LJUBLJANA (SeeNews) – Slovenian coal-fired power plant Sostanj said yesterday it plans to invest 590 million euros in the construction of a new 500-megawatt unit and revamp its existing facilities in order to raise its installed capacity to 940MW. «We will provide 40 percent of the investment from our own sources and the rest will be covered from the European Investment Bank and EU cohesion funds,» Sostanj’s director Uros Rotnik said. The power plant plans to call international tenders for the purchase of the necessary equipment in 2007, Rotnik said. The project is scheduled to be completed in 2012. Sostanj has five units with a combined installed capacity of 755MW and produces between 3.8 and 4.2 billion kilowatt-hours of electricity annually. Its current installed capacity will drop as a result of the closure of outdated facilities under the revamp. The Sostanj power plant is part of Slovenian state-owned energy conglomerate Holding Slovenske Elektrarne, comprising the hydropower complexes located on the Drava, Sava and Soca rivers, the Velenje coal mine and the Brestanica coal-fired power plant.