Slovenia Approves $541 Million Thermal Plant Guarantee: Delo

Slovenian lawmakers conditionally approved state guarantees of 440 million euros ($541 million) for the upgrade of thermal power plant Termoelektrarna Sostanj d.o.o., Delo newspaper reported, citing lawmakers in the capital Ljubljana.

The government also gave its backing to the 1.3 billion- euro project on condition the price doesn’t exceed the current estimate, Dejan Krusec, the junior minister at the Finance Ministry said, according to the Slovenian newspaper.

The project, in which France’s Alstom SA (ALO) is providing the equipment, is Slovenia’s biggest energy investment with loans provided by the European Investment Bank and the European Bank for Reconstruction and Development. The completion of the 600 megawatt coal-powered unit is seen in 2016.

To contact the reporter on this story: Boris Cerni in Ljubljana at bcerni@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.