Slovak gas firm to invest 400 mn euros in green tech

25th May 2011, Comments 0 comments

Slovakia's top gas company SPP said Wednesday it planned to invest 400 million euros ($562 million) in green technology within next five years.

"SPP will invest 400 million euros in the upcoming five years in eco-friendly technology to offset the impact on the environment and boost reliability and safety of gas distribution," the company said in a statement.

SPP will also invest 90 million euros in maintenance of the grid network and 15 million euros into information technology, it added.

"The company plans to build a geo-thermal plant in eastern Slovakia with a output of 3.5 (Megawatts) 2013," SPP said, without specifying the value of the investment.

SPP is part-owned by German E.ON Ruhrgas which together with France's GDF Suez control 49 percent, while the state owns 51 percent.

© 2011 AFP

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