The bank’s loan will support 23 transmission schemes operating at voltages of 110 kV, 220 kV and 400 kV.
Plans also include the modernisation of control and protection systems in substations across the country.
EIB vice-president, who is responsible for lending in the Czech Republic, Wilhelm Molterer said: "The upgraded electricity transmission network will increase the reliability and quality of electricity supply to meet the growing electricity demand in the Czech Republic and to reduce congestions in the Central and Eastern Europe region.
"This will have positive implications for integration of the electricity market and renewable energy sources."
Czech Republic’s energy transmission network firm CEPS is the promoter of the project and the final beneficiary of the EIB loan.
The EIB provided a €45m loan to CEPS in 2010 to finance the company’s electricity grid project.
CEPS provides electricity transmission, controls power flows throughout the Czech Republic transmission system.
It cooperates with other transmission system operators across Europe and contributes to the development of the electricity market.
CEPS, which is a member of relevant European international organizations, is responsible for the maintenance and upgrading of 41 substations which feature 71 transformers.
Image: The EIB’s loan will support 23 transmission schemes in Czech Republic. Photo: Courtesy of a454/FreeDigitalPhotos.net.
