Slovenia is advancing its energy strategy with a significant investment plan for the second unit of the NPP Krško, projected to cost between €15 billion and €22 billion. This initiative was detailed in Ljubljana during a press conference organized by Gen Energija, which oversees the country’s nuclear energy operations.
The financial analysis indicates that financing costs alone are estimated at €5 billion to €7 billion. The total investment encompasses construction and associated expenses, with the Slovenian government poised to fund the project independently, contingent on maintaining fiscal and macroeconomic stability throughout both the construction and operational phases.
A dedicated project company is proposed to manage permits, contracts, regulatory processes, and financial responsibilities, with recommendations for full state ownership. Nada Drobne Popović, CEO of Gen Energija, stated that the initial economic assumptions remain intact following financing reviews and technical feasibility studies. However, final investment figures will be confirmed post contractor selection.
The base construction costs are projected at approximately €9.6 billion for a 1,000 MW configuration and €15.4 billion for a 1,650 MW option. Current estimates suggest that the cost of electricity generation will range from €60 to €68 per megawatt-hour (MWh), with economic viability anticipated at market prices around €75/MWh.
Bruno Glaser, business director at Gen Energija, emphasized the preparatory measures yet to be undertaken, including a probabilistic seismic safety assessment and updates to the site safety report. Additionally, a cooling study and tender documentation are necessary within the national spatial planning framework. The Ministry of Natural Resources and Spatial Planning has recently initiated the state spatial plan procedure, marking a critical step in coordinating planning guidelines and facilitating public input.
Environment, Climate and Energy Minister Bojan Kumer highlighted that NPP Krško Unit 2 represents Slovenia’s largest infrastructure investment to date. A comprehensive environmental impact assessment is also planned to include cross-border evaluations.
A decision regarding the project’s progression is anticipated by the end of 2028. By this point, supplier selection, financial structuring, and national spatial plan approval must be finalized. Should timelines be adhered to, construction could commence in 2032, with completion expected by 2039 and network connection scheduled for 2040.
