The European Investment Bank (EIB) has been approached to fund the modernisation of district heating systems in the western part of the Czech Republic over the next four years.
The four sponsors of the development are seeking €75m ($93.87m) of the €154m total cost, the EIB said.
The Luxembourg-based EU bank said the modernisation programme would include: “Continuous network expansion related to the connection of new residential, commercial or industrial customers; technology upgrades to improve security of supply and network quality (e.g. installation of back-up facilities), improving efficiency and generating savings in operation and maintenance, and replacement/renovation of the pipelines as and when required in order to upgrade the system to the latest technical standards.”
The EIB supplied €749m in loans to Czech projects in 2013, with local operator CEZ signing a €200m loan in the summer to fund development of the distribution grid in the Czech Republic.