Romanian state-owned power grid operator Transelectrica and Turkish electricity transmission corporation TEIAS will jointly launch a €1.5 million ($2.1 million) feasibility study for the construction of a 400-kilovolt underwater cable, Transelectrica said on Wednesday.
"The underwater cable project is very important for the development of the regional electric energy market, Transelectrica said in a statement. Transelectrica and the Romanian nuclear power plant operator Nuclearelectrica will finance half of the cost of the feasibility study and the rest should come from an unnamed Swedish bank.
Turkish legislation bans wholly state-owned Teias from financing projects outside the country. The 400-kilovolt power transmission line worth an estimated €300 million ($359.4 million) will run under the Black Sea, bypassing the territory of Bulgaria wedged between Romania and Turkey. The line will link the Romanian seaport of Constanta and the Turkish location of Pasakoy, some 80 kilometers east of Istanbul.
The transmission line should be able to carry up to 600 MW of electricity in either direction, offering both countries an additional source to cover temporary power shortages. Transelectrica (www.transelectrica.ro) operates 77 power stations with a combined capacity of 35,506 megavolt-amperes and 8,950 kilometers of power lines. It employs more than 2,150. The state owns 76% of the company. (See News)