Wedoany.com Report-Dec.14, The European Investment Bank (EIB) has approved a €350 million loan to the Západoslovenská energetika (ZSE) Group to support a multi-year programme aimed at modernising electricity distribution networks across Slovakia, including the Bratislava region.

The EIB-ZSE partnership is expected to enhance the reliability and quality of electricity supply.

The financing will allow ZSE Group to upgrade high-, medium-, and low-voltage overhead lines and underground cables, renovate transformers and substations, introduce smart grid technologies, and increase automation. These improvements are designed to enhance the reliability and quality of power supply while supporting growing business and industrial activity in the country.

EIB vice-president responsible for Slovakia, Marek Mora, said: "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. 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. EIB is happy to have been able to offer ZSE Group the opportunity to diversify funding sources and finance high-priority investments on terms not generally available in the market."

A significant part of the loan will target development in western and eastern regions of Slovakia to promote balanced territorial progress.

The project contributes to the objectives of Slovakia's National Energy and Climate Plan and is in line with broader European energy and climate strategies, including the European Green Deal and the goal of climate neutrality.

The partnership is expected to enable greater integration of low-carbon electricity sources, support the expansion of electric mobility, and meet rising demand from households and companies.

ZSE Group CEO Markus Kaune stated: "The loan from the EIB is a major step forward in enabling the investments required to modernise 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. In the coming three years, we will be able to continue our high investment level, which has almost doubled since 2022. We are committed to building a smarter, more resilient and future-ready grid that meets the evolving needs of customers and the energy system, and especially the progressing electrification, eg in heating and transport."

The EIB continues to support the energy transition across Europe and remains on course to mobilise at least €1 trillion in climate and environmental investments by 2030. Between 2021 and 2024, it financed more than €560 billion in such projects, with green financing reaching nearly 60 % of its total activity in 2024.

In June 2025, the EIB also approved €1.6 billion for the Bay of Biscay electricity interconnection project between Spain and France to boost cross-border power exchange capacity.