EBRD backs renewable energy expansion in south-eastern Europe

The European Bank for Reconstruction and Development (EBRD) is providing a €175 million loan to Public Power Corporation (PPC) to support renewable energy projects across Bulgaria, Greece and Romania, according to a press release issued on 8 June 2026. The financing will enable the planning, construction and operation of approximately 400 megawatts of new wind and solar capacity. It will benefit from support under the InvestEU programme, which provides a first loss guarantee backed by the European Union. The arrangement is designed to advance decarbonisation efforts across south-eastern Europe. It also marks a continuation of EBRD’s longstanding cooperation with PPC.

PPC is the leading integrated utility group in south-eastern Europe, with activities spanning electricity generation and distribution and the sale of advanced energy products and services. The company operates primarily in Greece, North Macedonia and Romania. It also has a growing renewable-energy footprint in Bulgaria, Croatia and Italy. The EBRD has invested more than €26 billion across Bulgaria, Greece and Romania. These investments aim to foster sustainable growth, competitiveness and the transition to a green economy.

The InvestEU risk-sharing mechanism will allow longer-term financing on terms not readily available in the market. It is expected to support the rollout of large-scale renewable energy investments across multiple countries. The project will increase the share of renewable sources in the three countries’ power systems. It is expected to generate around 760 gigawatt-hours of clean electricity annually. This is estimated to reduce annual carbon dioxide emissions by approximately 390,000 tonnes, equivalent to taking around 260,000 average passenger cars off the road each year.

Alongside climate change mitigation, the project will help improve energy security in the region. It also includes a grant of approximately €75,000 under InvestEU’s social investment and skills mandate to support skills development linked to the energy transition. As part of the project, PPC will establish an accredited training programme focused on battery energy storage systems, developed in partnership with the European Battery Academy. The programme is expected to train up to 150 engineers by 2028. It will also include measures encouraging women to take on technical and leadership roles within the energy sector.

The initiative builds on the Bank’s longstanding cooperation with PPC in Greece, supporting the country’s transition to clean and sustainable energy generation. It reinforces the EBRD’s role as a key investor in Bulgaria, Greece and Romania. The combined effort aims to boost clean energy supply across the region. It also supports inclusive participation in the energy workforce. The project advances both climate and economic goals in south-eastern Europe.