Elektro Ljubljana banks EUR-50m EIB loan for grid expansion, upgrade

The European Investment Bank (EIB) has agreed to provide EUR 50 million (USD 55.4m) to Elektro Ljubljana for a grid expansion and upgrade in central and southeastern Slovenia that will support the country’s electrification efforts, particularly when it comes to renewables adoption, electric vehicle (EV) charging and heat pumps.

The credit agreement was signed today in the Slovenian capital in the presence of officials from both parties.

The Slovenian power distributor will use the funds for initiatives scheduled for 2024-2026. The overall project is estimated at EUR 164.2 million. The EIB credit is being complemented by EUR 55.2 million in EU funding, while the remainder will be provided by Elektro Ljubljana.

The planned initiatives include refurbishing and constructing medium and low-voltage overhead lines, underground cables, power transformers and substations. The project also envisages the deployment of smart meters and other advanced components to improve energy savings as well as pave the way for EV charging stations, renewable-energy generators 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 EIB noted in the Monday statement.

(EUR 1 = USD 1.109)

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