Small investments reap big sustainable returns in Slovenia
When we think of renewable energy and energy efficiency, large-scale projects often come to mind. This was not the case for the Slovene Export and Development Bank (SID banka). The financial innovator projected the potential of small companies to energise sustainable development and help deliver economic and environmental benefits to the country.
An EIB loan to SID banka is helping to unlock much-needed funding for energy efficiency and small-scale renewable energy. Up to 8 500 buildings are expected to be refurbished to improve their energy efficiency, leading to an estimated 70 000 MWh reduction in energy consumption. The investments will have a positive impact on the environment since the relative efficiencies will lead to CO2 emissions savings. Moreover, the projects are designed to increase Slovenia’s energy security by reducing dependence on energy imports.
Previous cooperation with SID banka resulted in the development of one of Slovenia’s pioneers in the field of renewable energies.
Thanks to a long-term loan, Sonel Ltd was able to build a new solar power plant in Odranci, which today caters for the electricity needs of around 13 households on a year-round basis and generates around 36 tonnes of CO2 savings.
SID banka has also received technical assistance from the EIB to build the financial institution’s capacity to fund individual households or housing associations involved in renewable energy and energy efficiency schemes. These investments will support Slovenia’s National Energy Efficiency Action Plan and EU-wide objectives of cutting energy consumption by one fifth by 2020.
