The funds will be lent to two special purpose companies established by the Lithuanian Modus Group. The two plants will have a total installed capacity of 3 MW and be able to generate 23.6 GWh of clean energy annually.
The project is supporting foreign direct investment in Belarus’ power sector and will be reducing CO2emissions by an estimated 9,100 tonnes per year. In addition, the plants will provide a clean, efficient solution to the problem of dealing with large quantities of agricultural waste.
The project supports cross-border investments, and is the EBRD’s second transaction with Modus Group.
Technical assistance for the project has been provided by the government of Japan.
Since the start of its operations in Belarus in 1992, the EBRD has invested almost $2.7 billion (€2.4 billion) in 112 projects in various sectors of the country's economy.