The EBRD has become the largest renewable energy investor in the regions where it operates, as it unveils that its investments in renewables has overtaken 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.

Of the renewables investments, this includes a number of hydropower projects. In July last year for example, it financed a US$50 million loan to fund the first phase of the modernisation of the Qairokkum hydropower plant – its largest project in Tajikistan to date and one of the largest in the country’s energy sector ever.