EU provides €6m lending facility for Albanian energy efficiency measures, including PV panels

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Solar panels on private properties will be eligible for a slice of €6 million in EU funding that has been given to Albania’s Union Bank to finance energy efficiency measures in the Balkan nation.

The European Bank for Reconstruction and Development (EBRD) has made the money available for the western Balkan branch of its Green Energy Financing Facility (GEFF) energy efficiency program.

A statement announcing the funding facility, published yesterday, listed solar panels as eligible for support, along with insulation, efficient boilers and “other green technologies”.

As part of the funding stream, Austria’s Federal Ministry of Finance will provide incentives and technical co-operation for green technology investment in Albania.

The funding package is part of the EBRD’s €85 million program for the western Balkans, which also has financial backing from bilateral donors and recipient nations in the region, under the Western Balkans Investment Framework.