Image credit: Stock

Voltalia has received a €23 million boost from the European Bank for Reconstruction and Development (EBRD).

The investment, for 2.8% of Voltalia is part of a large capital drive to finance the firm’s 2020/2023 investment programme, and EBRD’s investment is to help the company expand its activities in countries in which the EBRD invests.

The renewables producer is active in solar, wind, biomass, hydro and storage markets, and plans to more than double its current total capacity to over 1.6GW of assets in operation, or various stages of construction.

The EBRD said: “As a shareholder, the Bank brings a wealth of experience in financing renewable energy projects and in-depth knowledge of the business environment and regulatory frameworks in the countries where it invests.”

Related Stories:
-To read more on renewable energy, click here
ABB sells off solar inverter division
2019 results on solar funding, merger and acquisitions released
Crawling robots could feature on a wind turbine near you