The European Bank for Reconstruction and Development (EBRD) said that it has provided a revolving loan in the amount of 25 million euros to Slovenian state-owned electricity transmission system operator ELES.
The statement from the bank said that the funds will support ELES’ working capital needs after a period of high electricity prices in Europe resulting from Russian invasion of Ukraine. Part of the facility will be used to purchase electricity on the spot market and to cover other general corporate expenses. Part will facilitate ELES’s continued investment in the electricity grid to ensure adequate voltage conditions throughout the Slovenian energy system, in line with European Network of Transmission System Operators (ENTSO-E) criteria.
ELES is responsible for the development and operation of Slovenia’s electricity network. It operates 2,900 kilometers of high-voltage transmission lines. Slovenia’s electricity network is interconnected with the networks of neighboring Croatia, Italy and Austria.
The company’s nine-year network development plan envisages the construction of new interconnections, transmission lines and substations, as well as new smart-grid components for the integration of renewable sources, including modern battery storage.
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Tags: EBRD, electricity, electricity transmission, ELES, Other