BUSINESS IN SHORT

Cabinet OKs Energy Security Strategy

THE SLOVAK government adopted the final version of the Energy Security Strategy of the Slovak Republic to 2030 at its session on October 15. The approval arrived one year after the document was presented by the Economy Ministry, the SITA newswire wrote.

THE SLOVAK government adopted the final version of the Energy Security Strategy of the Slovak Republic to 2030 at its session on October 15. The approval arrived one year after the document was presented by the Economy Ministry, the SITA newswire wrote.

Economy Minister Ľubomír Jahnátek pointed out that the strategy features a balance between Slovakia’s needs and potential in the energy field. The document lists specified individual types of energy, and outlines opportunities for providing enough high quality energy at reasonable prices.

Slovakia will have to invest €20 billion into the electrical energy sector in an effort to safeguard Slovakia's energy self-sufficiency. Of this, nearly €9 billion will be allocated for renewable energy resources, more than €7 billion will be earmarked for investment projects in nuclear energy, €3 billion will likely be focused on thermal sources and approximately €1 billion will be used to construct a pumped-storage hydroelectric plant on the Ipeľ River.

These investments will generate a total of 6,600 megawatts (MW) of new production capacity by 2030, and an annual total of around 29 terawatt hours of electricity.


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