EIB Lends €400 Million to ČEZ for Czech Energy Network Upgrade

The European Investment Bank (EIB) has approved a €400 million loan to Czech energy supplier ČEZ to enhance and expand the country’s electricity distribution infrastructure. This loan will modernize energy services, increase green power supply, and support the Czech Republic’s transition to a sustainable energy system.

ČEZ will utilize the EIB funding to modernize its electricity networks, implement remote-controlled systems, and develop infrastructure to integrate renewable energy sources. This enhanced grid will allow the Czech Republic to accommodate an extra 5.5 gigawatts (GW) of renewable energy, helping the country boost energy independence and decrease its dependence on fossil fuels.