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Ljubljana – The company Elektro Ljubljana and the European Investment Bank (EIB) have signed a loan agreement worth 50 million euros, which Slovenia’s largest electricity distributor will use for network modernization and reinforcement. As emphasized by Elektro Ljubljana’s CEO Urban Likozar, these investments are crucial for reliable supply.
In recent times, according to Likozar, the need for financing investments in the distribution network has significantly increased. “Electrification is taking place at practically all levels, and renewable production sources are being connected. We can say that the distribution network is a key player in a fair green transition,” he said at the signing of the agreement in Ljubljana.
EIB Vice President Kiriacos Kakuris meanwhile stated that the expansion of the distribution network and ensuring its reliability are essential for supporting the country’s electrification efforts, especially in integrating renewable energy sources, electric vehicle charging stations, and heat pumps.
The project, co-financed with an EIB loan, will include extensive upgrades such as the renovation and construction of medium- and low-voltage overhead lines, underground cables, power transformers, and transformer stations. The project will also introduce smart meters and other advanced components to increase energy savings and begin deploying new charging stations for electric vehicles.
The total value of the project is estimated at 164.2 million euros. The EIB loan complements 55.2 million euros of EU funds, with the remaining costs to be covered by Elektro Ljubljana. (September 2)