News
20 December 2019
EIB agrees €175m loan to boost Eesti Energia's distribution network
In:
Manufacturing, Traditional energy
Region:
Europe
Eesti Energia - an Estonian state-owned energy company - has signed a €175 million loan agreement with European Investment Bank to finance investments into its distribution network. The maximum tenor of the debt facility is 20 years.
The funds will be used to extend and refurbish the electricity distribution networks in Estonia during the period 2019-2023 and includes investments in public lighting and charging stations for electric vehicles to take place in the same period.
Upon completion, some 4,100km of the distribution network will be refurbished, with another 1,100km newly constructed.
