EBRD and EU have allocated nearly €500,000 in grants to ten Ukrainian firms, aimed at fostering the development and implementation of innovative, climate-friendly technologies.
The value of the green technology market was $1.5 trillion in 2020 and is expected to reach over $9.5 trillion by 2030, according to a report by UNCTAD - the United Nations Trade and Development Agency. UNCTAD's Technology and Innovation Report 2023 warns that economic inequalities risk widening as developed countries reap the most benefits from green technologies such as artificial intelligence, the Internet of Things (IoT), and electric vehicles.
A significant portion of EU grants is allocated to support sustainable initiatives, further driving the rise in these types of loans.
Polish energy group Orlen announced that its subsidiary, Energa Operator, has secured a €1.8bn loan to modernize the power grid, preparing it for the integration of renewable energy sources.
OMV Petrom announced the commencement of construction for a production unit dedicated to sustainable aviation fuel (SAF) and renewable diesel (HVO) at the Petrobrazi refinery.
The European Investment Bank (EIB) is providing a €240 million loan to Slovakia for co-funding of EU-supported green and digital projects across the country.
In line with its 2030 ambition to decarbonize the hydrogen used in its European refineries, TotalEnergies has signed agreements with Air Liquide to develop two projects in the Netherlands.
