The European Investment Bank (EIB) is lending Slovenian electricity company Elektro Ljubljana €50 million to expand and upgrade the power-distribution network in central and southeastern parts of the country. EIB Vice-President Kyriacos Kakouris and Elektro Ljubljana President of the Management Bo Contact online >>
The European Investment Bank (EIB) is lending Slovenian electricity company Elektro Ljubljana €50 million to expand and upgrade the power-distribution network in central and southeastern parts of the country. EIB Vice-President Kyriacos Kakouris and Elektro Ljubljana President of the Management Board Urban Likozar signed the credit agreement today in the Slovenian capital in the presence of State Secretary Tina Seršen of Slovenia''s Ministry of the Environment, Climate and Energy.
Elektro Ljubljana operates the largest energy distribution network in Slovenia, serving more than 353,000 people. The EIB loan is for works scheduled in 2024-2026 to make Slovenia''s electricity infrastructure more reliable, efficient and sustainable.
The project will include extensive upgrades such as refurbishing and constructing medium and low-voltage overhead lines, underground cables, power transformers and substations. It will also deploy smart meters and other advanced components to improve energy savings as well as pave the way for new electric-vehicle charging stations, renewable-energy generators and heat pumps.
"This partnership with Elektro Ljubljana not only underscores the EIB''s commitment to infrastructure development but also addresses a critical need in Slovenia''s energy sector," Kakouris said. "Expanding and ensuring the reliability of the distribution network is essential to supporting the nation''s electrification efforts, particularly in integrating renewable-energy sources, electric-vehicle charging stations and heat pumps."
By increasing the hosting capacity of renewables, the project will bolster the fight against climate change by Slovenia under its 2050 targets and by the EU under its REPowerEU initiative.The total cost of the project is projected to be €164.2 million. The EIB loan offers Elektro Ljubljana favourable and flexible financing terms and allows the company to diversify its financing sources. The credit is being complemented by €55.2 million in EU funding. The remaining costs will be covered by Elektro Ljubljana.
''''The massive electrification of transport, heating and renewable energy that we have seen in recent years has led to a huge increase in the financing needs for electricity distribution infrastructure,'''' said Elektro Ljubljana''s Likozar. ''''The agreement we have signed today with the EIB is an important step in financing the primary distribution infrastructure to achieve the green transition, meet the objectives of the 10-year network development plan and ensure sufficient capacity for the diversification of renewable energy sources. We are pleased that the EIB has also recognised the importance of investments in the distribution network, which is key to a reliable and efficient electricity supply in Slovenia.''''
"I welcome the signing of the contract between the EIB and Elektro Ljubljana, as it represents an important step towards the implementation of the planned investments in the distribution network", State Secretary Seršen said. "The distribution network is and will be the backbone of the green transition and a key factor in democratising energy self-sufficiency for the people. The Ministry, through the Recovery and Resilience Plan grants as well as through the adoption of relevant legislation, supports not only Elektro Ljubljana but also other electricity distribution companies in making the necessary investments."
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investment that contributes towards EU policy goals, including social and territorial cohesion, competitiveness, innovation, sustainable development and the just, swift transition to net zero. The EIB has committed more than €7.6 billion in total financing for projects in Slovenia since the start of its operations in the country.
Support for Elektro Ljubljana''s investment programme in its regional electricity distribution network over the period 2024-2026. This includes network reinforcements and refurbishments in high, medium and low voltage, targeting at maintaining the quality of supply, integration of renewable energy generation, catering for peak demand growth, as well as climate-proofing part of the network.
The EIB signed a EUR 31 million loan with Elektro Maribor, electricity distributor from Slovenia`s second largest city of Maribor; the loan will go towards maintenance or improvements in the reliability and in quality standards of electricity supply. The EIB loan supports Elektro Maribor`s EUR 81,2 million investment in reconstruction and development of its electricity distribution network in order to minimise power blackouts and blackout-related damage to property and environment.
The European Investment Bank (EIB) and the Bank of Slovenia today discussed the investment dynamics and impact of the climate transition on Slovenian enterprises at a conference at the Bank of Slovenia''s headquarters in Ljubljana.
The EIB Group investments in Slovenia in 2019 nearly tripled its investments in Slovenia, from last year figures, to reach some EUR 250 million in support of country`s economic and social growth, SMEs, job creation, energy security and energy efficiency and infrastructural development. With EUR 7bn invested in Slovenia since beginning of operations in the country, the EIB is today one of the biggest investors in Slovenia and a key source of affordable, long-term financing for Slovenian economy.
The European Investment Bank (EIB) is lending Elektro Ljubljana, a Slovenian electricity company, $55.26 million to expand and upgrade the power-distribution network in central and southeastern parts of the country.
EIB Vice-President Kyriacos Kakouris and Elektro Ljubljana President of the Management Board Urban Likozar signed the credit agreement in Ljubljana in the presence of State Secretary Tina Sersen of Slovenia’s Ministry of the Environment, Climate and Energy.
The EIB loan is for works scheduled in 2024-2026 to make Slovenia’s electricity infrastructure more reliable, efficient and sustainable.
The project will include refurbishing and constructing medium and low-voltage overhead lines, underground cables, power transformers and substations. It will also deploy smart meters and other advanced components to improve energy savings as well as pave the way for new electric-vehicle charging stations, renewable-energy generators and heat pumps.
The project will boost the fight against climate change by Slovenia under its 2050 targets and by the EU under its REPowerEU initiative through increased hosting capacity of renewables.
The total cost of the project is expected to be $181.47 million.
While the credit is being complemented by $61 million in EU funding, the remaining costs will be covered by Elektro Ljubljana.
(IN BRIEF) The European Investment Bank (EIB) has provided a €50 million loan to Slovenia''s largest energy distribution company, Elektro Ljubljana, to expand and upgrade the electricity grid in the central and southeastern regions of the country. The project, which includes significant infrastructure enhancements such as new power lines, transformers, and smart meters, is aimed at meeting growing energy demand, improving grid reliability, and supporting Slovenia’s goals for electrification and renewable energy integration. The initiative is part of a broader effort to achieve the country’s green transition and aligns with EU climate goals.
(PRESS RELEASE) LUXEMBOURG, 2-Sep-2024 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union, announces that it has granted a €50 million loan to Elektro Ljubljana, Slovenia''s largest energy distribution operator, to support the expansion and modernization of the country''s electricity grid. This significant investment targets the central and southeastern regions of Slovenia, aiming to meet rising domestic electricity demand while reducing energy losses and enhancing grid reliability.
The project, scheduled for completion between 2024 and 2026, will involve the refurbishment and construction of medium and low-voltage infrastructure, including overhead lines, underground cables, power transformers, and substations. Additionally, it will introduce smart meters and advanced components to optimize energy efficiency, laying the groundwork for future renewable energy integration, electric vehicle charging stations, and heat pumps.
EIB Vice-President Kyriacos Kakouris emphasized the importance of the project in supporting Slovenia''s electrification and renewable energy goals, aligning with the EU’s broader REPowerEU initiative. “This partnership not only underscores our commitment to infrastructure development but also addresses a critical need in Slovenia''s energy sector,” Kakouris stated.
Elektro Ljubljana''s President of the Management Board, Urban Likozar, highlighted the project’s role in ensuring sufficient capacity for the green transition and the diversification of renewable energy sources. The total cost of the project is estimated at €164.2 million, with the EIB loan offering favorable financing terms. An additional €55.2 million will be provided through EU funding, with the remaining costs covered by Elektro Ljubljana.
Slovenia''s State Secretary Tina Seršen praised the initiative, noting that the distribution network is key to the country''s green transition and energy self-sufficiency. “The Ministry, through grants and legislation, supports Elektro Ljubljana and other electricity distribution companies in making the necessary investments,” she added.
About Ljubljana grid stabilization
As the photovoltaic (PV) industry continues to evolve, advancements in Ljubljana grid stabilization have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Ljubljana grid stabilization for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Ljubljana grid stabilization featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
