Mit - Index

Mit - SINFO March 2008 No.6 - Index

BUSInESSBUsinessBUSInESSBUsinessBUSInESSBUsinessBUSInESS
the vrhovo hydro power plant.
SOLAR AND MINI HYDRO PLANTS
LAUNCHED IN RADEËE
Photo: STA
Economy Minister Andrej Vizjak and Drago Polak, CEO of power
producer Savske Elektrarne, on 19 March symbolically launched
the Vrhovo solar power plant along with a mini hydro plant near
RadeËe in central Slovenia. Vizjak said that the Slovenian energy
sector was capable of being among the pioneers in renewables,
which have recently become not only environmentally but also
commercially interesting. But investing only in renewable sources
of energy is not enough. ≈A lot of work in efficient energy
use is ahead of us, and I believe this is more important than
investment in new production sources,« the minister said. Polak
meanwhile expressed the wish that the adopted energy policy
would also reflect on the promotion, support and purchase price
of electricity, and at the same time promote innovation and
production of the necessary equipment in Slovenia, which will
make renewable sources more competitive. The solar plant has
produced 11,300 kWh of electricity in the test phase since January,
while the planned annual production is 74,600 kWh, enough for
22 households. The mini hydro plant will meanwhile produce
184,000 kWh of electricity a year, equivalent to the consumption
of 54 households. Photovoltaics is a fast-growing industry, as the
production of electricity with solar power has recorded annual
growth of 40% in the last five years. The number of solar plants
in Slovenia has been doubling every year since 2005, but most
are small installations. According to Polak, the trend means that
the total installed power of Slovenian solar plants will stand at
6.5 MW by 2010, with an annual production of over 6 GWh.
EXPORTS UP 9.5% IN JANUARY
Slovenia's exports totalled EUR 1.59bn in January, up 9.5%
from the same period last year. Imports soared by 15.4% to
EUR 1.8bn, the Statistical Office said on 11 March. With exports
17
totalling 88.0% of imports, the monthly trade gap narrowed to
EUR 217m, down from EUR 314m in December. Exports to EU
Member States increased nearly 10% over the year before to EUR
1.18bn, and accounted for 74.6% of total exports. Imports from
the 26 other Member States, which were up 11.7% from the
previous year to EUR 1.39bn, represented 77% of total imports.
ERIC BERNARD NEw CEO Of RENAULT
SUBSIDIARY
Eric Bernard has been appointed Director-General of the Renault
Slovenia group. He will oversee the production in Revoz, Renault's
Slovenian subsidiary, and the commercial activities of Renault
Nissan Slovenia, the company wrote in a press release issued
on 11 March. Bernard, the Director-General of Renault Nissan
Slovenia, the French carmaker's sales subsidiary, was appointed
by the Renault regional management committee to replace
Marcel Brouiller, who was transferred in mid-January to a similar
position in Renault's plant in Le Mans. Brouiller successfully
launched the production of the next-generation Twingo model
in Revoz last spring. The plant in Novo Mesto is the only Renault
factory making the new model.
vIzJAK: GOvT wANTS TO ATTRACT
CITIzENS TO INvEST
The government believes Slovenian citizens must be attracted
to invest in solid state property. Economy Minister Andrej Vizjak
therefore said he believes the national telco's future ownership
structure could combine a strategic owner and co-ownership
by citizens. An initial public offering is not ruled out, while it is
also not being announced ≈because the proposal still needs to
be examined«, Vizjak said on 15 March. He would also not rule
out the possibility that Telekom Slovenije will not be offered for
sale at all. He believes the tender for the sale of nearly half the
telco was published at the right time, when financial markets
were upbeat. The initial bids too indicated a good result, but the
global financial turmoil later prompted caution on the part of the
bidders. Since the situation on the markets is still deteriorating,
Vizjak does not think it would be sensible to repeat the tender in
the next few months, but the government will consider modifying
its withdrawal. ≈We are not ruling out the option of an initial
public offering, which does not depend on financial markets,«
the minister said, suggesting the shares could be offered to
citizens who are long-term investors. Such investors could then
be rewarded for their long-term ownership of Telekom. ≈We
do not want speculation in these shares,« Vizjak said. Asked
how serious the plans to build a second reactor at the Krško
Nuclear Power Plant were, Vizjak said the project would become
topical ≈if we fail to secure Slovenia's energy supply with other
measures«. Another important factor is a successful solution to
the issue of a radioactive waste depository. The search for an
adequate location is progressing well, so that Vizjak expects a
decision by the summer.
GOvERNMENT ALLOwS 24,600 wORK
PERMITS fOR fOREIGNERS fOR 2008
The government adopted a decree setting the quota of work
permits for non-EU citizens at 24,600 for 2008, a figure proposed
by the Labour Ministry and endorsed by the Economic and Social
Council. The figure is based on projected economic growth,
february 08 sinfo