EBRD is actively supporting the development of the renewable energy sector within its countries of operation as part of its objective to improve the environmental performance and long-term stability of the power sector."
'via Blog this'Banks Provide Critical Support for Hydro Project Development: "EBRD approved a loan of €110 million ($149.8 million) to state-owned hydropower company Hidroelectrica S.A. in May 2011 for modernization work at the 210 MW Stejaru Bicaz project in Romania. The loan will finance rehabilitation of six units at this project, on the Bistrita River in northeastern Romania, ensuring a new life cycle for the entire power plant of at least 30 years, with increased availability, efficiency and safety in operation. This is the oldest hydro project in the country. Total project cost is estimated to be €136.9 million.
In April 2011, an announcement was made that EBRD will lend Macedonia €6 million ($8.2 million) for small hydro development. Macedonian PCC Hydro DOOEL Skopje will get the loan for four plants with total capacity of 4.1 MW.
Together, the European Bank for Reconstruction and Development and the World Bank's International Finance Corporation are providing a $115.5 million credit to Georgia-Urban Energy to co-finance the construction and operation of its 87 MW Paravani project on the Paravani River in Georgia. IFC will provide $40.5 million and EBRD will provide $52 million. The remaining $23 million will be syndicated via commercial banks. EBRD also will take $5 million in equity in Georgia-Urban Energy. Paravani will help the country reduce carbon-based generation and cut dependence on imported fuels in winter months. Total cost of the project is anticipated to be about $160 million.
