Tirana, 14 October 2025 – The Green for Growth Fund (GGF), supported by the European Union’s €20 million investment to accelerate climate action in Southeast Europe, is advancing a new wave of renewable energy and storage projects across the Western Balkans.
The Fund has signed a Mandate Letter with Renalfa IPP for a 200 MWh battery energy storage system at the Oslomej solar complex in North Macedonia, part of the Western Balkans Investment Framework’s priority pipeline.
In Kosovo, GGF agreed on a Term Sheet with Quant Renewables for up to €12 million in preferred equity for the 142 MWp Tucep–Veriq solar project, transforming former lignite sites into clean power generation.
In Albania, the Fund signed a Letter of Intent with HD Solar Park sh.p.k for up to €30 million to finance one of the country’s first large-scale solar-plus-storage projects.
These initiatives expand renewable generation, enhance grid flexibility, and strengthen energy security, supporting the region’s transition away from coal and toward a low-carbon future.
Through these investments, the GGF is pioneering green infrastructure that combines renewable energy with battery storage, advancing the goals of the European Green Deal and enabling a more resilient energy system for the Western Balkans.
About the GGF
The Green for Growth Fund promotes energy efficiency and renewable energy in Southeast Europe, the Caucasus, the Middle East, and North Africa. By providing refinancing to local financial institutions, GGF helps businesses and households access sustainable energy solutions, fostering energy efficiency and reducing carbon emissions. GGF was initiated as a public-private partnership by the European Investment Bank and Germany’s KfW Development Bank, with financial support from the European Union, BMZ, and other international investors. Finance in Motion GmbH, Germany, serves as GGF’s advisor. www.ggf.lu
About Finance in Motion
Finance in Motion structures, manages, and advises almost €4 billion across 9 funds, all classified as Article 9. These private market funds drive impact for people and planet through regional financial intermediaries, direct investments, advisory and capacity building. Founded in Germany, with local expertise from Latin America to CEE, it has been investing in emerging markets for over 20 years. www.finance-in-motion.com
Media contact GGF
Nusha Westhoff
Director Marketing & Communications
Mobile: +49 69 271 035-789
Email: press@ggf.lu