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NGEN Energetske Rešitve has raised up to €70 million from the EBRD to support 5 large-scale BESS projects
The projects will add a combined 302 MW of battery energy storage capacity across 4 European nations
Alongside financing, the EBRD is supporting NGEN with cybersecurity measures to improve operational reliability and reduce cyber risks
The European Bank for Reconstruction and Development (EBRD) has approved up to €70 million to support 5 large-scale battery energy storage systems (BESS) in Central, Southeast, and Northern Europe. The financing is enabled by the InvestEU Fund and Advisory Hub de-risking.
Slovenia-based energy storage company NGEN Energetske Rešitve, as the beneficiary, will use the proceeds to finance the construction and operation of BESS projects, totaling 302 MW of energy storage capacity.
NGEN uses batteries supplied by US-based Tesla across its portfolio. According to the bank, these facilities will operate under a merchant model, selling the energy they generate directly into the wholesale market.
Of the 5, one battery system will be installed in each of Latvia, Romania, and Slovenia, and the remaining 2 will be installed in Poland. The facilities in Latvia and Slovenia will be among the largest standalone utility-scale battery installations in these respective markets. Earlier this year, Poland’s ONDE announced a BESS project that will be one of the largest electricity storage facilities in Poland and among the largest in Europe (see Global Battery Storage News Snippets).
The EBRD-backed systems will help improve grid stability across 4 European Union (EU) member states as BESS helps lower blackout risks and supports the integration of renewable energy. “Increasing BESS availability within national energy systems is critical for the development of more flexible and resilient power systems,” said EBRD.
Alongside the financing, the EBRD is helping NGEN strengthen its cybersecurity systems through technical cooperation. The support includes implementing industry-aligned standards, conducting penetration tests on industrial systems, and introducing advanced cyber-risk protection measures.
The bank believes it will improve operational reliability, lower exposure to cyber threats, and bring NGEN’s digital infrastructure closer to international best practices.
In a recent study, SolarPower Europe said faster adoption of solar, storage, and electrification in the EU could reduce the bloc’s reliance on gas and lower wholesale power prices and volatility (see EU Solar + Storage Could Cut Power Costs By 49% By 2030).
