The European Investment Bank (EIB) and ZSE Group have agreed a €350 million loan to support a multi-year programme to modernise Slovakia’s electricity distribution networks, including the Bratislava region, the partners said on Thursday.
The funding will cover upgrades to overhead lines, underground cables, transformers, substations, as well as the deployment of smart technologies and grid automation.
“This is the largest corporate loan we have signed in the country to date, further strengthening our decades-long role as a reliable partner for Slovak businesses,” EIB Vice-President Marek Mora said. “Modernisation of Slovakia’s distribution networks will strengthen the foundations of the Slovak economy, making it more resilient to modern challenges including meeting the projected increase in electrification. This will also create sound foundations for long-term, sustainable and green growth, faster job creation and an energy-independent future for Slovakia.”
Markus Kaune, chief executive at ZSE Group, said the funding represents “a major step forward in enabling the investments required to modernize and expand our electricity distribution network. We are proud to welcome the EIB as a strong strategic partner supporting our ambition to accelerate Slovakia’s energy transition.”
The partners noted that a significant portion of the investments will take place in Slovakia’s cohesion regions to promote social and territorial development. The programme is also expected to enhance supply reliability, facilitate integration of low-carbon energy generation and e-mobility, and increase resilience to extreme weather.
