EBRD Loans €70 Million for Battery Storage in Four Countries

Why this is here: The planned battery systems will deliver a combined 302 MW of capacity, adding significant storage to markets where it remains underdeveloped.

The European Bank for Reconstruction and Development lends €70 million to NGEN Energetske Rešitve of Slovenia to build five battery energy storage systems across Latvia, Poland, Romania, and Slovenia. These systems will combine for 302 MW of capacity, with facilities in Latvia and Slovenia becoming some of the largest of their kind in those markets.

All five storage facilities will use Tesla technology and sell power directly to wholesale markets, a model the EBRD calls one of the first of its kind in central Europe. The EU’s InvestEU Fund provides a first-loss guarantee to support the investment, along with technical assistance from the EU Advisory Hub.

The EBRD is also supporting NGEN with cybersecurity improvements, including testing and advanced risk mitigation. Global grid-scale battery storage has increased significantly in recent years, but challenges remain in fully integrating these systems into existing energy markets. The bank continues to invest in energy storage projects across central and eastern Europe.