EBRD supports Modus Group expansion in Belarus
EBRD providing US$ 11.3 million for construction of 2 biogas plants
Modus Group of Lithuania to add 3 MW to its installed capacity in Belarus
Project to achieve significant CO2 reductions
The EBRD 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 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 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 €2.4 billion in 112 projects in various sectors of the country's economy.