Slovakia’s electricity distribution network is set for further upgrades after the European Investment Bank agreed a second €50 million loan to energy utility ZSE Group, bringing its total financing package to €400 million.
The latest funding follows a €350 million loan agreed six months ago, which the EIB described as its largest corporate loan in Slovakia, the bank informed in a release on Tuesday.
The EIB said the money will support ZSE Group’s programme to renovate and expand parts of the electricity distribution grid, including overhead power lines and underground cables.
It will also fund the rollout of “smart grid” technologies — digital systems that help monitor and manage electricity flows — as well as preparations for greater automation of the network.
“Slovakia will need stronger and smarter networks to meet rising electricity demand, connect more renewable energy and support decarbonisation,” EIB Vice-President Marek Mora stated.
ZSE Group is Slovakia’s largest electricity distribution system operator and provides distribution services to nearly 2 million customers through its subsidiaries Západoslovenská distribučná and Východoslovenská distribučná.
Smart meters and grid automation
The loan will support upgrades to high-, medium- and low-voltage lines and cables, as well as the modernisation of transformers and substations, ZSE Group CEO Markus Kaune said.
It will also back the rollout of smart meter technologies and grid automation, Kaune added.
The EIB noted its financing will cover works in western and eastern Slovakia, including areas classified by the EU as “cohesion regions”, a term used for less-developed parts of the bloc eligible for additional support.
Across Europe, the EIB Group provided €11.6 billion for electricity networks and storage in 2025, and €33 billion for energy security.
