Elektro Ljubljana secures funds for grid upgrades
The EIB will lend Elektro Ljubljana €50 million ($55.3 million) to expand and upgrade the distribution network in central and southeastern Slovenia.
Image for illustration purposes.
Slovenia, Ljubljana: The European Investment Bank (EIB) will lend the electricity company Elektro Ljubljana €50 million ($55.3 million) to expand and upgrade the distribution network in central and southeastern Slovenia. The company operates the largest distribution network in Slovenia, serving over 353000 people.
The financing is intended for works scheduled in 2024-2026 to make the infrastructure more reliable, efficient, and sustainable. The project includes upgrades such as refurbishing and constructing medium and low-voltage lines, underground cables, transformers, and substations. It will deploy smart meters and other advanced components to improve savings and pave the way for new EV charging stations, renewable energy generators, and heat pumps.
EIB vice-president Kyriacos Kakouris commented: “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. 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.”
The total cost is estimated at €164.2 million ($181.5 million). The loan offers favourable and flexible financing terms and allows the company to diversify its financing sources. It is complemented by €55.2 million ($61 million) in EU funding, while the remaining costs will be covered by the company.
Elektro Ljubljana’s president of the Management Board Urban Likoza said: “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. 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.”
Source: Smart Energy International
#distribution network#EIB#Elektro Ljubljana#European Investment Bank#grid upgrade#Slovenia