As stated on the project summary, the DFC Guaranty will facilitate the refinancing of certain EP existing debt. EP will also invest EUR 300 million in hydro power plant rehabilitation and electricity distribution assets in the Republic of Bulgaria and Georgia over the next several years, offsetting reliance on energy imports from Russia.
In Bulgaria, the Project will support grid expansion and upgrades to enable the connection of wind, solar, and biomass generators, increasing the capacity of renewable energy sources on the grid by an anticipated 471 MW.
In Georgia, the Project will be focused on rehabilitation and maintenance of existing hydropower resources as well as grid upgrades, which are expected to reduce technical losses and the frequency and duration of power outages.
As stated on the company's website, ENERGO-PRO operates hydroelectric power stations in the Central and East Europe, and the Black Sea and Caucasus regions. Originally a Czech company, it gradually expanded to Bulgaria, Georgia, and Turkey.
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No project contacts provided at the time of disclosure.
Client - Energo-Pro AS:
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