The European Bank for Reconstruction and Development (EBRD) is strengthening grid stability and energy security in Central Europe by providing a €70 million loan to the Slovenian energy storage company NGEN Energetske Rešitve. The bank's investment will finance the construction and operation of five large-scale Battery Energy Storage Systems (BESS) in Latvia, Poland, Romania, and Slovenia. The BESS will be supplied by Tesla, an American battery energy storage technology manufacturer, offering a proven and widely used technology for large-scale applications.
The systems will deliver a total stored energy capacity of 302 MW, strengthening the electricity grid's stability in four European Union (EU) member states. They will operate on a commercial model, selling the generated energy directly on the wholesale market.
BESS technology reduces the risk of power outages and supports the integration of increasing volumes of renewable energy into power grids. Increasing the availability of BESS within national energy systems is essential for the development of more flexible and resilient energy systems.
The project includes a battery system in Latvia, two in Poland, one in Romania, and one in Slovenia. The installations in Latvia and Slovenia will be among the largest utility-scale standalone battery installations in their respective markets, where large-scale energy storage remains underdeveloped.
In addition to financing, the EBRD is supporting NGEN in strengthening its cybersecurity resilience through dedicated technical cooperation, helping the company implement industry-aligned standards, conduct industrial system penetration tests, and deploy advanced cyber risk mitigation solutions. This support is expected to enhance operational reliability, reduce exposure to cyber threats, and align NGEN's digital infrastructure with international best practices.
The project also promotes greater gender inclusion in the energy sector. NGEN has committed to increasing the proportion of women in its workforce from 22% to 27% over the next five years, supported by specific outreach and visibility initiatives that highlight female professionals.
The transaction benefits from a first-loss guarantee and technical assistance from the EU under the InvestEU Fund and the Advisory Hub.
NGEN is a vertically integrated energy storage company that develops and operates BESS assets, provides engineering, procurement, and construction services for large-scale BESS, and supplies residential, commercial, and industrial battery systems. The company utilizes battery systems supplied by Tesla throughout its portfolio.
BERD is an important implementing partner for the EU's InvestEU programme, which supports sustainable investment, innovation, and job creation in the region. It aims to attract over €372 billion in additional investment between 2021 and 2027. Between 2022 and 2027, BERD will use InvestEU guarantees totalling €777 million to finance investments of up to €3.8 billion in eligible sectors.
BERD is a major institutional investor in Latvia, Poland, Romania, and Slovenia, supporting private sector development, energy security, and the green transition through long-term financing, policy engagement, and technical assistance.