European bank funds Slovenia’s 42.5-MW Blanca, 39.5-MW Krsko

The European Investment Bank (EIB) has approved a 74 million euro (US$116.8 million) loan for construction and operation of two run-of-river hydropower plants on the lower Sava River in Slovenia.

The funding, the third part of a three-part loan to Slovenia totaling 130 million euros (US$205.1 million), is to finance construction and operation of the 42.5-MW Blanca and 39.5-MW Krsko hydroelectric projects on the Sava.

Slovenia utility Holding Slovenske Elektrarne last year awarded an 18.9 million euro (US$25.4 million) contract to Nivo Gradnje in Ekologija d.d. of Slovenia for civil works construction of Blanca. (HNN 8/21/07)

The 74 million euro loan was signed by EIB July 10. The first tranche of the loan, of 43 million euros (US$67.8 million) was approved in February 2006, followed by a 13 million euro (US$20.5 million) tranche in September 2007. The loan is the first EIB financing in Slovenia’s energy sector.

The initial funding went to finance construction and operation of the 175-MW Avce pumped-storage project being built at Kanal, Slovenia. (HNN 2/28/06) That project, Slovenia’s first pumped-storage plant, is being developed on the Soca River by Slovenske Elektrarne and its subsidiary Soske Elektrarne Nova Gorica d.o.o.

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