EIB and EBRD to support completion of TES-Thermal Power Plant Sostanj project
- Published on Friday, 08 March 2013 11:50
- Posted by Vicki Mitchem
The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) have moved ahead with their financial support for the construction of a state-of-the-art thermal power plant and associated infrastructure in the city of Sostanj in Slovenia.
Their disbursement of funds for the project follows a comprehensive assessment by the Banks of the fulfilment of the conditions for disbursement set under the relevant Finance Contract, including those relating to the Guarantee of the Republic of Slovenia ratified by the Slovenian Parliament on 21 December 2012 and which came into force on 30 December 2012.
The completion of the project will provide Slovenia with a state-of-the-art 600 MW steam turbine power plant with a much higher degree of efficiency than the existing 5 units which the new plant will replace. The new plant will generate up to 30 per cent more electricity with no additional C02 emissions.