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.