European Bank For Reconstruction And Development Provides €70 Million Loan To Expand Large-Scale Battery Storage Projects In Europe

The European Bank for Reconstruction and Development (EBRD) is providing a €70 million loan to NGEN Energetske Rešitve, a Slovenia-based energy storage company, to support the expansion of large-scale battery energy storage infrastructure across Central and Eastern Europe. The investment is aimed at improving electricity grid stability and strengthening energy security in several European Union countries.

The financing will be used to build and operate five utility-scale battery energy storage systems (BESS) located in Latvia, Poland, Romania, and Slovenia. These systems will collectively provide 302 MW of energy storage capacity. The batteries will be supplied by Tesla, a US-based company known for its advanced and widely deployed energy storage technology.

Once operational, the facilities will operate under a merchant model, meaning they will sell electricity directly into the wholesale energy market.The project includes one battery installation in Latvia, two in Poland, one in Romania, and one in Slovenia. The facilities in Latvia and Slovenia are expected to become among the largest standalone battery storage systems in their respective markets, where large-scale energy storage infrastructure is still relatively limited.Battery energy storage systems play an important role in modern electricity networks.

They help reduce the risk of power outages, improve grid stability, and support the integration of renewable energy sources such as wind and solar power. As more renewable energy is added to national grids, flexible storage solutions like these are becoming increasingly important for maintaining reliable electricity supply.

In addition to financing the infrastructure, the EBRD will support NGEN through technical cooperation focused on strengthening cybersecurity. This includes helping the company adopt industry-standard security practices, conducting penetration testing of industrial systems, and implementing advanced cyber-risk protection measures. These steps are intended to improve operational reliability and reduce exposure to digital threats.The project also includes a commitment to improving gender balance within NGEN’s workforce.

The company plans to increase the share of women employees from 22 per cent to 27 per cent over the next five years, supported by targeted recruitment efforts and initiatives that highlight women working in the energy sector.The transaction benefits from support under the European Union’s InvestEU programme, including a first-loss guarantee and technical assistance through the InvestEU Fund and Advisory Hub.

This support is designed to reduce investment risk and encourage more funding for sustainable infrastructure projects across Europe.NGEN Energetske Rešitve is a vertically integrated company that develops and operates battery storage systems, provides engineering, procurement, and construction services for large-scale energy storage projects, and supplies battery solutions for residential, commercial, and industrial customers.

The company uses Tesla battery technology across its projects.The EBRD is one of the key implementing partners of the EU’s InvestEU programme, which aims to mobilise hundreds of billions of euros in additional investment across Europe for sustainable development, innovation, and job creation.The EBRD remains a major institutional investor in Latvia, Poland, Romania, and Slovenia, where it continues to support energy security, private sector growth, and the transition toward cleaner and more resilient energy systems through long-term financing and technical assistance.