Energy & Renewables
Financing the energy transition
Energy projects must reconcile development stage, permits, offtake, grid access, construction risk and long-term cash flows.
Our role in the sector
Kosovo, Albania and North Macedonia are obligated under the EU Energy Community framework to decarbonise generation while replacing ageing coal capacity.
That creates a decade-long pipeline of solar, wind, storage and grid projects — most of which need structuring before they are financeable.
We act for sponsors and developers: assessing bankability, designing the capital stack, and arranging debt and equity from DFIs, IFIs, commercial banks and private credit funds through to financial close.
We may consider an investment only after the project and risks have been independently assessed.
Technical development, construction and operation remain with the responsible parties.
Where another group company is the operating specialist, ERAM Invest’s role remains limited to investment, financing, capital structuring, advisory and transaction support — operational execution stays with the relevant specialist.
Where we focus
We look at renewable generation, storage, energy efficiency and related infrastructure.
- Solar PV
- Utility-scale (5–50MW) projects across Kosovo, Albania and North Macedonia, plus C&I and agri-solar.
- Wind Energy
- Strong highland resources in Serbia and Kosovo, with maturing, bankable regulatory frameworks.
- Storage & Grid
- Battery storage, distributed energy and grid-related infrastructure supporting the transition.
- Energy Efficiency
- Industrial and commercial efficiency investments, often structured as ESCOs or performance contracts.
The full capital stack
- Senior Debt
- Banks, DFIs and IFIs — term, project and capex facilities.
- Private Credit
- Direct lending and structured credit where banks step back.
- Mezzanine
- Subordinated and quasi-equity bridging the funding gap.
- Equity
- Institutional, strategic and co-investment equity via SPVs.
Frequently Asked Questions
Frequently asked questions
What size of energy project do you finance?
We structure and arrange debt and equity for projects at or above our indicative minimum participation of €5 million. Utility-scale solar in the 5–50MW range is the most common profile in the region, alongside wind, storage and grid-related infrastructure.
Corporate & Project Finance →Link to this questionCan you finance a project that does not yet have permits?
We engage at a range of stages, including pre-permit. Earlier engagement is usually better — decisions taken at feasibility and permitting stage determine whether a project can be financed at all, and retrofitting bankability later is far more costly.
Investment Readiness →Link to this questionDo you work with DFIs and IFIs on energy projects?
Yes. Development and international financial institutions frequently provide senior debt, guarantees or concessional elements in regional energy transactions, and we coordinate the full capital stack including commercial and grant components.
For Investors →Link to this questionWhich countries do you cover for energy investment?
Kosovo, Albania, North Macedonia, Montenegro, Serbia and Bosnia and Herzegovina, plus selected Central and Eastern European markets. EU Energy Community obligations are driving a decade-long pipeline across all of them.
Strategy & Criteria →Link to this questionDo you invest your own capital in energy projects?
Yes, where there is strategic alignment and an acceptable risk-return profile — typically through project-level SPVs or co-investment alongside strategic partners.
Direct Investments →Link to this question
