January 14 (Renewables Now) - The European Bank for Reconstruction and Development (EBRD) is considering supporting the construction of 7 MW of biogas plants in Belarus with up to USD 24 million (EUR 20.9m) in financing.
The lender said on Friday it yet to take a final decision on an application for a senior secured loan that would be extended to four special purpose vehicles that will develop and operate four biogas power facilities. The four entities are all units of Lithuania’s UAB Modus Group.
The overall cost of the 7-MW biogas project is estimated at USD 34.5 million (EUR 30.5m). The scheme will benefit from some EUR 60,000 from the government of Japan, which will be used for the technical due diligence.
Status of the loan: Concept Reviewed
Target board date: February 13, 2019
When completed, the four biogas plants will sell their output to units of Belarus’ state-owned utility Belenergo. They are expected to save more than 26,800 tonnes of carbon dioxide (CO2) emissions per year and help improve waste reduction.
According to EBRD’s statement, Belarus currently has 266 MW of installed renewable capacity, responsible for 2.5% of its total power generation capacity.
(USD 1.0 = EUR 0.872)