North East Slovenian electricity grid bolstered by EIB funding
Elektro Maribor, the distribution company in the 2nd largest Slovenian city, will be using the funding to upgrade and renovate its infrastructure
- June 04, 2020 19:30
- Anton Stoyanov
Elektro Maribor, the main distribution company of Slovenia’s 2nd largest city and one of the country’s five main electricity distributors will be responsible for bolstering the capacity of the North-eastern segments of its power grid.
The task will be accomplished thanks to some 31 million euros that were granted by the European Investment Bank (EIB) to the company in the form of a loan that will be used for improving the already existing power supply chain and maintaining its capacity.
Providing essential support to local efforts
The loan provided by the EIB comes on top of Elektro Maribor’s own funding amounting to a total of 81.2 million euros. Combining their capabilities, the company will be much more up to the task and will be able to ensure that Slovenia’s north-eastern power grid will prove more resilient to blackouts and will be able to mitigate the costs of blackout-related damages and emergencies.
In terms of specifics, the funding will be used by Elektro Maribor not only for upgrades and maintenance to high, medium and low voltage networks but also for the expansion of the power grid itself, allowing it to reach more people in the less-frequented and remote parts of the country. The investment also comes with excellent timing, as Slovenia is on the lookout for large infrastructure projects that will allow its economy to quickly bounce back following the coronavirus pandemic.
Liliana Pavlova, Vice President of the EIB, stated that “This EIB investment delivers a more reliable electric distribution network in Slovenia and therefore improves the quality of life for thousands of Slovenians as well as conditions for doing business in the country. Reliable power supply is also crucial for the country`s resilience in major crisis such as the COVID-19 pandemic. The European Investment Bank is happy to support this investment by Elektro Maribor and continue with supporting Slovenia develop further”.
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