The European Bank for Reconstruction and Development (EBRD) announced on Monday, June 8, that it will provide a EUR 175 million loan to Greek utility group Public Power Corporation (PPC) to support renewable energy projects in Romania, Greece, and Bulgaria. The financing will enable the planning, construction, and operation of roughly 400 megawatts of new wind and solar capacity.

According to the EBRD, the loan benefits from support under the European Union's InvestEU programme, which provides a first-loss guarantee and enables longer-term financing for large-scale renewable energy investments.

The projects are expected to generate around 760 gigawatt-hours of clean electricity annually and reduce carbon dioxide emissions by approximately 390,000 tonnes per year. The emissions savings are equivalent to removing around 260,000 passenger cars from the roads each year, the bank said.

The project also includes a grant of approximately EUR 75,000 under InvestEU's social investment and skills programme. The funding will support the creation of an accredited training programme focused on battery energy storage systems, developed in partnership with the European Battery Academy. The initiative is expected to train up to 150 engineers by 2028 and will include measures aimed at encouraging greater participation of women in technical and leadership roles within the energy sector.

PPC is one of southeastern Europe's largest integrated utility groups, operating in electricity generation, distribution, and energy services. The company is active in Greece, North Macedonia, and Romania, while also expanding its renewable energy presence in Bulgaria, Croatia, and Italy.

The EBRD is a key investor in Bulgaria, Greece, and Romania, having invested more than EUR 26 billion across the three countries.

irina.marica@romania-insider.com

(Photo source: Oleg Kryuchko/Dreamstime.com)