The loan will be used for 23 transmission schemes operating at voltages of 110kV, 220kV and 400kV as well as for modernization 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 company CEPS is the project promoter and the final beneficiary of the EIB loan.
In addition to providing electricity transmission, controls power flows throughout the Czech Republic transmission system, CEPS cooperates with other transmission system operators across Europe and contributes to the development of the electricity market.
