December 18 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it has approved a direct equity investment of up to 16.8 million euro ($17.6 million) in favour of IE-Energy Projekt, a joint stock company to be set up in Croatia for the greenfield development of an up to 60 MW battery energy storage system (BESS) and Virtual Power Plant (VPP) in Sibenik.