First GGF Corporate Investment in Albania: €15 Million for VEGA Energy

VEGA Energy is proud to announce that the Green for Growth Fund (GGF) has committed a €15 million senior loan facility to VEGA Energy, marking GGF’s first corporate investment in Albania and its first direct partnership with an EPC contractor.

The financing will support the development of utility-scale solar projects across Albania, Kosovo, and North Macedonia, helping unlock a regional renewable energy pipeline exceeding €130 million and more than 400 MWp of capacity.

This partnership represents an important milestone for VEGA Energy and reflects the growing confidence of international financial institutions in the renewable energy potential of the Western Balkans. The facility will support the company’s continued growth and strengthen its ability to deliver large-scale solar projects across the region.

As highlighted by Bruno Papaj, CEO of Vega Group, the partnership represents an important milestone not only for VEGA Energy, but also for the development of large-scale renewable energy infrastructure across the Western Balkans. While VEGA Energy today operates across multiple European markets, the financing facility is specifically dedicated to supporting renewable energy projects in the region, strengthening the company’s ability to accelerate project execution, expand clean energy infrastructure, and continue investing in local engineering and operational capacity.

Commenting on the partnership, Simon Gupta, Chairperson of the GGF Board, highlighted GGF’s commitment to supporting strong local players that can accelerate the delivery of renewable energy infrastructure, strengthen energy independence, and promote sustainable economic growth throughout the Western Balkans.

For VEGA Energy, the transaction reinforces the company’s long-term commitment to advancing renewable energy infrastructure and supporting the transition toward a more sustainable and resilient energy future. With a growing regional presence and an expanding project pipeline, VEGA Energy continues to invest in the expertise, technology, and operational capacity required to deliver renewable energy projects at international standards.

We thank GGF, Finance in Motion, and all partners involved for their trust and cooperation, and we look forward to creating long-term impact together.

 

Read the full announcement published by GGF:

https://ggf.lu/insights/media/ggf-supports-vega-energy-accelerate-solar-rollout-western-balkans