The European Commission (EC) has committed €3.26 billion funding for Slovenia under its Cohesion Policy, to support its sustainable development initiatives, out of which the country will invest €806 million for low-carbon transition towards a net zero carbon and resilient economy.
The €806 million funding will contribute to Slovenia's decarbonization efforts and development of renewable energies, especially for solar and wind energy capacities and improve energy efficiency of buildings, stated the EC.
An amount of €249 million from the Just Transition Fund (JTF) will be used to shift the Savinjsko-Šaleška region away from coal by 2033 and restructuring of the Zasavje region.
EU funds will also help Slovenia mitigate climate change risks, promote circular economy in businesses while also supporting social inclusion, employment, education and training.
"This Partnership Agreement will help Slovenia further build low-carbon, resilient, sustainable, and innovative fisheries and aquaculture sectors, and support the green and digital transition of the blue economy in Slovenia," according to the Commissioner for Environment, Oceans and Fisheries, Virginijus Sinkevičius.
EC's Cohesion Policy aims to strengthen the economic, social and territorial cohesion in the European Union (EU) to 'correct imbalances' between nations and regions with a focus on green and digital transition. Slovenia will be able to avail these funds between 2021 and 2027 as the 20th country to be supported by the commission under the policy.
In July 2022, Slovenian government instructed the Ministry of Infrastructure to draw up a plan for 1 GW solar power capacity to be realized within next 3 years, to enable the country become energy independent (see Slovenia To Add 1 GW Utility-Scale Solar PV By 2025).
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