EIB agrees €100m loan with Finland's Elenia
The European Investment Bank has signed a €100 million loan with Elenia, a distribution system operator in Finland. The investments focus on improving security and quality of power supply by weather-proofing Elenia’s electricity distribution network.
The company’s long-term investment plan emphasises the importance of building underground electricity network and replacing old overhead lines that are at the end of their useful life to secure uninterrupted availability of electricity.
More than 50% of the network is now underground reducing outages and improving security of supply to our customers. To meet the targets of the Electricity Market Act Elenia aims to increase the underground cabling rate of the electricity distribution network to 75% by 2028.
