The European Bank for Reconstruction and Development (EBRD) is lending up to €70 million to Slovenia-based NGEN Energetske Rešitve to finance the construction and operation of five large-scale battery energy storage systems (BESS) across Latvia, Poland, Romania and Slovenia, according to a press release issued on 20 May 2026. The investment is enabled by InvestEU de-risking and aims to bolster grid stability and energy security in four European Union member states. The BESS units will be supplied by Tesla, a US-based manufacturer of battery storage technology. Together, the facilities will deliver a total of 302 MW of stored energy capacity. The systems will operate under a merchant model, selling generated energy directly into the wholesale market.
BESS technology reduces the risk of blackouts and supports the integration of growing volumes of renewable energy into electricity grids. Expanding BESS availability within national energy systems is considered critical for developing more flexible and resilient power systems. Large-scale energy storage remains underdeveloped in several markets across the region. The EBRD is a large institutional investor in Latvia, Poland, Romania and Slovenia. It supports private sector development, energy security and the green transition through long-term financing, policy engagement and technical assistance.
The project comprises 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. NGEN is a vertically integrated energy storage company that develops and operates BESS assets. It also provides engineering, procurement and construction services for large-scale BESS and supplies residential, commercial and industrial battery systems. The company uses Tesla-supplied battery systems across its portfolio.
Alongside financing, the EBRD will help NGEN strengthen its cybersecurity resilience through dedicated technical cooperation. The support will help the company implement industry-aligned standards, carry out penetration testing of industrial systems and deploy advanced cyber-risk mitigation solutions. This assistance is expected to enhance operational reliability and reduce exposure to cyber threats. The project also promotes greater gender inclusion in the energy sector. NGEN has committed to increase the share of women in its workforce to 27 per cent from 22 per cent over the next five years, supported by targeted outreach and visibility initiatives showcasing female professionals.
The transaction benefits from a first-loss guarantee and technical assistance from the EU under its InvestEU Fund and Advisory Hub. The EBRD is a leading implementing partner for the EU’s InvestEU programme, which supports sustainable investment, innovation and job creation in the region. The programme aims to trigger more than €372 billion in additional investment in 2021-27. Between 2022 and 2027, InvestEU guarantees worth €777 million will be leveraged by the EBRD to finance investments of up to €3.8 billion in eligible sectors. The investment underscores the EBRD’s continued role in advancing energy security and grid resilience across central Europe.
