Funding for Renewables Takes Top Spot for EBRD

34% of the European Bank for Reconstruction and Development’s (EBRD) annual investment in 2014 provided for sustainable energy and climate finance

The EBRD’s engagement in support of sustainable energy has passed a new milestone: for the first time the Bank’s investments in renewables overtook those for thermal power generation.

Between 2006 and the end of 2014, the EBRD invested €16.4 billion in sustainable energy and climate change projects under the framework of the Sustainable Energy Initiative. Financing for renewable energy generation represented roughly 23% or approximately €4 billion.

Meanwhile, the Bank’s investments in the overall power sector over the same period amounted to €9.8 billion. Of this total, €3.65 billion were invested in thermal power generation. This included the rehabilitation of existing infrastructure and investments in gas fired power plants, which support the further expansion of renewable energy as flexible back-up generation.

With these results the EBRD has become the largest renewable energy investor in the regions where it operates, and in many countries the Bank has pioneered the use of renewable energy resources.

Friday 11th September 2015

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