The European Bank for Reconstruction and Development (EBRD) is strengthening grid stability and energy security in central Europe by lending up to 70 million euro ($81 million) to Slovenia-based energy storage company NGEN Energetske Resitve, the lender said on Wednesday.
The investment will finance the construction and operation of five large scale battery energy storage systems (BESS) across Latvia, Poland, Romania and Slovenia, the bank said in a press release.
The BESS will be supplied by US-based manufacturer of battery storage technology Tesla, providing a proven and widely deployed technology for large scale applications. The systems will deliver a total of 302 MW of stored energy capacity, strengthening electricity grid stability in four European Union (EU) member states. They will operate under a merchant model, selling the generated energy directly into the wholesale market.
The project includes one battery system in Latvia, two in Poland, one in Romania and one in Slovenia. The facilities in Latvia and Slovenia will be among the largest standalone utility scale battery installations in their respective markets, where large scale energy storage remains underdeveloped.
The transaction benefits from a first loss guarantee and technical assistance from the EU under its InvestEU Fund and Advisory Hub, said the EBRD, which is a leading implementing partner for the EU’s InvestEU programme, which supports sustainable investment, innovation and job creation in the region.
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 uses battery systems supplied by Tesla across its portfolio.
(SeeNews, May 20, 2026)
