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EIB lends €330M to CEZ for grid upgrades in Czech Republic

The European Investment Bank provided €330 million in financing for CEZ a. s. to upgrade and modernize its electricity distribution network in nine Czech regions.

An investment program for the extension, reinforcement and modernization of power networks will be implemented in the regions of Plzeň, Karlovy Vary, Ústí nad Labem, Central Bohemia, Liberec, Hradec Králové, Pardubice, Olomouc and Moravia-Silesia.

Upgrades include the installation of 4,160 km of new overhead and underground lines, the refurbishment of 2,475 km of lines and the addition of 861 MVA of transformer capacity on the electricity network.