Sadales Tikls plans to invest EUR 1.11 billion in assets of distribution system in ten years

RIGA - From 2023 to 2033, joint-stock electricity distribution company Sadales Tikls is planning to invest EUR 1.11 billion, or EUR 111 million annually, in assets of the distribution system, according to the company's electricity distribution system development plan for 2023-2033 that the company has submitted to the Public Utilities Commission.

The plan says that, in order to ensure reconstruction and modernization of the distribution system assets and use of innovative technical solutions, over the next ten years Sadales Tikls plans to make investments in renewal of network assets, smart network development, real estate reconstruction and modernization of equipment.

65 percent of the total investments, or an average of EUR 73 million per year, will be invested in reconstruction and renovation of the power network.

The second largest amount of investments, EUR 24 million per year on the average, will go into new connections to the power network, while other capital investments will stand at EUR 14 million annually.