The European Bank for Reconstruction and Development (EBRD) is providing up to €70 million in financing to Slovenian energy storage company NGEN Energetske Rešitve to strengthen grid stability and energy security across central Europe. The investment will support the construction and operation of five large-scale battery energy storage systems in Latvia, Poland, Romania, and Slovenia. These systems will use battery storage technology supplied by Tesla and are expected to improve the flexibility and resilience of electricity networks in multiple European Union member states.
The planned battery energy storage systems will provide a combined storage capacity of 302 megawatts and will operate under a merchant model, allowing energy to be sold directly into wholesale electricity markets. The project includes one battery facility in Latvia, two in Poland, one in Romania, and one in Slovenia. Some of these installations, particularly those in Latvia and Slovenia, will become among the largest standalone utility-scale battery storage facilities in their respective markets, where large-scale energy storage infrastructure is still relatively underdeveloped.
Battery energy storage systems play an increasingly important role in modern energy systems by helping reduce the risk of blackouts and supporting the integration of renewable energy sources such as solar and wind power into national grids. By storing electricity and releasing it when needed, these systems help balance energy supply and demand, making power networks more stable, flexible, and reliable as countries transition toward cleaner energy sources.
In addition to financing the energy infrastructure, the EBRD will support NGEN in strengthening its cybersecurity resilience through technical cooperation initiatives. This support will help the company implement international cybersecurity standards, conduct industrial system penetration testing, and deploy advanced cyber-risk mitigation tools. The initiative aims to improve operational reliability, reduce vulnerability to cyber threats, and ensure that the company’s digital systems align with global best practices.
The project also includes a gender inclusion component focused on increasing women’s participation in the energy sector. NGEN has committed to raising the share of women in its workforce from 22 percent to 27 percent over the next five years through targeted outreach and initiatives designed to highlight female professionals working in the industry.
The transaction benefits from support under the European Union’s InvestEU programme through a first-loss guarantee and technical assistance package. InvestEU is designed to encourage sustainable investment, innovation, and job creation across Europe by mobilizing large-scale public and private financing. The EBRD remains a major investor in countries such as Latvia, Poland, Romania, and Slovenia, supporting projects that promote private-sector growth, energy security, and the green transition through long-term financing and technical assistance.
