The European Bank for Reconstruction and Development (EBRD) has lent €18 million to finance the 32.4-megawatt (MW) Kitka Wind Farm in eastern Kosovo, the bank announced in a statement on Tuesday.
The investment represents a milestone towards decarbonization in a country where a lack of reliable access to electricity remains one of the biggest barriers to development, the statement said.
The project at Kitka has already begun operations, having been developed by Turkish energy group Guris.
"It will raise annual national electricity generation by more than 1.4% and reduce emissions by 81,000 tons of carbon dioxide a year," the bank stated.
Kosovo‘s current energy strategy sets an ambitious target to introduce about 400 MW of renewable projects by 2026.
The EBRD aims to make 40% of its annual investments in the green economy by 2020.
"To date, the EBRD has invested €376 million in 64 projects in Kosovo," the bank said.
By Gulsen Cagatay