European Bank for Reconstruction and Development

The European Bank for Reconstruction and Development (EBRD) and the European Union are investing a combined $61.6 million in a 126 MW solar project in Uzbekistan. A special-purpose company fully owned by French developer Voltalia will develop the plant.

The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) are funding a 99 MW solar project in southwestern Croatia with a total investment of €62 million ($67.2 million). Construction will begin next year, and commissioning is set for 2026.

Nofar Energy has obtained €110 million ($122.5 million) in financing from the European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank International to build two solar projects in Romania with a combined capacity of 300 MW.

The European Bank for Reconstruction and Development (EBRD) has approved a €12.5 million ($13.7 million) loan to finance the construction of two 60 MW solar power plants in Tozeur and Sidi Bouzid, Tunisia. The projects, developed by Scatec and Aeolus, will enhance energy security and support Tunisia’s green transition.

The European Bank for Reconstruction and Development and Eiffel Investment Group are providing €24.4 million in funding for the construction of a 60 MW solar plant in southern Romania.

European renewables developer Qair will build a 10 MW solar plant in western Tunisia with a €3.9 million ($4.2 million) loan from the European Bank for Reconstruction and Development (EBRD), as well as to up to €1 million in concessional funding from Finland.

In this edition of the Weekend Read, we turn to Egypt. The gigawatt-scale Benban project showcases the North African country’s solar potential, and premium prices for gas exports make the case for a more diverse energy mix. A nation with grand renewables targets – but slow installation rates – may finally be weaning itself off fossil fuel resources.

The Serbian government has allocated a quota of 50 MW for its first solar auction. Solar plants with capacity of more than 500 kW will be allowed to participate in the competitive tendering process, with the ceiling price set at €90 ($96.10)/MWh.

UK independent power producer Rezolv Energy has acquired the late-stage development rights to a 1,044 MW solar project in Arad county, Romania. The Eastern European country is preparing to roll out a contract-for-difference (CfD) scheme early next year to deploy 3.5 GW of solar and wind.

Utility-scale solar is stirring in the region, with support from development banks. Following a series of competitive auctions, PV projects have been commissioned and are under development in Uzbekistan and Kazakhstan. In the latter nation, corporate interest in distributed, small-scale renewables is growing but for further market uptake, additional incentives should be introduced, practitioners say.