EBRD lends €70 million to Slovenian developer NGEN for five-country battery storage portfolio
Type: Financing · Technology: Storage · Country: Latvia, Poland, Romania, Slovenia · Capacity: 302 MW · Announced: 2026-05-22
The European Bank for Reconstruction and Development (EBRD) has provided a €70 million ($81.3 million) loan to Slovenian developer NGEN Energetske Rešitve to finance five large-scale battery energy storage systems (BESS) across Latvia, Poland, Romania, and Slovenia. The portfolio will deliver a combined 302 MW of capacity, with one system each in Latvia, Romania, and Slovenia, and two in Poland. The facilities in Latvia and Slovenia are expected to be among the largest standalone utility-scale BESS in their respective markets. All systems will be supplied by Tesla and will operate under a merchant model, selling directly into wholesale markets. The transaction is supported by a first-loss guarantee from the EU's InvestEU Fund and technical assistance from the EU Advisory Hub.
Counterparties
- EU's InvestEU Fund (Guarantor)
- NGEN Energetske Rešitve (Borrower)
- EBRD (Lender)