NGEN BESS (EBRD-55451)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Latvia
  • Poland
  • Romania
  • Slovenia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 29, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
NGEN Energetske resitve d.o.o.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 80.49 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 70
Converted using 2026-03-16 exchange rate.
Loan Amount (USD)
$ 80.49 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 70
Converted using 2026-03-16 exchange rate.
Project Cost (USD)
$ 187.42 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 163
Converted using 2026-03-16 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 30, 2026

Disclosed by Bank Mar 16, 2026

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the NGEN BESS Project involves the development, construction, and operation of five standalone battery energy storage facilities across Slovenia, Poland, Latvia, and Romania, with a combined capacity of 302 MW / 635 MWh. The Project represents one of the first multi-country, merchant-based storage portfolios in the region and is expected to play a critical role in energy security by supporting grid stability and enabling the integration of increasing volumes of renewable generation. The Project's financing structure consists of a senior secured loan of up to EUR 70 million, eligible for capital, operating, and development expenditures. The operation is expected to benefit from a first-loss guarantee under the InvestEU Fund, supporting sustainable infrastructure development across EU Member States.

The Project aims to enhance energy system resilience by providing flexible, fast-responding storage capacity optimised through NGEN's AI-driven Energy Smart Grid Platform. This will help reduce renewable curtailment, alleviate critical grid bottlenecks, and support realitime balancing and ancillary services across the Project's target markets. Ultimately, the Project contributes to national and EU-wide decarbonisation objectives by enabling higher renewable energy integration, improving system reliability, and supporting the transition toward a more flexible, low-carbon electricity mix.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, the Borrower will be NGEN Energetske resitve d.o.o., a vertically integrated energy storage company headquartered in Slovenia. NGEN develops and operates utility-scale BESS assets, provides EPC services for large-scale storage projects, and supplies residential and commercial-industrial battery solutions. The Company also leverages its proprietary digital energy optimisation and aggregation platform to coordinate grid-connected assets and support realitime participation in electricity markets. The Borrower is privately owned by three ultimate beneficial owners (Damian Merlak, Roman Bernard, and Bostjan Bandelj), each holding approximately one-third of the Company's shares.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - NGEN Energetske resitve d.o.o. Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - NGEN Energetske resitve d.o.o.:

Mariana Pinto Veiga
Email: mariana.veiga@ngen-group.eu 
Phone: (04) 581 20 20
Website: https://www.ngen-group.eu/ 
Address: NGEN, energetske resitve d.o.o. Moste 101, 4274 Zirovnica, Slovenia

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html

How it works

How it works