EPCG, KfW ink EUR 33 million loan for Phase II of HPP Perućica’s reconstruction
Montenegro’s state power utility Elektroprivreda Crne Gore (EPCG) has signed a EUR 33 million loan agreement with German development bank KfW for Phase II of a project to overhaul and modernize the Perućica hydropower plant (HPP), the country’s oldest. The loan agreement for the second phase of HPP Perućica’s reconstruction and modernization was signed by […]
Syndicated loan for Green Group signals stronger backing for sustainable economy
Green Group, which gathers six Romanian companies specialized in waste collection and recycling companies, has secured Romania’s first syndicated loan signaling the local banking sector’s more significant involvement in the circular economy, local media reported. Green Group will use the EUR 66 million loan to refinance its outstanding loans and finance new projects and development […]
TENDERING: Šabac district heating operator seeks heat insulation of 40 residential buildings
The Šabac district heating operator, Toplana-Šabac, has invited bids to execute works on energy efficiency measures including heat insulation, thermostatic valves, and heat allocators. The works on the thermo-insulation of 40 multi-storey residential buildings in Šabac in western Serbia will be financed with a EUR 2.5 million loan from the European Bank for Reconstruction and […]
USD 350 million secured for 3 new units at EFELER, Turkey’s largest geothermal power plant
Turkey’s Gurmat Elektrik, a renewable energy subsidiary of Güriş Holding, has secured a USD 350 million financing package for three new units at EFELER, the country’s largest geothermal power plant, according to a joint press release from three major development banks. EFELER is located in western Turkey, in the region of the Buyuk Menderes Graben […]
Šabac district heating operator to upgrade residential buildings under ESCO model
The Šabac district heating operator, Toplana-Šabac, will act as an energy service company (ESCO) that will take out a loan for its residential users in order to upgrade buildings, with repayment over 12 years to be financed through energy savings, the City of Šabac in western Serbia said. The contract on the loan for thermo-insulation […]
Power utility ERS to borrow EUR 307 million for new renewable energy power plants
The Government of Republika Srpska intends to provide state guarantees for loans worth BAM 600 million (about EUR 307 million) for power utility Elektroprivreda Republike Srpske (ERS) to invest in renewable energy power plants and overhaul coal-fired power plants. The Republika Srpska parliament has adopted a decision on the value of state guarantees that the […]
PPC secures EUR 160 million for distribution network upgrade, expansion
Greece’s Public Power Corporation (PPC) has secured a EUR 160 million loan, backed by a sovereign guarantee, from the Black Sea Trade and Development Bank (BSTDB). The loan will support PPC’s capital expenditure plan concerning the distribution network, the BSTDB said. The proceeds of the loan will be used to finance PPC’s capital expenditures for […]
GGF Impact Stories: Helping Serbia increase energy savings
The Green for Growth Fund (GGF) supports sustainable energy finance and green energy projects through funding, know-how and the tools to succeed in the market. Serbia represents one of the Fund’s largest portfolios and with more than EUR 90 million invested, it is one of the GGF’s biggest success stories to date. The GGF, which […]
