project on smart grids and smart community business in Slovenia. The project is scheduled to run for three years from November 2016 to October 2019.
November 21, 2016
Albania's transmission system operator Operatori Sistemit Transmetimit (OST) has signed a loan agreement worth EUR50 million with German development bank KfW, to finance the construction of the 400 kV, 126-km-long Albania-Macedonia link.
November 1, 2016
Croatian transmission system operator (TSO) Hrvatski Operator Prijenosnog Sustava D.O.O. (HOPS) and state-owned power utility group Hrvatska Elektroprivreda (HEP) have signed an agreement on joint coordination in the international project SINCRO.GRID with Slovenian TSO Elektro-Slovenija, d.o.o. (ELES) and distribution system operator SODO d.o.o.. It provides a basis for applying for funds from the European Union's (EU) Connecting Europe Facility (CEF).
September 8, 2016
The European Investment Bank (EIB) has agreed to provide a 19-year loan of GBP82 million to Humber Gateway OFTO Limited for the purchase, operation and maintenance of the Humber Gateway link.
September 6, 2016
The Latvian branch of Sweden's Nordea Bank has issued a loan worth EUR12 million to a consortium comprising Latvia-based companies Latvijas Energoceltnieks (LEC) and RECK LLC, and Swedish Empower, for the development of the third stage of the Kurzeme Ring energy project.
August 24, 2016
Groupe Eurotunnel, the manager of Channel Tunnel, which connects France with the United Kingdom (UK), has finalised its purchase of the 51 per cent stake of STAR Capital Partners, a UK-based private equity firm, in their joint venture (JV) ElecLink.
August 10, 2016
The European Commission (EC) has allocated EUR29.9 million for the construction of a new 140-km, 400 kV, 1,500 MW transmission line between Dobrudja in northeastern Bulgaria and Burgas on the southern Black Sea coast. This funding will cover around half of the project's total cost.
July 29, 2016
The energy ministry of Albania has received a EUR50 million loan from German state-owned development bank KfW for the construction of the 126-km-long, 400 kV Albania-Macedonia transmission line. Out of the total loan amount, EUR30 million will be immediately available and the rest will be approved later.
July 20, 2016
The third Iran-Armenia transmission line is expected to commence in September 2017. The construction work for the 400 kV line started in 2012. However, it faced several delays due to lack of funds, but is now being funded by Export Development Bank of Iran (77 per cent) and Iranian Sunir Company (23 per cent).
July 7, 2016
Germany's KfW Bank has signed a EUR25 million grant agreement with Montenegro's Economy Ministry and state transmission system operator (TSO) Crnogorski Elektroprenosni Sistem (CGES) for Montenegro's section of the Trans-Balkan Electricity Corridor.