EIB Funds Slovenia’s Power Grid Upgrade with €50 Million Loan
Slovenia's largest electricity provider, Elektro Ljubljana, has secured a €50 million loan from the European Investment Bank (EIB) to enhance and modernize the country's power distribution network. The project focuses on improving the infrastructure in Slovenia's central and southeastern regions over the 2024-2026 period.
The agreement was signed on September 2, 2024, by EIB Vice-President Kyriacos Kakouris and Elektro Ljubljana CEO Urban Likozar. The total project cost is expected to reach €164.2 million, with additional financing provided by €55.2 million from the European Union, while the remaining funds will come from Elektro Ljubljana.
The project aims to upgrade medium and low-voltage overhead lines, underground cables, power transformers, and substations, as well as deploy smart meters. These improvements are designed to enhance the reliability and efficiency of Slovenia's power grid, and support future energy demands such as electric vehicle charging stations, renewable energy generators, and heat pumps.
This investment is crucial for achieving Slovenia's 2050 climate targets and supporting the EU's REPowerEU initiative, which focuses on increasing the integration of renewable energy into the grid.
Elektro Ljubljana serves over 353,000 customers, making it a vital player in the country's energy sector.
Source: seenews.com
