The nine regions covered by the project are Plzen, Karlovy Vary, Usti nad Labem, Central Bohemia, Liberec, Hradec Kralove, Pardubice, Olomouc and Moravia-Silesia.
The funds will be used to install 4,160 km (2,585 miles) of new overhead and underground lines, to refurbish 2,475 km of lines and to add 861 MVA of transformer capacity on the power network.
“The project will boost the network’s capacity and will make it fit to integrate more electricity from renewable sources, thereby fostering the move from centralised to de-centralised electricity generation,” EIB vice-president Lilyana Pavlova said.
