Haven Power

EIB backs UK networks investment

EIB backs UK networks investment


 

The European Investment Bank (EIB) has announced that it will provide £500mn investment to UK Power Networks to maintain and upgrade its electricity infrastructure in southern and eastern England. The loan will support UK Power Networks’ £1.2bn network investment in improving investment in critical energy infrastructure over the next seven years. Basil Scarsella, CEO of UK Power Networks, said: “Since […] 2010 we have reduced the frequency of power cuts by a quarter and cut average duration by half. We believe long-term investment is essential to build on these achievements and deliver sustainable improvements for customers.”

 

EIB