The financing will enable the planning, construction and operation of new wind and solar capacity of approximately 400 MW, boosting clean energy supply and supporting decarbonisation efforts in southeastern Europe. The loan will benefit from support under the InvestEU programme, which offers a guarantee backed by the EU.

The project will increase the share of renewable sources in total energy production across the three countries and is expected to generate approximately 760 GW-hours of clean electricity annually. It is estimated to reduce annual carbon dioxide emissions by approximately 390,000 tonnes, equivalent to removing around 260,000 average cars from roads each year.

The project also includes a grant of approximately €75,000 under InvestEU's social investment and skills mandate to support skills development related to energy transition. Under the project, PPC will establish an accredited training programme focused on battery energy storage systems, expected to train up to 150 engineers by 2028.

EBRD has invested over €26 billion in Bulgaria, Greece and Romania to promote growth, competitiveness and green economy transition.