Croatia, Oct. 22 -- The European Bank for Reconstruction and Development (EBRD) is providing a direct equity investment of up to?€16.8?million in IE?Energy Projekt, a newly established joint?stock company developing a greenfield battery energy storage system (BESS) and virtual power plant (VPP) in Sibenik, Croatia.EBRD's investment is approved under the EBRD Direct Finance Framework non-SME. The Project also envisages an equivalent equity investment of €16.8 million by Raiffeisen Mandatory and Voluntary Pension Funds, a large Croatian Institutional Investor, as well as €16.5 million capex grant from the EU Modernisation Fund.The development will support the installation of up to 60 megawatts of grid-connected battery stora...