The European Investment Bank (EIB) will provide a loan of $55 million for construction of a heat and power station in the Slovakian capital, Bratislava. The gas-fired power plant, with a generating capacity of 218 MWe, will replace obsolete oil-fired units at the same site.

The new plant will burn natural gas. The combined cycle station will provide 186 MW of heat to residents of Bratislava and industrial consumers in addition to its electrical output.

The loan for the project is for 15 years with a grace period of two years. EIB financing in Slovakia, which now totals $730 million, includes support for refurbishment of the Vojany coal-fired power station.