Central and Eastern Europe Accelerates Renewable Energy Initiatives in Early 2025

The European Commission’s Affordable Energy Action Plan aims to reduce the EU’s fossil fuel import bill by €45 billion in 2025, primarily through accelerated renewable energy expansion and enhanced energy efficiency. 

The European Union has allocated €2.7 billion to support 39 clean energy investment projects across eight Central and Eastern European countries, bolstering the region’s transition to renewable energy.

The International Finance Corporation (IFC) has invested up to €100 million in a bond issued by Kommunalkredit Austria AG to finance sustainable infrastructure projects in Bulgaria, Poland, and Romania. 

Lithuanian energy company Ignitis plans to invest €700 million in solar and wind projects in Latvia, including three solar farms in Kuldīga and Bauksa.