An EIB loan to VGP Renewable Energy N.V. will support the company’s rollout of rooftop solar panel installations across a portfolio of industrial buildings in Europe The project will enable VGP to provide its tenants with 100% renewable energy, strengthen EU energy security and accelerate the energy transition The European Investment Bank (EIB) and VGP Renewable Energy N.V. signed a €150 million framework loan that will support solar panel installation on the roofs of VGP’s logistics centres across the European Union. The ten-year loan will contribute to accelerating the energy transition, strengthen the security of power supply and boost climate action. It is part of the EIB’s dedicated contribution to REPowerEU, the plan designed to end Europe’s dependence on fossil-fuel imports. It will also reduce the carbon footprint of VGP and its clients. VGP Renewable Energy N.V. is a wholly owned subsidiary of VGP, a listed pan-European real estate business specialised in the acquisition, development and management of warehouses and semi-industrial buildings. The company is implementing an ambitious initiative to expand its renewable energy production within its real estate portfolio across 14 EU countries. The focus of this programme is the installation of rooftop solar photovoltaic systems. The newly installed photovoltaics will generate up to 190 GWh in renewable electricity per year, enough to cover the consumption of 110 000 Europeans. A significant part of the electricity will be used onsite, improving the viability of the project. The installation is planned on existing roof areas, meaning the project will not require additional land. Furthermore, it will increase the value of the buildings through new business use. “There is large untapped potential for renewable energy on the roofs of warehouses and other industrial buildings,” said EIB Vice-President Thomas Östros, who is responsible for energy-related operations. “With loans like that to VGP Renewable Energy N.V., we can help save scarce agricultural land and natural spaces while increasing renewable energy production. More renewables will help Europe to break away from fossil fuels and lower its dependency on energy imports. Ultimately, this will not only be a win for the climate, but also bring down electricity prices, which is in everybody’s interest.” Jan Van Geet, CEO of VGP, commented: “We are delighted about the collaboration with the European Investment Bank, which reflects the key role of buildings in enabling the green and efficient electrification in Europe’s energy transition. This is another important recognition of VGP's efforts to enable the transformation to a low carbon society.” *** VGP Renewable Energy N.V. was set up by VGP N.V., a European provider of logistics and semi-industrial real estate, in 2020. Its purpose is to enable the green energy transition of VGP Group and assist its clients in making their businesses more sustainable in a cost-effective way. The imminent target is to expand the roll-out of photovoltaic (PV) installations on the roofs of VGP Parks – by investing and operating such PV systems directly as owner, in cooperation with the company’s tenants. Ultimately the goal of VGP Renewable Energy is to capitalise, not only on the available roof space on VGP Parks but on the most current energy technologies available across the entire spectrum of renewable energy production and storage. About VGP: VGP is a pan-European owner, manager and developer of high-quality logistics and semi-industrial properties as well as a provider of renewable energy solutions. VGP has a fully integrated business model with extensive expertise and many years of experience along the entire value chain. VGP was founded in 1998 as a family-owned Belgian property developer in the Czech Republic and today operates with around 371 full-time employees in 17 European countries directly and through several 50:50 joint ventures. In June 2023, the gross asset value of VGP, including the 100% joint ventures, amounted to € 6.76 billion and the company had a net asset value (EPRA NTA) of € 2.2 billion. VGP is listed on Euronext Brussels (ISIN: BE0003878957). The EIB is the European Union’s long-term lending institution, owned by its Member States. We finance sound investments that contribute to EU policy goals, including social and territorial cohesion, and the just transition to climate neutrality. The EIB was the first multilateral development bank to end support for fossil fuels and has committed to supporting €1 trillion in climate investment this decade. Over half of the EIB Group’s lending in 2022 was devoted to climate and environmental sustainability projects, while almost half of the EIB’s financing inside the European Union was signed for projects in cohesion regions, where per capita income is lower, highlighting the Bank’s commitment to equitable growth. In July 2023, the EIB Board of Directors decided to raise the additional funds earmarked for projects aligned with REPowerEU, the plan designed to end Europe’s dependence on fossil-fuel imports, to €45 billion. The additional funding comes on top of the EIB’s already substantial support for clean investments and represents a 50% increase compared to the original €30 billion package announced in October 2022.
Two Romanians were arrested during Sunday night, May 11, after robbing empty houses in the evacuated mountain village of Brienz located in the Swiss canton of Graubünden. The village had been evacuated since November due to rock falls. The locality was, however, monitored by the authorities to prevent break-ins. The would-be thieves apparently tried to […]
The European Bank for Reconstruction and Development, or EBRD, has revised its estimates regarding the evolution of the Romanian economy in 2025 downward to 1.6%. The bank expects Romania’s GDP to grow 0.2% less than the 1.8% estimate made in February, and to increase by 2.4% in 2026. Romania's GDP growth slowed to 0.8% in […]
During a meeting on Monday, May 12, the Cluj-Napoca Local Council approved a draft resolution that imposes smoking restrictions in several public spaces in the city, including public transport stations, parks, and sports facilities. The resolution was adopted with 22 votes in favor and 3 abstentions, and will come into effect 90 days from the […]
An internal survey by Romanian Business Leaders, which does not have national representativeness but was answered by 417 entrepreneurs, shows that 62% of entrepreneurs expect to have to make layoffs, while a third expect the number of employees to remain the same. The expected layoffs are directly connected to the possibility of Romania choosing a […]
Romanian Istvan Kovacs will be the main referee for the UEFA Champions League final between Paris St-Germain and Inter Milan, which will be played on May 31 in Munich. The match will be Kovacs’ third European final in the last 4 years. The 40-year-old referee has previously officiated the UEFA Europa Conference League final in […]
Over 70 museums across Romania will open their doors after hours for the 21st edition of Night of Museums, one of the country's most anticipated cultural events. Held on the night of May 17, the event offers visitors a unique opportunity to explore exhibitions, installations, and creative activities in an unconventional, late-night setting. From major […]
