Waste

EIB approves loan for CHP plant in Sofia

Photo: EIB

Published

October 25, 2017

Country

Comments

0

Share

Published:

October 25, 2017

Country:

Comments:

0

Share

The board of the European Investment Bank (EIB) has approved a EUR 45 million (USD 53 million) loan to the municipality of Sofia for the construction of a combined heat and electric power (CHP) plant. Once built, the plant will operate as part of the Bulgarian capital’s central heating network, local media reported, quoting an EIB statement.

The plant will use processed waste from a waste management facility in Sofia for fuel and will be provide electricity for the national power grid and heat energy for the city’s Toplofikacia, the EIB said.

The project description said that the new CHP plant will partly replace heat generation from existing natural gas powered facilities. The construction of the new power plant is part of the final stage of construction of the integrated Sofia Municipal Waste project.

The European Investment Bank said that the estimated total investment in the CHP plant will stand at EUR 135 million. The bank said the project will be co-financed under the Operational Program Environment 2014-2020.

The project to build the CHP plant in Sofia is the latest in a series of funding drives by the Bank in decentralized energy initiatives. The EIB board also lent its support to financing proposals for projects aimed at upgrading and reducing energy use in district heating in Krakow, a 400kV electricity inter-connector between Romania and the Moldovan capital Chisinau and a new scheme to support energy and water efficiency investment by private householders in Portugal.

The European Investment Bank opened its new Group Office for Bulgaria late in October in line with its police to open offices in all European Union member states. The new EIB Group Office, headed by Andreas Beikos, will strengthen and increase EIB Group activities in Bulgaria. The first thing the new office did was to sign a loan agreement with Bulgaria’s leading sunflower oil and grain trading firm Oliva AD.

 

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Solar power generation to increase ten times in Montenegro energy balance

Solar power generation to increase tenfold in Montenegro next year

25 November 2022 - According to the estimate in the Energy Balance of Montenegro for 2023, electricity production will drop 12.63% this year

Austria can reach 1,2 GW with additional solar in 2022

Austria set to add over 1 GW in solar power in 2022

25 November 2022 - Austria is on track to install more than 1 GW in photovoltaics this year and as much as 1.5 GW every year

Albania applications solar power 151 MW

Albania receives applications for solar power projects of 151 MW in total

25 November 2022 - Applications for solar power projects sent to the Ministry of Infrastructure and Energy of Albania include one of the largest ones so far, for 93 MW

coal phaseout see region iea

Coal phaseout in SEE: countries have made pledges, but some are still silent

24 November 2022 - The list of 40 countries with the largest shares of coal-fired power plants in electricity production includes eight in this region