EIB approves €50m loan for Slovenia’s power network

The European Investment Bank (EIB) approved a €50 million ($55.3 million) loan for Slovenian electricity company Elektro Ljubljana to upgrade and expand the power distribution network in central and southeastern parts of the country.

The agreement was signed in Ljubljana by EIB Vice President Kyriacos Kakouris and Elektro Ljubljana President Urban Likozar, with State Secretary Tina Seršen in attendance.

The €50 million EIB loan will fund infrastructure improvements from 2024 to 2026, including refurbishing medium- and low-voltage lines, underground cables, power transformers, and substations.

The project will also introduce smart meters, new electric-vehicle charging stations, renewable energy generators, and heat pumps.

The total project cost is €164.2 million, supported by €55.2 million in EU funding and the remainder from Elektro Ljubljana. This initiative aims to enhance Slovenia’s energy infrastructure, support the country’s 2050 climate targets, and align with the EU’s REPowerEU initiative.

‘’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.” said Elektro Ljubljana’s President, Likozar.