The European Bank for Reconstruction and Development is lending up to €70 million to Slovenian energy storage company NGEN Energetske Rešitve to finance five large-scale battery installations across Latvia, Poland, Romania and Slovenia. A first-loss guarantee from the EU's InvestEU programme underpins the Bank's involvement.
Lithuania’s storage roll-out sharpens key grid lessons
The five Tesla-supplied systems will add 302 MW of storage capacity across four EU member states, operating on a merchant basis with revenues coming from wholesale market sales rather than long-term offtake contracts. The Latvian and Slovenian installations will be among the largest standalone utility-scale batteries in their respective markets, both of which have been slow to develop grid-scale storage, while Poland will receive two systems and Romania one.
Beyond the financing
Alongside the loan, the EBRD is funding technical cooperation on cybersecurity, including penetration testing of NGEN's industrial control systems and the deployment of risk-mitigation tools aligned to international standards. NGEN builds, owns and operates BESS assets, alongside an EPC arm and a residential systems business. The company has also committed to lifting the share of women in its workforce from 22 to 27 per cent over the next five years.
Trinasolar’s Jirku Nemec: Market diversity drives solar potential in CEE
The transaction draws on a wider EBRD pipeline backed by InvestEU guarantees worth €777 million between 2022 and 2027, which the Bank expects to leverage into up to €3.8 billion of financing across eligible sectors. The EBRD is a leading implementing partner for InvestEU, the EU programme aimed at triggering more than €372 billion of additional investment between 2021 and 2027. (TF)
