EIB Grants €243 Million for Renewable Projects

The European Investment Bank (EIB) has committed €243 million to support renewable energy projects by ERG Group across Italy, France, and Germany, contributing to EU energy targets and national climate plans. This financing will facilitate the development of three new onshore wind farms in France, the repowering of two wind farms in Italy and one in Germany, and upgrades to seven solar plants in Italy, together providing enough energy for over 200,000 families. In North Macedonia, the European Bank for Reconstruction and Development (EBRD) is enhancing its green finance efforts by providing a €4 million loan to Komercijalna Banka AD Skopje, aimed at helping small and medium-sized enterprises adopt renewable energy solutions. This initiative is part of a broader UN Joint Programme designed to promote sustainable financing and reduce greenhouse gas emissions in the region. Both the EIB and EBRD emphasize their commitments to supporting the transition to a greener economy and enabling local industries to grow sustainably. The EIB's loan exceeds the typical 50% financing for such projects, highlighting its alignment with the REPowerEU goals, while the EBRD's support targets underserved sectors in North Macedonia.