EBRD Updates On Progress In Renewable Energy Projects In Western Balkans (Exclusive)

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 16. The European Bank for Reconstruction and Development (EBRD) is stepping up efforts to accelerate the green energy transition in the Western Balkans, combining major investments with sweeping policy support and technological innovation, said Matteo Colangeli, the EBRD's Regional Director for the Western Balkans, in an interview with Trend .

"The EBRD is leading the green energy transition in the Western Balkans through a comprehensive approach that includes not only significant investments in renewable energy, but also wider decarbonization initiatives," he said.

To date, the EBRD has committed over 1.35 billion euros in support of more than 1 GW of renewable energy generation across the region. Alongside this, the bank is working with governments to create a favorable policy environment that can attract further private investment.

"In Serbia and Albania, we are providing policy support through competitive and transparent renewable energy auctions," Colangeli explained. "These auctions are aimed at mobilizing private sector investments for decarbonization, allocating support to nearly 1.6 GW of solar and wind capacities, driving major private sector investment, and accelerating the deployment of renewables".

Beyond electricity, the EBRD is targeting the decarbonization of district heating systems - an area Colangeli described as "an important priority that we are pursuing across the region". One flagship project is in Novi Sad, Serbia, where a 105 million euro investment is funding an innovative solar-thermal project.

"This project will deploy large-scale seasonal storage, heat pumps, and power-to-heat technology, cutting fossil fuel use and improving air quality," he said, noting the project's dual focus on innovation and environmental impact.

Energy efficiency is another pillar of the EBRD's approach, particularly in buildings. The Bank is investing in both public and residential building upgrades to reduce demand and enhance energy performance.

"We are also preparing a project that targets multi-apartment buildings, maximizing impact and supporting the shift to consumption-based billing," Colangeli added.

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