The European Bank for Reconstruction and Development (EBRD) has approved a €175 million loan to support renewable energy development by the Public Power Corporation (PPC) across Bulgaria, Greece, and Romania. The financing will help expand wind and solar energy infrastructure in south-eastern Europe, contributing to the region’s transition toward cleaner and more sustainable energy systems. The investment highlights the growing commitment of European institutions to accelerate decarbonisation and strengthen energy security through renewable energy projects.
The funding will support the planning, construction, and operation of approximately 400 megawatts of new renewable energy capacity. These projects are expected to significantly increase the availability of clean electricity in the participating countries, reducing dependence on fossil fuels and supporting national and regional climate objectives. By expanding renewable generation capacity, the initiative will help create a more resilient and sustainable energy sector.
A key component of the financing package is the support provided through the InvestEU programme, which offers a first-loss guarantee backed by the European Union. This risk-sharing mechanism enables longer-term financing conditions that may not otherwise be available through traditional market channels. The arrangement is designed to encourage large-scale renewable energy investments and facilitate the deployment of clean energy infrastructure across multiple countries.
The new wind and solar projects are expected to generate approximately 760 gigawatt-hours of renewable electricity annually. This substantial increase in clean energy production will contribute to a higher share of renewable energy within the electricity systems of Bulgaria, Greece, and Romania. The additional renewable generation will support efforts to reduce greenhouse gas emissions and advance Europe’s broader climate commitments.
Environmental benefits from the project are expected to be significant. The renewable energy installations are projected to reduce carbon dioxide emissions by approximately 390,000 tonnes each year. This reduction is comparable to removing around 260,000 passenger vehicles from the roads annually, demonstrating the project’s meaningful contribution to climate change mitigation and environmental sustainability.
Beyond environmental gains, the investment is also expected to improve regional energy security. Increasing domestic renewable energy production can help reduce reliance on imported fuels and strengthen the stability of electricity supplies. As energy markets continue to face geopolitical and economic uncertainties, investments in renewable energy play an increasingly important role in enhancing long-term energy resilience.
The initiative also includes a social and workforce development component supported through an additional grant of approximately €75,000 under InvestEU’s social investment and skills mandate. The funding will support training programmes aimed at developing the workforce needed for the ongoing energy transition. Building technical expertise is considered essential for ensuring the successful deployment and operation of advanced renewable energy technologies.
As part of this effort, PPC will establish an accredited training programme focused on battery energy storage systems in collaboration with the European Battery Academy. The programme is expected to train up to 150 engineers by 2028, helping address the growing demand for specialized skills in energy storage and renewable energy integration. Battery storage technologies are becoming increasingly important for managing renewable energy generation and maintaining grid reliability.
The training initiative will also promote greater diversity and inclusion within the energy sector. Specific measures will encourage women to participate in technical and leadership roles, helping address gender gaps in science, technology, engineering, and energy-related professions. By combining workforce development with inclusion objectives, the project aims to create broader social benefits alongside environmental progress.
The investment further strengthens the long-standing partnership between EBRD and PPC in supporting clean energy development. As one of south-eastern Europe’s leading integrated utility groups, PPC continues to expand its renewable energy portfolio across several European countries. Through strategic investments in renewable infrastructure, energy storage, and workforce development, the project represents an important step toward a greener, more sustainable, and economically resilient energy future for the region.
