Transelectrica on Monday sealed a contract worth 18.5 million euros with a consortium comprising Jacobsen Elektro-Norway and Romanian group Romelectro for the modernisation of Rosiori power plant (Satu Mare county). "Transelectrica has invested more than 400 million euros so far in the technological updating of the national power system equipment," Transelectrica officials state. The project will be financed through a state-guaranteed loan from Nordic Investment Bank. Other financing sources are Transelectrica's own sources, as well as special funds aimed at the energy sector development. The investments are also aimed at preventing the risk of extended damages to the system. Modernisation works, due to last two years, will consist in the installation of primary equipment, as well as command, control and protection devices. "The investments will thus secure low maintenance costs and high viability of a power segment that is important for the interconnection to the infrastructure of the European electrical power market," the statement reads. The financing agreements will be concluded within the following period and the contract will be kick-started by yearend, according to Transelectrica representatives. ZF
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