The European Bank for Reconstruction and Development (EBRD) is providing a €175 million loan to Public Power Corporation (PPC) to support the development of renewable energy projects across Bulgaria, Greece, and Romania. The financing will help accelerate the deployment of clean energy infrastructure in south-eastern Europe and contribute to the region’s transition toward a lower-carbon energy system.
The investment will support the planning, construction, and operation of approximately 400 megawatts (MW) of new wind and solar power capacity across the three countries. By increasing renewable electricity generation, the project is expected to strengthen energy security, reduce reliance on fossil fuels, and support national and regional decarbonisation goals.
The loan is backed by support from the European Union through the InvestEU programme, which provides a first-loss guarantee that helps reduce investment risk. This risk-sharing mechanism enables the EBRD to offer longer-term financing under conditions that may not otherwise be available in the market, making it easier to support large-scale renewable energy projects across multiple countries.
Once operational, the new renewable energy assets are expected to generate around 760 gigawatt-hours (GWh) of clean electricity annually. This additional renewable generation will increase the share of clean energy within the power systems of Bulgaria, Greece, and Romania, helping the three countries advance their climate and energy transition objectives.The environmental impact of the project is expected to be significant.
Annual carbon dioxide emissions are projected to decrease by approximately 390,000 tonnes, an amount comparable to removing around 260,000 average passenger vehicles from the roads each year. In addition to reducing greenhouse gas emissions, the project will help diversify energy supplies and improve the resilience of regional electricity systems.
Alongside the renewable energy investment, the initiative includes a grant of approximately €75,000 under InvestEU’s social investment and skills mandate. The funding will support workforce development activities linked to the energy transition and help address the growing demand for specialized skills within the clean energy sector.
As part of this effort, PPC will establish an accredited training programme focused on battery energy storage systems in partnership with the European Battery Academy. The programme is expected to train up to 150 engineers by 2028, helping develop expertise in one of the energy sector’s fastest-growing fields.
The initiative will also include measures designed to encourage greater participation of women in technical and leadership positions within the energy industry, supporting diversity and inclusion across the sector.PPC is one of the largest integrated utility groups in south-eastern Europe, with operations spanning electricity generation, distribution, and the provision of advanced energy products and services.
While the company’s core activities are concentrated in Greece, North Macedonia, and Romania, it has also been steadily expanding its renewable energy portfolio in Bulgaria, Croatia, and Italy. The project builds on the longstanding partnership between the EBRD and PPC, particularly in Greece, where the Bank has supported numerous initiatives aimed at accelerating the transition to cleaner and more sustainable energy generation.
The EBRD remains one of the leading institutional investors in Bulgaria, Greece, and Romania. To date, the Bank has invested more than €26 billion across the three countries, supporting projects that promote sustainable economic growth, improve competitiveness, strengthen infrastructure, and accelerate the transition to a green economy.
Through this latest financing package, the EBRD and PPC are reinforcing their commitment to expanding renewable energy capacity, developing critical workforce skills, and supporting a more secure, sustainable, and resilient energy future for south-eastern Europe.
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