SLOVENSKE ELEKTRARNE - SECTOR RESTRUCTURING LOAN

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 14644

Status Complete

Location

Slovak Republic

Business Sector

Energy

Notice Type

State

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 14644

Status Complete

Location

Slovak Republic

Business Sector

Energy

Notice Type

State

Environmental Category

Approval Date

06 Nov 2001

Disclosure date

02 Aug 2001

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

A guarantee from the EBRD to support the restructuring of Slovenské Elektrárne, a.s., the state-owned power generation and transmission company in the Slovak Republic.

The loan would consolidate the financial position of SE further to the restructuring of the national power utility into generation and transmission companies and would support sector financing without sovereign guarantees.

Transition Impact

To support (i) SE further to the restructuring of the national power utility into transmission and generation companies; (ii) compliance with the EU Directive on electricity; (iii) development of commercial operations in the sector; and (iv) privatisation of selected generation companies.

The Client

Slovenské Elektrárne, a.s. (SE) is the national power generation utility in Slovakia, established further to the restructuring of the national power utility into Transmission and Generation Companies. SE accounts for over 80 per cent of power generation in the country. The Government of Slovakia continues consolidating SE's financial position, following the national power utilities' functional restructuring in 2001 as part of the strategy of the government to establish a competitive electricity market along the lines of the EU Directive and preparation of the generation company to partial privatisation.

EBRD Finance

A seven year guarantee of up to US$ 75 million (€83.6 million) and in parallel with a five year commercial bank loan of US$ 90 million (€104 million) to SE, secured by receivables of one of SE's customers. The EBRD will provide a guarantee to a Slovak commercial bank which will on-lend in local currency to SE.

Project Cost

US$165 million (€190 million)

Environmental Impact

The project was screened C/1, requiring a corporate environmental audit to be carried out by the Bank.

Technical Cooperation

None.

Transition impact

ETI Score:75

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

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Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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