EBRD supports Modus Group biogas expansion in Belarus
The European Bank for Reconstruction and Development (EBRD) has announced that it is supporting renewable power generation and a better energy supply mix in Belarus with the provision of a US$11.3 million loan for the construction of two biogas plants in the country. The funds will be lent to two special purpose companies established by the Lithuanian UAB 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.
According to the EBRD, the project is supporting foreign direct investment in Belarus’ power sector and will be reducing carbon dioxide (CO2) emissions by 9 100 tonnes annually. 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 EUR 2.4 billion in 112 projects in various sectors of the Belorussian economy.