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.
