European bank funds Slovenia’s 175-MW Avce

The European Investment Bank (EIB) has approved a 43 million euro (US$51 million) loan for construction and operation of the 175-MW Avce pumped-storage project being built at Kanal, Slovenia.

The project is being developed on the Soca River by Slovenian utility Slovenske Elektrarne and its subsidiary Soske Elektrarne Nova Gorica d.o.o.

The loan is the first EIB financing in Slovenia’s energy sector. It is part of a 130 million euro (US$154.5 million) power plant investment loan that also will finance construction and operation of the 42.5-MW Blanca and 39.5-MW Krsko hydroelectric projects on Slovenia’s Sava River.

Soske Elektrarne previously named the Slovenia consortium of Primorje d.d Ajdovscina and SCT Ljubljana to perform civil construction of Avce and a consortium of Melco, Rudis, and Sumitomo to supply pump-turbine and motor-generator equipment. Slovenske Elektrarne is taking bids until March 6 for power plant construction and until March 8 for hydro-mechanical equipment for Blanca and Krsko.

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