The European Investment Bank (EIB) will lend another EUR 400 million to CEZ Group for upgrading and expanding the power distribution network throughout the Czech Republic in the years 2025 and 2026. The EIB loan will improve energy services and green energy supplies in the country. This is the second loan earmarked for this area in a short period – most recently, the EIB signed a loan agreement with CEZ Group for the same amount at the end of last November.
CEZ intends to refurbish electricity networks, install remotely controlled power supply systems, and build infrastructure capable of integrating new renewable energy sources, in particular solar and wind energy. They will build or upgrade hundreds of kilometres of overhead and underground power lines, renovate hundreds of transformers, and install hundreds of thousands of smart power meters. The power network will thereby be able to absorb up to 5.5 gigawatts of additional renewable sources.
An increase in the supply of power from renewable sources in the Czech Republic will enhance the country’s energy independence. The EIB loan is in line with the European Union’s REPowerEU initiative, aimed at reducing dependence on fossil fuels from Russia and accelerating the green transition.
CEZ’s works funded from the EIB loan are scheduled to be completed in 2026.
Previously, the EIB provided the CEZ Group with a loan of EUR 790 million that was signed in 2022.
EIB’s strategic goals support projects that contribute to measures concerning climate, energy efficiency, and economic and social cohesion.