The European Bank for Reconstruction and Development (EBRD) is backing a five-country merchant battery storage push by Slovenian developer NGEN Energetske Rešitve with a €70 million ($81.3 million) loan supported by an EU first-loss guarantee, in one of the first multi-country merchant BESS portfolios in central Europe.
May 22, 2026
The EBRD, a multilateral development bank, has provided a €70 million loan to Slovenia-based NGEN Energetske Rešitve to finance five large-scale battery energy storage systems (BESS) across Latvia, Poland, Romania, and Slovenia, backed by a first-loss guarantee from the EU's InvestEU Fund.
The five systems will deliver a combined 302 MW of capacity, according to the EBRD. The portfolio includes one system each in Latvia, Romania, and Slovenia, and two in Poland. The EBRD said the facilities in Latvia and Slovenia will be among the largest standalone utility-scale BESS in their respective markets, where large-scale energy storage remains underdeveloped. All systems will be supplied by Tesla and will operate under a merchant model, selling directly into wholesale markets.
The EBRD described the transaction as one of the first multi-country merchant-based storage portfolios in central Europe. The investment is supported by InvestEU de-risking through a first-loss guarantee and technical assistance from the EU Advisory Hub.
