EBRD grants €4 million loan to Montenegro’s Voli, leading food retail chain, for green energy investment

The European Bank for Reconstruction and Development (EBRD) signed a €4 million loan agreement with Voli, Montenegro’s largest food retail chain, in the capital city of Podgorica.

The funds will be utilized by the company to acquire and install solar panels with a capacity of up to 4 megawatts, along with electric vehicle (EV) charging stations at their facilities and logistics center.

Miljan Zdrale, the EBRD regional head of agribusiness in southeastern Europe, expressed satisfaction with the EBRD’s ongoing collaboration with Voli in this environmentally friendly investment.

The project aims to enhance the company’s energy efficiency amidst the volatile energy market, minimize its carbon footprint, and enhance its overall competitiveness, Zdrale added.

According to the statement, these upgrades will safeguard Voli against potential future energy price fluctuations while enabling substantial reductions in carbon dioxide emissions. Additionally, the presence of on-site EV charging stations is expected to make the retail chain more appealing to customers and tourists.

Established in 1995, Voli is Montenegro’s leading retailer and the largest employer in the country, employing approximately 2,400 individuals. The company has been working in partnership with the EBRD since 2009, with the bank becoming a minority equity investor in 2015.

Voli’s president, Dragan Bokan, stated in the release that the company plans to undertake more energy-efficient projects in the years to come. Bokan emphasized their commitment to the community and highlighted how their investment in solar panel construction will contribute to pollution reduction and environmental protection by minimizing carbon dioxide emissions.

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