Bankwatch Mail 48
Publisher: CEE Bankwatch Network
Volume: 9 pages, pdf
Description:
A stunning intervention by the Slovenian government has undermined the development of the controversial Sostanj 6 coal-fired power plant project, and also cast doubt on the scrutiny of the project's backers, including the European Bank for Reconstruction and Development and the European Investment Bank. Last month the Slovene Minister of Economy, Darja Radić, presented the Slovene government with a critical report into the management of the EUR 1.2 billion, 600 MW Sostanj 6 project, for which last year the EIB agreed a EUR 550 million loan and the EBRD also approved a loan of EUR 100, with a further EUR 100 syndicated to commercial banks. The report – unfortunately not publicly available, though details of the minister's presentation to government have emerged – outlines a number of serious shortcomings in the project.