Dutch network firm Alliander has signed a €300 million loan agreement with the European Investment Bank (EIB) to help finance the renewal and expansion of the distribution network.
The investment will help to make the network, which is used by Alliander subsidiary Liander, “future-proof”, EIB said. The investment programme is expected to be completed in late 2018.
Mark van Lieshout, Alliander's CFO said: “With this loan the EIB contributes to the diversification of our funding sources, and will be financing part of our investments over the coming years. These investments are necessary to enable the transition to a sustainable energy supply and ensure that the energy supply in the future will remain affordable, reliable and accessible.”
“Network operators play an important role in the transition to a sustainable energy supply in the future, this will require substantial investments,” said EIB Vice-President Pim van Ballekom.