German Ambassador Rohde and Minister of Economy Visited the Solar Park ProEnergy
Prishtina, 23.11.2022 - Ms. Eriola Bibolli, General Director, and Mr. Visar Paçarada, Management Board Member of the ProCredit Bank hosted a visit of the German Ambassador Mr. Joern Rohde, of Ms. Artane Rizvanolli, Minister of Economy, and Ms. Nora Hasani from the Kosovo-German Chamber of Commerce. This visit was organized at the solar park 3MW, which is currently at the last construction stage. It is located in Grackë e Vjetër village.
Through ProEnergy LLC (PP), this solar park is a German investment by ProCredit Holding, mother company of the ProCredit Bank, thus demonstrating it is oriented towards the sustainable economic development in the country and its commitment to reduce CO2, and to assist in the fight against global warming.
ProEnergy aims to apply for the “Gold Standard” certification for the project, thus quantifying the clean and green energy quantity that will be generated into the Kosovo grid. The expected reduction of the emissions from this solar park will amount to around 3,700 tCO2/annually. ProCredit Holding shall use the avoided CO2 emissions from this project to offset the CO2 emissions as a result of daily banking operations of the group’s banks. By reducing the CO2 emissions the project shall contribute towards the United Nations sustainable Development Goals SDG 13 (Climate Actions), whereas the generation of 3,943MWh/annually of clean energy shall contribute to SDG 7 (Affordable and Clean Energy.)
“Consumption of electricity is one of the key contributors to the emission of greenhouse gases. In our case, this contribution is linked to a certain extent with the daily bank operations but it is also linked with the source of the electric energy, which in the majority of countries where we operate is coal. Therefore, to further improve the environmental performance through the reduction of greenhouse gases (GHG) emission and to achieve the mid-term goal of becoming a carbon-neutral institution, the main shareholder of the ProCredit Group, the ProCredit Holding, has undertaken the initiative to invest in a solar project in Kosovo. The reason why Kosovo was selected for this investment is the fact that Kosovo has a ‘mix’ of the most polluted energy in Europe, and faces lack of energy supply, while experiencing the need for increased energy consumption. A logical step would be for Kosovo to accelerate the energy transition towards flexible and green sources. We consider that projects like this one, in a country where such initiatives are still quite rare, will set a positive example and will contribute to the overall development of the country,” said Ms. Eriola Bibolli, General Director of ProCredit Bank.
Ambassador Rohde stated among others that “Electric energy to be generated from this entirely German investment shall be supplied through the grid and shall be used for self-consumption for the ProCredit Bank in Kosovo and its partner companies. The surplus electric energy shall be sold to KESCO at a tariff we shall agree upon. This project demonstrates not only the dedication of the ProCredit Bank to reduce greenhouse gases emissions to help the fight against Global Warming, but it arrives at a time of global energy crisis; it is highly appreciated and is very necessary. The energy transition and decarbonization of the energy sector will unavoidably be a priority for our governments in a foreseeable future.”
“Our Government's vision is to have a clean energy sector but also a sector that is more democratic and decentralized, with consumers as active participants. The 3MW investment by ProCredit that we visited today is an excellent example of active participation, as well as corporate social responsibility” said Minister Rizvanolli
The solar park ProEnergy is planned to be finalized during December 2022. It is expected to have a lifetime of activities of some 30 years.
About ProCredit Bank SH.A Kosovo
ProCredit Bank SH.A. is a development-oriented commercial bank which engages in responsible banking activities. Part of this responsibility is acting in accordance with predefined social, ethical and environmental standards. It provides quality services for small and medium businesses as well as for private clients who prefer to bank efficiently through electronic channels. A responsible approach to environmental protection is an important part of ProCredit Bank’s social responsibility and a value embedded into its banking philosophy. For more information, visit www.procreditbank-kos.com
About ProCredit Holding AG & Co. KGaA
ProCredit Holding AG & Co. KGaA, based in Frankfurt am Main, Germany, is the parent company of the development-oriented ProCredit Group, which consists of commercial banks for small and medium enterprises (SMEs). In addition to its operational focus on South Eastern and Eastern Europe, the ProCredit Group is also active in South America and Germany. The company’s shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange. The anchor shareholders of ProCredit Holding AG & Co. KGaA include the strategic investors Zeitinger Invest and ProCredit Staff Invest (the investment vehicle for ProCredit staff), the Dutch DOEN Participaties BV, KfW Development Bank and IFC (part of the World Bank Group). As the group’s superordinated company according to the German Banking Act, ProCredit Holding AG & Co. KGaA is supervised on a consolidated level by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) and the German Bundesbank. For more information, visit: www.procredit-holding.com.