Übersicht
The operation comprises a multi-year investment programme with the group of companies controlled by ZSE (the "ZSE") Group for the renovation, reinforcement and modernisation of the electricity distribution networks in both West and East part of Slovakia. The implementation of the programme will focus on refurbishing and building new high, medium and low voltage overhead lines and underground cables, transformers and substations (of up to 110kV), as well as on the deployment of smart meters and components for network automation fostering connection of renewable generation and e-mobility.
The aim is to support the upgrade, digitalisation and extension of the promoter's HV electricity distribution networks in both West and East part of Slovakia, over the period 2025-2026.
The project helps fill the growing investment gap in European electricity grid infrastructure. Investments are needed to support the European Energy Transition, as identified, among others, in the EU Clean Industrial Deal, the EU Affordable Energy Action Plan, and the EU Grid Action Plan.
The capital expenditures plan of the promoter includes investments in electricity distribution networks in the Western and Eastern regions of Slovakia. The project will contribute to maintaining or increasing security of supply and standards of service. It will facilitate the integration of low-carbon electricity generation, and it will accommodate growing electricity demand from heating and mobility as well as from new economic activities.
The project is expected to contribute to Bank's lending priority objectives on Climate Action and Environmental Sustainability and it aligns with the REPowerEU objectives. The financing of the project will contribute to the Bank's Energy Lending Policy themes on Securing the Enabling Infrastructure (energy networks).
The operation addresses several market failures, including increasing security of energy supply, and the integration of low-carbon generation, which reduces carbon emissions and air pollution, with positive climate and health externalities. The project is expected to deliver good economic and broader social benefits. The promoter is experienced in works of this nature and has a sound project management system in place.
This operation signals EIB's strong commitment in supporting energy grid investments in Slovakia and wider CEE region at a time when energy companies face significant funding needs. Longer tenor, flexible disbursement options and increased availability period all support the Promoter in achieving its strategic objectives.
Some schemes may fall under Annex II of the environmental impact assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU), which requires the competent national authority to determine the need for an EIA. The schemes are expected to have limited environmental impact. The environmental and social due diligence will follow the programme lending approach according to the EIB's procedures and standards. It will focus on the promoter's capacity to implement the programme in line with the EIB environmental and social standards and requirements. The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation
The promoter shall ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/23/EU / 2014/24/EU / 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required