EIB framework loan to finance hydro power plants (expected in the range of 25 - 75 MW) and solar PV plants in Bhutan. The European Investment Bank (EIB), the world's largest multilateral bank and leading global financier of renewable energy, signed its first-ever investment support for Bhutan today.
While hydropower provides a reliable source of growth, other renewable energy technologies, including solar photovoltaic, offer ways to diversify Bhutan's electricity mix and increase resilience to changing seasonal extreme weather patterns that can adversely affect hydropower supply.
The new projects, to be implemented by Druk Green Power Corporation, will contribute to climate action, helping Bhutan to strengthen its energy security and increase the use of renewable energy. The new EIB financing will support the installation of an estimated 310 MW of hydropower and solar power generation capacity.
The first-ever EIB project in Bhutan, one of just three net carbon-negative countries in the world, supports new solar photovoltaic and hydropower schemes under the EU's Global Gateway initiative. The 30-year loan for €150 million will unlock an estimated 310 MW of new renewable energy generation to serve communities in remote regions.
As Bhutan accelerates its transition to renewable energy, photovoltaic (PV) systems paired with energy storage are emerging as game-changers. This article explores how solar energy storage solutions
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The first-ever EIB project in Bhutan, one of just three net carbon-negative countries in the world, supports new solar photovoltaic and hydropower schemes under the EU''s Global Gateway
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