Slovakia receives US$100 million for sustainable energy

The government of Slovakia is to receive a total of 75 million euros (US$100 million) to increase energy efficiency, cut consumption, and generate power from renewable sources such as hydropower.

The European Bank for Reconstruction and Development (EBRD) approved a credit line of 60 million euros (US$80 million) to Slovakia under its Sustainable Energy Financing Facilities (SEFF) program. (HNN 4/19/07)

The SEFF program promotes energy efficiency and renewable energy including run-of-river hydropower. It provides technical assistance for market demand studies, credit lines to participating banks for lending, technical assistance for implementation, and performance fees.

Loans will be provided to private Slovak banks for on-lending to private companies, housing organizations, and individual borrowers for relevant projects.

The EBRD financing is being complemented by a 15 million euro (US$20 million) grant from the Bohunice International Decommissioning Support Fund. That fund was established in 2001 to assist with decommissioning the Bohunice nuclear power plant. Contributors include the European Community, Austria, Denmark, France, Ireland, the Netherlands, Spain, Switzerland, and the United Kingdom.

Loans to Slovak private companies will be used for energy efficiency measures, such as upgrading and modernization of production facilities, and small-scale generation of electricity and heat from renewable sources.

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