Jun 122015
 
By Pippa Gallop (Bankwatch) and Yann Louvel (BankTrack), 12 June 2015
This blog post is published jointly with Bankwatch.

Slovenia’s newly built Sostanj 6 power plant is expected to generate losses of around EUR 200 million over the next 3-4 years. This was the view put forward at a recent panel discussion in Zagreb by Blaz Kosorok, General Director of Holding Slovenske Elektrarne (HSE), Slovenia’s state-owned power generation company and the country’s largest company.

Given that Croatia’s Plomin C project shares some of Sostanj 6’s features – failure to really consider alternatives, a lack of transparency about costs, and failure to properly include the public in decision-making – could Croatia be about to repeat its neighbour’s mistakes? And how is the only major international financier involved in Plomin C to date – Crédit Agricole – viewing its own future in another looming Balkan coal power debacle? Continue reading »

Jun 032015
 
By Yann Louvel and Greig Aitken, BankTrack, 3 June 2015

It must have been a bewildering scene at the Paris headquarters of Crédit Agricole last Wednesday when the news came through that rival bank BNP Paribas would be joining other French multinationals such as EDF, Engie, Renault Nissan and Air France as official sponsors of the United Nations Climate Summit (COP21) to be held in the French capital at the end of the year. Continue reading »