European Bank for Reconstruction and Development

The London-based lender has committed more than €50 million to the €218 million exercise which will cost issuer Tauron more to finance if the utility falls short of its 2030 decarbonization targets.

The development lender will supply three-quarters of the funds as Hellenic Petroleum aims to raise €100 million for a reported 18 solar sites in the nation’s coal heartland.

Law firm Riad & Riad has confirmed the levy will be applied but said the level of the charge had not been determined, despite a report to the contrary in one local newspaper.

The Caucasian nation could use its hydropower resources to generate the sustainable fuel for transport in its gas pipeline network. An agreement to cost the development of such an industry formed part of a deal which will see the EBRD lend the Georgian Oil and Gas Corporation €217 million to help it through a Covid-19-related cash crisis.

The new material is not commercially available yet, but in trials the materials allegedly proved its technical and economical superiority over NMC 622, NMC 811 and NCA batteries.

Korporata Elektroenergjetike Shqiptare began development of the €13.9 million facility in December 2018. The European Bank for Reconstruction and Development is considering lending €9.5 million to a project which it is said would help reduce the electric company’s reliance on hydro revenues.

The country’s previous solar target was 4 GW by 2031. Around 1.4 GW of large scale projects are expected to be tendered this year, according to a document published by the Ministry of Energy.

The government is being helped by the European Bank for Reconstruction and Development as it designs a new net metering system. The country already supports large scale PV plants and small solar parks.

State-owned Elektrani na Severna Makedonija will begin construction on a 10 MW solar plant at its redundant coal plant in Oslomej after signing the engineering, procurement and construction deal with a Turkish contractor. The utility is planning to tender a 10 MW extension of the plant and two more 50 MW solar facilities.

The European Bank for Reconstruction and Development is offering the funds to Egypt’s transmission system operator to strengthen the country’s grid to host more renewable energy in anticipation of rising power demand over the coming decade.