Spot the difference: Alstom in Indonesia and Slovenia
July 31, 2012
The company hired to build a new unit at the Sostanj lignite power plant is involved in strikingly similar corruption cases across continents.
State guarantee vote for TES 6 overshadowed by OLAF corruption investigation
July 20, 2012
A state guarantee law supporting the construction of a 600 MW lignite plant at Sostanj in Slovenia (TES 6) was passed this week despite allegations of corruption against the management of the company remaining unsettled. Even more, the European Anti-Fraud Office (OLAF) recently opened an official investigation into TES 6. (1)
OLAF decision to investigate corruption at TES 6
July 19, 2012
The European Anti-Fraud Office (OLAF) decided to start an official investigation into the case of the Sostanj lignite power plant in Slovenia due to serious concerns about corruption and conflicts of interests in the granting of the contract to the company Alstom. (Information on OLAF staff has been blackened on request by the Office.)
EBRD energy lending report: conflicting investments end up contradicting climate science
May 17, 2012
London – Almost half of the 6.7 billion euros lent by the European Bank for Reconstruction and Development (EBRD) between 2006-2011 goes to support for fossil fuels, according to a report issued today by CEE Bankwatch Network. Support for coal, oil and gas must be discontinued altogether, argues Bankwatch, if the bank’s commendable efforts on increasing financing for renewables and energy efficiency are to have a positive impact in the global fight against climate change.
Corruption cases put EBRD due diligence in the spotlight
May 14, 2012
In recent months bribery and money laundering allegations levelled at a former EBRD banker, as well as revelations that an EBRD staffer, now suspended, is one of the founders of the far-right, racist organisation the English Defence League have not made for great PR for the EBRD.
EIB urged to dump coal in energy policy review
May 14, 2012
The European Investment Bank has announced that it will commence a review of its energy policy – “Clean energy for Europe: A reinforced EIB contribution” – in the second half of 2012. Bankwatch welcomed the announcement as the current policy, adopted in June 2007, needs to be brought up to speed and aligned with the latest developments in EU energy and climate policies.
EBRD probes Slovenia plant contract with Alstom
May 9, 2012
LJUBLJANA/PARIS, April 20 (Reuters) – Slovenia has taken a step toward providing government loan guarantees that would enable completion of a controversial 1.3 billion euro ($1.7 billion) power plant upgrade awarded four years ago to French engineering company Alstom.
Alstom Bid Draws Scrutiny
May 9, 2012
Two of Europe’s largest development banks are probing allegations that Slovene officials helped French engineering giant Alstom SA scuttle a rival bid by Siemens AG involving work on a €700 million ($927.8 million) power plant in Slovenia.
Suspension or no suspension, the EBRD freezes disbursements for the Šoštanj lignite power plant
April 18, 2012
With the decision to freeze the disbursement of a loan for the Šoštanj lignite power plant in Slovenia, the European Bank for Reconstruction and Development seemingly reacts to the many controversial points Bankwatch and other organisations have raised about the project.
Slovenia: The EBRD freezes loan disbursements in Alstom’s coal project over corruption allegations. NGOs call on the EIB to follow suit
April 18, 2012
Paris, 18 April 2012 — The European Bank for Reconstruction and Development (EBRD) announced that it is freezing the disbursement of the promised EUR 100 million loan for the construction of a new lignite block at thermal power plant TES 6 in Šoštanj, Slovenia. The decision by the EBRD comes after a group of Slovenian and international NGOs approached the EBRD asking for the bank to halt the loan until corruption allegations are investigated.(1)
