Activists Push Banks to Abandon Balkan Rivers Hydropower Projects
Environmental groups are urging international and private banks to pull out of financing hydropower projects on Balkan rivers, aiming to safeguard Europe's last wild natural heritage. Communities along these rivers are voicing concerns about the construction of dams, which threaten their habitats and drinking water sources.
The Balkan Peninsula, rich in untapped renewable energy resources like solar, wind, and geothermal, as well as vast forests, is attracting investors, both regional and foreign. Subsidies for renewable energy generation in the Balkans are proving enticing. However, the rush to exploit these resources has led to a boom in dam construction, with approximately 2,800 hydroelectric power plants planned, many in protected national parks.
The European Bank for Reconstruction and Development (EBRD) has invested 240 million euros in 51 hydropower plants in the western Balkans. Yet, under pressure from environmental campaigns, the EBRD has halted investments in new hydropower projects in the region. International NGOs like River Watch and EcoNatur, along with companies such as Patagonia, are leading campaigns to protect Europe's last wild rivers.
The global transition to clean energy is reshaping markets, social structures, and laws beyond the traditional energy sector. While the Balkans offer abundant renewable energy resources, the focus should shift towards sustainable and less environmentally damaging energy plants. With over 2,800 hydroelectric power plants planned, the need for responsible investment and preservation of the region's unique natural heritage is pressing.
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