The European Union approved funding for AS Tallinna Sadam (hereinafter: Tallinna Sadam) project PoTOPS (Port of Tallinn Onshore Power Supply), which aims to create onshore power supply for cruise ships at two quays in the Old City Port by 2030. The project, which will last more than three years, will include the construction of a power grid connection to the Elering main grid, a 110/10kV substation and onshore power supply infrastructure with connection equipment for cruise ships. The capacity of the substa ...

Core Insights - The European Investment Bank (EIB) has approved a €350 million ($408.08 million) loan to Západoslovenská energetika (ZSE) Group for modernizing Slovakia's electricity distribution networks [1][2] - This loan represents the largest corporate loan signed by EIB in Slovakia, aimed at enhancing the reliability and quality of electricity supply [2] - The modernization efforts will support Slovakia's National Energy and Climate Plan and align with EU energy and climate goals, including the European Green Deal [5] Investment Details - The loan will fund upgrades to high-, medium-, and low-voltage overhead lines and underground cables, modernize transformers and substations, and deploy smart technologies [1][4] - A significant portion of the loan will be allocated to specific regions in Slovakia to promote balanced social and territorial development [4][5] - The investment is expected to facilitate the integration of low-carbon generation and e-mobility, addressing rising electricity demand [6] Economic Impact - The modernization of distribution networks is anticipated to strengthen the Slovak economy and enhance its resilience to modern challenges, including increased electrification [3][6] - The project aims to create foundations for sustainable growth, job creation, and energy independence in Slovakia [4][5] - ZSE Group's CEO highlighted that the loan will enable continued high investment levels, which have nearly doubled since 2022, to build a smarter and more resilient grid [6][7]

Climate Policy - The EU will propose legislation to reduce emissions by 90% by 2040 [1] Environmental Goals - The 90% emissions reduction target is a step towards achieving climate neutrality [1]