Rezolv Energizes Romania’s largest wind farm at 192MW, €331m phase 2
Rezolv Energy, backed by Actis and Mubadala, has energized the 192-megawatt (MW) first phase of ...
EBRD backs greening Bulgarian copper production with €55m
The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to €55 million to Bulgarian copper producer Asarel Medet AD to modernise and decarbonise its mining operations.
Mine modernization:
The financing will support sustaining and exploration capital expenditure at Asarel Medet’s open-pit copper mine in Panagyurishte, as well as investments in captive renewable energy generation.
The investments are expected to improve operational efficiency and reduce emissions associated with electricity consumption.
Green transition:
Around 68% of the EBRD financing will qualify as green finance, supporting Bulgaria’s transition toward a lower-carbon economy and the development of copper production, a critical raw material for electrification, renewable energy infrastructure and e-mobility.
The project will also support improvements in Asarel Medet’s corporate governance, including strengthening its compliance policies and procedures.
“This project demonstrates how targeted financing can support the sustainable development of critical raw material supply in Europe,” said Jacqui Powell, EBRD Managing Director for the Corporate Sector.
“By combining operational improvements with renewable energy integration, Asarel Medet is advancing both competitiveness and alignment with the green transition,” she added.
European copper supply:
Asarel Medet operates a copper mine in Bulgaria and produces copper concentrate for European markets. The company has been modernising its operations through investments in renewable power integration, resource efficiency and environmental and social management systems.
Dimitar Tsotsorkov, Chairman of the Supervisory Board at Asarel Medet, said the company would deepen its cooperation with the EBRD under a comprehensive environmental, health and safety, and social action plan aligned with international standards.
The EBRD has invested nearly €5.2 billion in 324 projects in Bulgaria to date.
Leave a comment