Termoelektrarna Sostanj recently received their very first tranche of 550 million-euro or $750 million loan coming from the European Investment Bank. The purpose of the loan is to enhance the thermal power plant owned by Slovenia. This power plant is located in Sostanj, northern part of Slovenia. The 110 million-euro tranche was given after the power plant was able to get an environmental permit which was the agreement of the government and the bank. The upgrade cost for the Sostanj plant is approximately 1.2 billion euros and is considered the largest energy investment of Slovenia since they got their independence 20 years ago. For the equipment, Alstom SA of France will be the ones to provide.

Termoelektrarna Sostanj that operates the biggest thermal power plant in Slovenia recently arranged a credit guarantee facility for 110 million euros or $143 million. The said facility which will have its first maturity of five years will be utilized to back a loan from the European Investment Bank intended to develop a new 600 megawatt unit. The coordinator as well as the arranger of the deal is the Intesa Sanpaolo SpA. Other arrangers of the transaction are the Bank of Tokyo-Mitsubishi UFJ Ltd., Caja de Ahorros y Monte de Piedad de Madrid, Zweigniederlassung Wien, Societe Generale SA and UniCredit SpA.

Termoelektrarna Sostanj which is owned by Slovenia’s biggest power producer plus wholesale retailer Holding Slovenske Elektrarne produces approximately one third of the country’s energy.

Šoštanj power plant continues to be a controversial issue up to present. The government claims that the plant is necessary to the country, while a lot of environmental groups state that it’s disastrous, and the public is divided with their opinion. The plant has been considered a project filled with corruption especially with building their sixth generator.

The Šoštanj thermal power plant or TES is considered as Slovenia’s literal powerhouse. This facility is situated in the Northeast part of Slovenia which supplies almost one third of the country’s electricity. The company claims that five of the generators within the facility are obsolete at present which makes them unreliable as well as inefficient.

The solution to such problem is a 1.1 billion Euro project intended to construct the sixth coal powered generator. This solution will not only bring much cheaper as well as efficient electric supply but will also give a lot of environmental benefits. The company as well believes that the new generator will produce the same amount of electricity as the existing and old five generators will. Plus, it will reduce carbon dioxide emission by almost 1.5 million tons. The primary intention at present will be for TEŠ6 to replace all the other five existing generators.