ProCredit Bank in Kosovo opens its photovoltaic park of 3 MW

Photovoltaic Park ProEnergy is the first photovoltaic park in Kosovo owned by a banking group. The project, whose cost has been around 2.5m euros, was implemented by Kosovo companies Jaha Solar and Electrica. Solar Park's Expected Annual Production 3 MWp is 3,711 MWh, which is equivalent to the expenses of about 450 households with average monthly electricity consumption by 700kWh, thus contributing to the energy transition in Kosovo. 90% of the electricity generated in Kosovo in 2022 came from the lyne thermal power plants, accompanied by identified greenhouse gas emissions and risks to health and environment.

The ProEnergy Project in Kosovo reflects the orientation of the ProCredit Group, aiming to contribute to the stabilisation and environmental transformation of the countries in which it operates. Beyond Kosovo, ProEnergy is the essential step for the ProCredit group itself towards achieving its climate goals. Since my vow in 2018 to become carbon neutral, the ProCredit group has managed almost to halve its emissions. The photovoltaic park, which was inaugurated in Kosovo, is in the process of certified in line with the Gold Standard and the pure energy it produces, will evidently help avoid emissions on the road to defuelisation.

Hubert Spektenhower, ProCredit Manager Board Chairman General Partner AG, who gave a speech on the opening event, comments: ” as a development-oriented banking group, we in ProCredit are in a unique position to contribute to the energy transition. Our Investment in photovoltaic Park ProEnergy in Kosovo clearly highlights the seriousness of our approach. As the ProCredit Group, we welcome the promotion of climate protection as well as advise and support our clients on their transition plans by contributing to advancing the goals of the Paris Agreement for climate change”

Meanwhile, Visar Pacharada, a member of the ProCredit Bank management board in Kosovo during its speech, stressed: “As a commercial development-oriented bank, we are aware of the responsibility we have to contribute to the welfare of the community and the environment where we act. Photovoltaic Park 3 MW ProEnergy illustrates our commitment to turning words into works and becoming a catalyst for change in our society. We hope that this investment will serve as an example and inspiration for other institutions towards similar investments”.

Present at the event was and Eriola BiballA member of ProCredit ProCredit Board Manager General Partner AG and a member of the ProCredit Bank Board of Directors in Kosovo, which added: “The inauguration of ProEnergy is a day of particular importance for the ProCredit Group, since this is the first park of this type owned by a banking group in Kosovo. Today we are not opening only a park with solar panels, today we are opening a clean and bright future for Kosovo. This project is a testament to what we can accomplish when we have a clear vision of a cleaner future. In view of the dominance of coal power plants in Kosovo, I hope our investment will inspire further positive changes in the country's energy sector “.

Word of honor also had Germany's ambassador to Kosovo, Jörn RohdeWho appreciated the job done. Your “contribution is important, because it symbolizes the importance of the private sector to be in the front row in combating climate change, because most investments must come from the private sector. Let this German investment be an example of how private companies should work towards sustainable development. ”

Kerry Monaghan-Hogler U mission director's task fraud AID in Kosovo also congratulate the ProCredit Group on achieving by stressing the importance of such projects, which serve as a reminder that Kosovo has started its way towards defuelisation.

By the end of March 2023, green loans made up 20.2% of the ProCredit Group's credit portfolio. This represents a total of 1.2 billion euros in loans destined for investments in energy efficiency, renewable energy or other green investments.

A third of these loans provided go towards renewable energy projects. By 31 March 2023, about 370 million euros have served to finance 1,370 photovoltaic investments. About 1,000 of these photovoltaic investments represent installations by small and medium-sized companies or individuals, while the rest are part of the project funding initiatives.

Green credits remain the focus of the ProCredit Bank and the group. The current percentage of these loans in the total portfolio is expected to increase to 25% in the medium term.

More detailed information on the resistance strategy and ProCrede Group's Influence Report can be found on the website https://www.procreditbank-ko.com/shresh/nesh/ethika-e-businessit/

For additional details about the photovoltaic park ProEnergy visit website: https://www.procreditbank-direct.com/kosovo/xv/landing/ProEnergy