EIB and ČEZ Partner on €400 Million Loan to Enhance Czech Energy Infrastructure and Green Transition
(IN BRIEF) The European Investment Bank (EIB) is lending €400 million to Czech energy provider ČEZ to modernize and expand the country’s electricity distribution grid, enabling the integration of up to 5.5 gigawatts of renewable energy. The project, aligned with the EU’s REPowerEU strategy, aims to enhance energy independence, improve power reliability, and support the green transition. Scheduled for completion by 2026, this initiative follows a €790 million loan in 2022, with EIB’s total funding for ČEZ reaching nearly €2.8 billion to advance sustainable energy infrastructure in the Czech Republic.
(PRESS RELEASE) LUXEMBOURG, 2-Dec-2024 — /EuropaWire/ — The European Investment Bank (EIB) has approved a €400 million loan to ČEZ, the Czech Republic’s leading energy provider, to modernize and expand the nation’s electricity distribution grid. This funding aims to bolster the integration of renewable energy sources, improve power reliability for businesses and households, and strengthen the country’s energy independence.
ČEZ plans to utilize the loan to refurbish its distribution networks, introduce advanced remotely controlled energy systems, and develop infrastructure capable of accommodating up to 5.5 gigawatts of new renewable energy from sources like wind and solar. These efforts align with the European Union’s REPowerEU strategy to reduce reliance on Russian fossil fuels and expedite the green energy transition.
EIB Vice-President Kyriacos Kakouris emphasized the significance of this collaboration, stating, “This investment modernizes the Czech Republic’s electricity grid while accelerating renewable energy integration. It highlights our shared commitment to energy resilience and sustainable growth.”
ČEZ Chief Financial Officer Martin Novák underscored the company’s dedication to modernization and decarbonization, noting, “Our investments are transforming the electricity distribution landscape, introducing cutting-edge technologies, and meeting the growing demand for faster, more efficient energy solutions.”
The modernization projects funded by this loan are expected to be completed by 2026. This new financing builds on a €790 million EIB loan granted to ČEZ in 2022, bringing EIB’s total funding for ČEZ to nearly €2.8 billion. These investments reflect EIB’s strategic focus on climate action, energy efficiency, and fostering economic and social cohesion across Europe.
Background information
About REPowerEU
The loan to ČEZ furthers the objectives of the European Commission’s REPowerEU plan, created in response to the hardships and global energy market disruption caused by Russia’s war of aggression. The plan aims to save and produce clean energy, diversify energy supplies, and is backed by financial and legal means to build the new energy infrastructure that Europe needs. REPowerEU sets out a series of measures to rapidly reduce dependence on Russian fossil fuels, fast-forward the green transition, and increase energy system resilience EU-wide. These measures include finding alternative energy supplies, making behavioural changes to save energy, and spurring investment in renewable energy.
In 2022, the European Commission introduced the REPowerEU plan to accelerate the green transition. In 2023, the Bank’s investments in this plan rose to €21 billion. The EIB Group will provide €45 billion in additional support to the REPowerEU plan over five years by financing businesses and public authorities working on clean energy projects. This includes financing EU manufacturing in strategic net-zero technologies and the extraction, processing, and recycling of critical raw materials. The funding will be fully deployed by 2027, and it is expected to mobilise more than €150 billion in investment for targeted sectors.
Over the past decade, the European Investment Bank (EIB) Group has channelled around €108 billion into the European Union’s energy sector and additional finance for clean energy projects around the world. These investments are now helping Europe switch to clean energy sources and sharply reduce its reliance on Russian gas.
The European Investment Bank (EIB)
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The EIB supports projects that make a significant impact on economic growth, innovation, and job creation. It is also one of the largest providers of climate finance, supporting projects that contribute to environmental sustainability and the fight against climate change.
ČEZ
ČEZ is one of the biggest companies in the Czech Republic and a leader in European energy utilities, operating in Western and Central Europe. ČEZ is committed to setting an example and making the energy sector sustainable, greener and friendlier to our planet. It strives for more diversity, for closer cooperation with communities and to always offer the best technological and energy-saving solutions to the customers. The ČEZ strategy — Clean Energy of Tomorrow — aims to significantly increase the number of renewable energy sources in the company’s portfolio, as well as among its customers. ČEZ aims to be climate-neutral by 2040.
Media Contact:
Press Office
[email protected]
+352 43791
SOURCE: European Investment Bank
MORE ON EUROPEAN INVESTMENT BANK, EIB, ETC.:
EDITOR’S PICK:
New IDTechEx Report Predicts Regulatory Shifts Will Transform the Electric Light Commercial Vehicle Market
Almost 1 in 4 Planes Sold in 2045 to be Battery Electric, Finds IDTechEx Sustainable Aviation Market Report
Digi Communications N.V. announces the release of Q3 2024 financial results
Digi Communications NV announces Investors Call for the presentation of the Q3 2024 Financial Results
Pilot and Electriq Global announce collaboration to explore deployment of proprietary hydrogen transport, storage and power generation technology
Digi Communications N.V. announces the conclusion of a Memorandum of Understanding by its subsidiary in Romania
Digi Communications N.V. announces that the Company’s Portuguese subsidiary finalised the transaction with LORCA JVCO Limited
Digi Communications N.V. announces that the Portuguese Competition Authority has granted clearance for the share purchase agreement concluded by the Company’s subsidiary in Portugal
OMRON Healthcare introduceert nieuwe bloeddrukmeters met AI-aangedreven AFib-detectietechnologie; lancering in Europa september 2024
OMRON Healthcare dévoile de nouveaux tensiomètres dotés d’une technologie de détection de la fibrillation auriculaire alimentée par l’IA, lancés en Europe en septembre 2024
OMRON Healthcare presenta i nuovi misuratori della pressione sanguigna con tecnologia di rilevamento della fibrillazione atriale (AFib) basata sull’IA, in arrivo in Europa a settembre 2024
OMRON Healthcare presenta los nuevos tensiómetros con tecnología de detección de fibrilación auricular (FA) e inteligencia artificial (IA), que se lanzarán en Europa en septiembre de 2024
Alegerile din Moldova din 2024: O Bătălie pentru Democrație Împotriva Dezinformării
Northcrest Developments launches design competition to reimagine 2-km former airport Runway into a vibrant pedestrianized corridor, shaping a new era of placemaking on an international scale
The Road to Sustainable Electric Motors for EVs: IDTechEx Analyzes Key Factors
Infrared Technology Breakthroughs Paving the Way for a US$500 Million Market, Says IDTechEx Report
MegaFair Revolutionizes the iGaming Industry with Skill-Based Games
European Commission Evaluates Poland’s Media Adherence to the Right to be Forgotten
Global Race for Autonomous Trucks: Europe a Critical Region Transport Transformation
Digi Communications N.V. confirms the full redemption of €450,000,000 Senior Secured Notes
AT&T Obtiene Sentencia Contra Grupo Salinas Telecom, Propiedad de Ricardo Salinas, Sus Abogados se Retiran Mientras Él Mueve Activos Fuera de EE.UU. para Evitar Pagar la Sentencia
Global Outlook for the Challenging Autonomous Bus and Roboshuttle Markets
Evolving Brain-Computer Interface Market More Than Just Elon Musk’s Neuralink, Reports IDTechEx
Latin Trails Wraps Up a Successful 3rd Quarter with Prestigious LATA Sustainability Award and Expands Conservation Initiatives ↗️
Astor Asset Management 3 Ltd leitet Untersuchung für potenzielle Sammelklage gegen Ricardo Benjamín Salinas Pliego von Grupo ELEKTRA wegen Marktmanipulation und Wertpapierbetrug ein
Digi Communications N.V. announces that the Company’s Romanian subsidiary exercised its right to redeem the Senior Secured Notes due in 2025 in principal amount of €450,000,000
Astor Asset Management 3 Ltd Inicia Investigación de Demanda Colectiva Contra Ricardo Benjamín Salinas Pliego de Grupo ELEKTRA por Manipulación de Acciones y Fraude en Valores
Astor Asset Management 3 Ltd Initiating Class Action Lawsuit Inquiry Against Ricardo Benjamín Salinas Pliego of Grupo ELEKTRA for Stock Manipulation & Securities Fraud
Digi Communications N.V. announced that its Spanish subsidiary, Digi Spain Telecom S.L.U., has completed the first stage of selling a Fibre-to-the-Home (FTTH) network in 12 Spanish provinces
Natural Cotton Color lancia la collezione “Calunga” a Milano
Astor Asset Management 3 Ltd: Salinas Pliego Incumple Préstamo de $110 Millones USD y Viola Regulaciones Mexicanas
Astor Asset Management 3 Ltd: Salinas Pliego Verstößt gegen Darlehensvertrag über 110 Mio. USD und Mexikanische Wertpapiergesetze
ChargeEuropa zamyka rundę finansowania, której przewodził fundusz Shift4Good tym samym dokonując historycznej francuskiej inwestycji w polski sektor elektromobilności
Strengthening EU Protections: Robert Szustkowski calls for safeguarding EU citizens’ rights to dignity
Digi Communications NV announces the release of H1 2024 Financial Results
Digi Communications N.V. announces that conditional stock options were granted to a director of the Company’s Romanian Subsidiary
Digi Communications N.V. announces Investors Call for the presentation of the H1 2024 Financial Results
Digi Communications N.V. announces the conclusion of a share purchase agreement by its subsidiary in Portugal
Digi Communications N.V. Announces Rating Assigned by Fitch Ratings to Digi Communications N.V.
Digi Communications N.V. announces significant agreements concluded by the Company’s subsidiaries in Spain
SGW Global Appoints Telcomdis as the Official European Distributor for Motorola Nursery and Motorola Sound Products
Digi Communications N.V. announces the availability of the instruction regarding the payment of share dividend for the 2023 financial year
Digi Communications N.V. announces the exercise of conditional share options by the executive directors of the Company, for the year 2023, as approved by the Company’s Ordinary General Shareholders’ Meetings from 18th May 2021 and 28th December 2022
Digi Communications N.V. announces the granting of conditional stock options to Executive Directors of the Company based on the general shareholders’ meeting approval from 25 June 2024
Digi Communications N.V. announces the OGMS resolutions and the availability of the approved 2023 Annual Report
Czech Composer Tatiana Mikova Presents Her String Quartet ‘In Modo Lidico’ at Carnegie Hall
SWIFTT: A Copernicus-based forest management tool to map, mitigate, and prevent the main threats to EU forests
WickedBet Unveils Exciting Euro 2024 Promotion with Boosted Odds
Museum of Unrest: a new space for activism, art and design
Digi Communications N.V. announces the conclusion of a Senior Facility Agreement by companies within Digi Group
Digi Communications N.V. announces the agreements concluded by Digi Romania (formerly named RCS & RDS S.A.), the Romanian subsidiary of the Company
Green Light for Henri Hotel, Restaurants and Shops in the “Alter Fischereihafen” (Old Fishing Port) in Cuxhaven, opening Summer 2026
Digi Communications N.V. reports consolidated revenues and other income of EUR 447 million, adjusted EBITDA (excluding IFRS 16) of EUR 140 million for Q1 2024
Digi Communications announces the conclusion of Facilities Agreements by companies from Digi Group
Digi Communications N.V. Announces the convocation of the Company’s general shareholders meeting for 25 June 2024 for the approval of, among others, the 2023 Annual Report
Digi Communications NV announces Investors Call for the presentation of the Q1 2024 Financial Results
Digi Communications intends to propose to shareholders the distribution of dividends for the fiscal year 2023 at the upcoming General Meeting of Shareholders, which shall take place in June 2024
Digi Communications N.V. announces the availability of the Romanian version of the 2023 Annual Report
Digi Communications N.V. announces the availability of the 2023 Annual Report
International Airlines Group adopts Airline Economics by Skailark ↗️
BevZero Spain Enhances Sustainability Efforts with Installation of Solar Panels at Production Facility
Digi Communications N.V. announces share transaction made by an Executive Director of the Company with class B shares
BevZero South Africa Achieves FSSC 22000 Food Safety Certification
Digi Communications N.V.: Digi Spain Enters Agreement to Sell FTTH Network to International Investors for Up to EUR 750 Million
Patients as Partners® Europe Announces the Launch of 8th Annual Meeting with 2024 Keynotes and Topics
driveMybox continues its international expansion: Hungary as a new strategic location
Monesave introduces Socialised budgeting: Meet the app quietly revolutionising how users budget
Digi Communications NV announces the release of the 2023 Preliminary Financial Results
Digi Communications NV announces Investors Call for the presentation of the 2023 Preliminary Financial Results
Lensa, един от най-ценените търговци на оптика в Румъния, пристига в България. Първият шоурум е открит в София
Criando o futuro: desenvolvimento da AENO no mercado de consumo em Portugal
Digi Communications N.V. Announces the release of the Financial Calendar for 2024
Customer Data Platform Industry Attracts New Participants: CDP Institute Report
eCarsTrade annonce Dirk Van Roost au poste de Directeur Administratif et Financier: une décision stratégique pour la croissance à venir
BevZero Announces Strategic Partnership with TOMSA Desil to Distribute equipment for sustainability in the wine industry, as well as the development of Next-Gen Dealcoholization technology
Digi Communications N.V. announces share transaction made by a Non-Executive Director of the Company with class B shares
Digi Spain Telecom, the subsidiary of Digi Communications NV in Spain, has concluded a spectrum transfer agreement for the purchase of spectrum licenses
Эксперт по торговле акциями Сергей Левин запускает онлайн-мастер-класс по торговле сырьевыми товарами и хеджированию
Digi Communications N.V. announces the conclusion by Company’s Portuguese subsidiary of a framework agreement for spectrum usage rights
North Texas Couple Completes Dream Purchase of Ouray’s Iconic Beaumont Hotel
Предприниматель и филантроп Михаил Пелег подчеркнул важность саммита ООН по Целям устойчивого развития 2023 года в Нью-Йорке
Digi Communications NV announces the release of the Q3 2023 Financial Results
IQ Biozoom Innovates Non-Invasive Self-Testing, Empowering People to Self-Monitor with Laboratory Precision at Home
BevZero Introduces Energy Saving Tank Insulation System to Europe under name “BevClad”
Motorvision Group reduces localization costs using AI dubbing thanks to partnering with Dubformer
Digi Communications NV Announces Investors Call for the Q3 2023 Financial Results
Jifiti Granted Electronic Money Institution (EMI) License in Europe
Предприниматель Михаил Пелег выступил в защиту образования и грамотности на мероприятии ЮНЕСКО, посвящённом Международному дню грамотности
VRG Components Welcomes New Austrian Independent Agent
Digi Communications N.V. announces that Digi Spain Telecom S.L.U., its subsidiary in Spain, and abrdn plc have completed the first investment within the transaction having as subject matter the financing of the roll out of a Fibre-to-the-Home (“FTTH”) network in Andalusia, Spain
Продюсер Михаил Пелег, как сообщается, работает над новым сериалом с участием крупной голливудской актрисы
Double digit growth in global hospitality industry for Q4 2023
ITC Deploys Traffic Management Solution in Peachtree Corners, Launches into United States Market
Cyviz onthult nieuwe TEMPEST dynamische controlekamer in Benelux, Nederland
EU-Funded CommuniCity Launches its Second Open Call
Astrologia pode dar pistas sobre a separação de Sophie Turner e Joe Jonas
La astrología puede señalar las razones de la separación de Sophie Turner y Joe Jonas
Empowering Europe against infectious diseases: innovative framework to tackle climate-driven health risks
Montachem International Enters Compostable Materials Market with Seaweed Resins Company Loliware
Digi Communications N.V. announces that its Belgian affiliated companies are moving ahead with their operations
Digi Communications N.V. announces the exercise of conditional share options by an executive director of the Company, for the year 2022, as approved by the Company’s Ordinary General Shareholders’ Meeting from 18 May 2021
Digi Communications N.V. announces the availability of the instruction regarding the payment of share dividend for the 2022 financial year
Digi Communications N.V. announces the availability of the 2022 Annual Report
Digi Communications N.V. announces the general shareholders’ meeting resolutions from 18 August 2023 approving amongst others, the 2022 Annual Accounts
Русские эмигранты усиливают призывы «Я хочу, чтобы вы жили» через искусство
BevZero Introduces State-of-the-Art Mobile Flash Pasteurization Unit to Enhance Non-Alcoholic Beverage Stability at South Africa Facility
Russian Emigrés Amplify Pleas of “I Want You to Live” through Art
Digi Communications NV announces the release of H1 2023 Financial Results
Digi Communications NV Announces Investors Call for the H1 2023 Financial Results
Digi Communications N.V. announces the convocation of the Company’s general shareholders meeting for 18 August 2023 for the approval of, among others, the 2022 Annual Report
“Art Is Our Weapon”: Artists in Exile Deploy Their Talents in Support of Peace, Justice for Ukraine
Digi Communications N.V. announces the availability of the 2022 Annual Financial Report
“AmsEindShuttle” nuevo servicio de transporte que conecta el aeropuerto de Eindhoven y Ámsterdam
Un nuovo servizio navetta “AmsEindShuttle” collega l’aeroporto di Eindhoven ad Amsterdam
Digi Communications N.V. announces the conclusion of an amendment agreement to the Facility Agreement dated 26 July 2021, by the Company’s Spanish subsidiary
Digi Communications N.V. announces an amendment of the Company’s 2023 financial calendar
iGulu F1: Brewing Evolution Unleashed
Почему интерактивная «Карта мира» собрала ключевые антивоенные сообщества россиян по всему миру и становится для них важнейшим инструментом
Hajj Minister meets EU ambassadors to Saudi Arabia
Online Organizing Platform “Map of Peace” Emerges as Key Tool for Diaspora Activists
Digi Communications N.V. announces that conditional stock options were granted to executive directors of the Company based on the general shareholders’ meeting approval from 18 May 2021
Digi Communications N.V. announces the release of the Q1 2023 financial results
AMBROSIA – A MULTIPLEXED PLASMO-PHOTONIC BIOSENSING PLATFORM FOR RAPID AND INTELLIGENT SEPSIS DIAGNOSIS AT THE POINT-OF-CARE
Digi Communications NV announces Investors Call for the Q1 2023 Financial Results presentation
Digi Communications N.V. announces the amendment of the Company’s 2023 financial calendar
Digi Communications N.V. announces the conclusion of two Facilities Agreements by the Company’s Romanian subsidiary
Digi Communications N.V. announces the conclusion of a Senior Facility Agreement by the Company’s Romanian subsidiary
Patients as Partners Europe Returns to London and Announces Agenda Highlights
GRETE PROJECT RESULTS PRESENTED TO TEXTILE INDUSTRY STAKEHOLDERS AT INTERNATIONAL CELLULOSE FIBRES CONFERENCE
Digi Communications N.V. announces Digi Spain Telecom S.L.U., its subsidiary in Spain, entered into an investment agreement with abrdn to finance the roll out of a Fibre-to-the-Home (FTTH) network in Andalusia, Spain
XSpline SPA / University of Linz (Austria): the first patient has been enrolled in the international multicenter clinical study for the Cardiac Resynchronization Therapy DeliveRy guided by non-Invasive electrical and VEnous anatomy assessment (CRT-DRIVE)
Franklin Junction Expands Host Kitchen® Network To Europe with Digital Food Hall Pioneer Casper
Unihertz a dévoilé un nouveau smartphone distinctif, Luna, au MWC 2023 de Barcelone
Unihertz Brachte ein Neues, Markantes Smartphone, Luna, auf dem MWC 2023 in Barcelona
Editor’s pick archive….
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=674de80b722041cd8abda4f1d4f7740f&url=https%3A%2F%2Fnews.europawire.eu%2Feib-and-cez-partner-on-e400-million-loan-to-enhance-czech-energy-infrastructure-and-green-transition%2Feu-press-release%2F2024%2F12%2F02%2F15%2F41%2F38%2F145022%2F&c=11788813727422355819&mkt=de-de
Author :
Publish date : 2024-12-02 07:53:00
Copyright for syndicated content belongs to the linked Source.
