April 20, 2026
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Albania’s Day-Ahead Power Market Is Operational, but Still Not Mature Enough for CfD Support

Albania’s electricity market is making measurable progress, but it is not yet ready to serve as the reference price for modern renewable support mechanisms. That is the central conclusion of ERE’s first assessment of the ALPEX day-ahead market (DAM), which evaluates whether the market is sufficiently liquid and competitive to underpin the future conversion of renewable PPAs into contracts for difference (CfDs). Under Albania’s renewable energy law, ERE is required to carry out such periodic assessments, and it approved the market-readiness methodology in November 2025.

The report’s logic is straightforward: a day-ahead market can only act as a reliable CfD benchmark if it produces a frequent, stable, and credible price signal. To test that, ERE examined price availability, churn, bid-ask spreads, market depth, competition, and the effect of Albania’s coupling with Kosovo. It also benchmarked ALPEX against selected EU markets at the stage when those countries first introduced CfDs, choosing Poland, Hungary, and Croatia as comparators. This approach places Albania in a relevant policy context rather than comparing it with the most mature European exchanges.

The assessment does contain important signs of institutional progress. ALPEX generated a market-clearing price in every hour of the 12-month review period, from 1 November 2024 to 31 October 2025, which satisfies ERE’s criterion for continuous price availability over at least 10 months. The market also appears to be functioning as a shared Albanian-Kosovar trading platform, with coupled prices in more than 99% of hours. In policy terms, that is a meaningful achievement: the market is operational, regional, and capable of producing a continuous price signal.

Yet the core liquidity indicators show that ALPEX remains materially underdeveloped relative to the comparison markets. The churn factor is only 0.102, below HUPX, CROPEX, and TGE, indicating that the ratio of traded volume to total consumption is still weak. The bid-ask spread is also wide: the median is 9.7% of the average market-clearing price, the mean is 17.4%, and the 75th percentile reaches 19.2%. By contrast, the report shows that HUPX had a median spread of just 1.2% and a mean of 3.7%. These figures point to a market that can clear prices, but still struggles to do so efficiently and consistently.

Market depth provides the same message in a different form. ERE finds that in 25% of hours, ALPEX would not have been able to absorb more than about 146 MW of new zero-marginal-cost supply while still maintaining a positive clearing price. That is a critical limitation for a power system that is expected to integrate more renewable generation, especially as photovoltaic capacity continues to expand. In practical terms, the report suggests that the market may face stress at times of low demand or high renewable output, when additional capacity needs a deeper and more resilient trading environment.

Competition is stronger than the liquidity indicators alone might suggest. ERE reports 32 sellers and 33 buyers, with an HHI of 853 on the sell side and 1,220 on the buy side. It interprets this as a competitive sell-side structure and a moderately concentrated buy side. That is an important distinction: the market has participants, but participation has not yet translated into the degree of depth and turnover required for a robust reference price.

The broader policy conclusion is therefore cautious but clear. ALPEX is moving in the right direction, but it is not yet sufficiently liquid to support the transition to CfD-based renewable support. ERE explicitly concludes that the ALPEX DAM is not yet ready to be used as the reference price for support contracts in Albania. At the same time, the report treats this not as a failure, but as a transitional stage: the market has a continuous price signal, a reasonable participant base, and a functioning regional coupling, which are all necessary foundations for future readiness. ERE is expected to continue periodic assessments as the market deepens and matures.

In strategic terms, the report captures Albania’s power-market transition at an important midpoint. The system is no longer at the stage of market creation, but it has not yet reached the level of liquidity, depth, and price stability that would allow it to anchor modern renewable support instruments. For policymakers, the message is that market coupling and institutional setup are advancing faster than commercial liquidity. For investors, especially in renewables, the implication is equally clear: Albania’s market architecture is improving, but the price environment is still not mature enough to be treated as a fully reliable CfD benchmark.

February 18, 2026
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Scatec Secures €121M Financing to Build 189.7 MW Solar Portfolio in Romania

The Scatec has reached financial close for a 189.7 MW photovoltaic portfolio in Romania, enabling the company to commence construction on the three-site project. Most of the planned capacity—in which Defic Globe is a minority shareholder—is covered by contracts-for-difference (CfDs).

A financing package led by the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and Banca Comercială Română (BCR) — part of the Erste Group — underpins the development of the Romanian solar portfolio. Equinor, the Norwegian energy company, is the largest shareholder in Scatec. Total capital expenditure for the portfolio is EUR 121 million, to be financed through a mix of non-recourse project debt and equity with roughly 70% leverage.

EBRD and the EIB each allocated EUR 34 million to the financing, while BCR committed EUR 17.3 million in long-term lending alongside other financing components. Scatec said it will procure key components representing about 35% of total capex and will assume responsibility for operations, maintenance and asset management. The company reported a target commercial-operation date in the second half of 2027.

“Reaching financial close and starting construction of our first projects in Romania confirms the market’s attractiveness and the strength of the CfD framework,” said Terje Pilskog. “With long-term revenue visibility and a robust financing structure, the projects are well positioned for construction and delivery. We look forward to advancing them with our partner Defic Globe and contributing to Romania’s energy transition.”

Scatec secured 15-year CfD contracts covering 70% of production for two of the three projects under the country’s first auction for such contracts; the remaining output will be sold in the wholesale market. The sites are located in southern Romania: one in the commune of Dobrun commune, Olt County, Romania and another in the commune of Sadova commune, Dolj County, Romania. CfD-backed capacity totals 127.8 MW, with a further 61.9 MW planned to operate under full merchant exposure, according to the EBRD.

Defic Globe — a joint venture owned by YEO Technology (51%) and Emsolt Investments — holds a 35% stake in the portfolio and has been appointed to deliver turnkey engineering, procurement and construction (EPC) services. The project companies are registered as Solar World, RB Solar Energy and Energie Soleil.

Listed on the Oslo Stock Exchange, Scatec now has 6.2 GW of capacity in operation and under construction across five continents.

January 28, 2026
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North Seas region signs landmark offshore wind deal

Seven heads of state and government and energy ministers of nine countries gathered in Hamburg today to boost the expansion of offshore wind. Together with industry and transmission system operators, the countries launched the Offshore Wind Investment Pact for the North Seas. They envisage cross-border projects totaling 100 GW.

Nine European countries committed to building 15 GW of offshore wind per year over 2031-2040 and derisking offshore wind investments. The industry, in return, pledged cost reductions, 91,000 additional jobs and EUR 1 trillion of economic activity.

Europe is charting the massive offshore wind buildout it needs to deliver on its energy security and competitiveness objectives, WindEurope said.

At the North Sea Summit in Hamburg today, Belgium, Denmark, France, Germany, Ireland, Luxembourg, the Netherlands, Norway and the United Kingdom confirmed their ambition to build 300 GW of offshore wind in the so-called North Seas by 2050.

Over one hundred companies participate in offshore wind pact

Governments, the wind industry and transmission system operators (TSOs) signed the Offshore Wind Investment Pact for the North Seas. The agreement is underpinned by separate declarations of the heads of state, energy ministers and the industry. The last of the three is an undertaking by more than 100 offshore wind companies across the value chain, the update adds.

Offshore wind has been a European success story with 37 GW installed across 13 countries, WindEurope stressed.

“That’s more than 6,000 turbines providing homegrown, clean and competitive electricity at scale. But deployment has been dragged by suboptimal auction design, increased costs of capital and lack of visibility for the supply chain due to an uncertain project pipeline,” the organization pointed out.

Two-sided CfDs to be auction standard

In the Investment Pact, governments pledge to provide planning and investment security and derisk offshore wind projects. It involves two-sided contracts for difference (CfDs) as the standard for offshore wind auction design, for visibility on revenue. The countries agreed to remove any regulatory obstacles to power purchase agreements (PPAs) – direct agreements between electricity producers and corporate end-consumers.

A steady pipeline of offshore wind projects will bring the needed confidence to invest in new capacity for manufacturing, ports infrastructure and vessels, according to WindEurope.

In return, Europe’s offshore wind industry pledges to drive down costs of offshore wind by 30% towards 2040 against the 2025 levels. The cost reduction would be driven by scale effects, lower costs of capital and further industrialization underpinned by clarity and visibility on the project pipeline.

The industry vowed to create lasting value for the economy, communities and consumers. It also said it would invest EUR 9.5 billion in the value chain including manufacturing, port infrastructure and vessels.

The TSOs intend to identify cost-effective cooperation opportunities and 20 GW of economically promising cross-border endeavors by 2027 for deployment in the 2030s. It includes offshore projects with interconnections to more than one country. The operators are about to develop cost-sharing principles.

The new partnership will secure 100 GW of joint offshore wind projects, Britain said.

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January 16, 2026
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Montenegro to renew first solar power auction call as soon as possible

After rejecting all bids within its first auction for market premiums for solar power projects, the Ministry of Energy and Mining of Montenegro vowed to tackle the shortcomings in the conditions for participation and renew the public call as soon as possible. The country intends to hold the competitive bidding process by the end of the first quarter, followed by a wind power auction in the third quarter.

Montenegro’s Ministry of Energy and Mining declined, in mid-December, all four bids in the country’s first solar power auction, for a quota of 250 MW. A report that the government adopted three weeks ago revealed that 11 entities have expressed interest by purchasing the tender documentation.

The failures in fulfilling the conditions included submitting documents that were too old and not meeting the requirements for spatial planning and grid connections, the ministry said. On the other hand, it acknowledged shortcomings regarding the auction qualification terms, vowing to tackle them and issue another call as soon as possible.

Namely, the main obligatory documents can’t be older than the public call itself. They are the urban planning and technical conditions, which the government issues, and the grid connection contract, but they are signed only once, becoming acquired legal rights.

Winners can sign 12-year CfDs

The call to auction was published in July. Under Montenegro’s legal framework, auction participants compete for market premiums in the form of 12-year contracts for difference (CfDs) for their projects.

The beneficiary has a guaranteed price, approved through the auction. When the firm sells electricity in the market at a higher price, it must return the difference. And vice versa: when the beneficiary gets less per megawatt-hour than the contract price, it is reimbursed.

Eligible projects don’t or didn’t benefit from government incentives. They can participate if construction works haven’t begun and the developers haven’t secured financing for their completion.

The lowest bids win, and the maximum allowed price was EUR 65 per MWh.

First successful projects from auctions seen for completion in 2028

Per the official plan, the solar power auction needs to be held in the first quarter of this year, followed by a wind power round, for 200 MW. Minister Admir Šahmanović earlier said that he expected the power plants to come online from 2028 to 2030.

Conducting renewable electricity auctions is one of the commitments toward the European Union that were defined by the Reform Agenda of Montenegro 2024-2027. It contains the conditions for the approval of up to EUR 383 million from the Growth Plan for the Western Balkans and the Reform and Growth Facility (RGF).

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January 15, 2026
by in News

Montenegro to renew first solar power auction call as soon as possible

After rejecting all bids within its first auction for market premiums for solar power projects, the Ministry of Energy and Mining of Montenegro vowed to tackle the shortcomings in the conditions for participation and renew the public call as soon as possible. The country intends to hold the competitive bidding process by the end of the first quarter, followed by a wind power auction in the third quarter.

Montenegro’s Ministry of Energy and Mining declined, in mid-December, all four bids in the country’s first solar power auction, for a quota of 250 MW. A report that the government adopted three weeks ago revealed that 11 entities have expressed interest by purchasing the tender documentation.

The failures in fulfilling the conditions included submitting documents that were too old and not meeting the requirements for spatial planning and grid connections, the ministry said. On the other hand, it acknowledged shortcomings regarding the auction qualification terms, vowing to tackle them and issue another call as soon as possible.

Namely, the main obligatory documents can’t be older than the public call itself. They are the urban planning and technical conditions, which the government issues, and the grid connection contract, but they are signed only once, becoming acquired legal rights.

Winners can sign 12-year CfDs

The call to auction was published in July. Under Montenegro’s legal framework, auction participants compete for market premiums in the form of 12-year contracts for difference (CfDs) for their projects.

The beneficiary has a guaranteed price, approved through the auction. When the firm sells electricity in the market at a higher price, it must return the difference. And vice versa: when the beneficiary gets less per megawatt-hour than the contract price, it is reimbursed.

Eligible projects don’t or didn’t benefit from government incentives. They can participate if construction works haven’t begun and the developers haven’t secured financing for their completion.

The lowest bids win, and the maximum allowed price was EUR 65 per MWh.

First successful projects from auctions seen for completion in 2028

Per the official plan, the solar power auction needs to be held in the first quarter of this year, followed by a wind power round, for 200 MW. Minister Admir Šahmanović earlier said that he expected the power plants to come online from 2028 to 2030.

Conducting renewable electricity auctions is one of the commitments toward the European Union that were defined by the Reform Agenda of Montenegro 2024-2027. It contains the conditions for the approval of up to EUR 383 million from the Growth Plan for the Western Balkans and the Reform and Growth Facility (RGF).

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January 9, 2026
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New auction announced in Greece for 600 MW for electricity for vulnerable households

The Greek government specified terms and conditions for participation in a new kind of renewable energy auction, covering both wind and solar energy.

The auction comes as part of the Apollo initiative, aimed at reducing energy costs for vulnerable households across the country and fighting energy poverty. In total, 200 MW of solar plus batteries and 400 MW of wind will be auctioned.

Wind power projects of at least 60 kW may participate, with no limit set for photovoltaics. All applicants must have final connection terms from the distribution or transmission operator. Their remuneration will be based on a contract for difference (CfD). Investors can also gain a grant from European Union programs, the National Development Plan or other sources, according to the decree.

This will be a single-step static auction, with the offer price ceiling set at EUR 80 per MWh for wind projects and EUR 75 per MWh for photovoltaics with battery storage.

Equally important, the competition level is 40%, meaning that 60% of the offered capacity will be awarded up to a maximum of 600 MW. On top of that, at least three projects from different investors must participate in the process. Furthermore, no participant can apply for more than 25% of the total offered capacity, to ensure a level playing field.

Steep timeframe for selected projects

Concerning next steps, the Regulatory Authority for Energy, Waste and Water (RAEWW or RAAEY) is expected to officially proclaim the auction in the next few weeks, before the end of January. The regulator will also specify the letter of guarantee investors will have to submit, as well as the rest of the details. The submission of offers is expected to last by the end of February.

The ministry said the construction of solar farms with batteries must be completed by the end of 2027, while wind farms need to come online by September 2028.

Consumers who will benefit from cheaper renewable electricity will be notified via their power suppliers about their eligibility.

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January 9, 2026
by in News

New auction announced in Greece for 600 MW for electricity for vulnerable households

The Greek government specified terms and conditions for participation in a new kind of renewable energy auction, covering both wind and solar energy.

The auction comes as part of the Apollo initiative, aimed at reducing energy costs for vulnerable households across the country and fighting energy poverty. In total, 200 MW of solar plus batteries and 400 MW of wind will be auctioned.

Wind power projects of at least 60 kW may participate, with no limit set for photovoltaics. All applicants must have final connection terms from the distribution or transmission operator. Their remuneration will be based on a contract for difference (CfD). Investors can also gain a grant from European Union programs, the National Development Plan or other sources, according to the decree.

This will be a single-step static auction, with the offer price ceiling set at EUR 80 per MWh for wind projects and EUR 75 per MWh for photovoltaics with battery storage.

Equally important, the competition level is 40%, meaning that 60% of the offered capacity will be awarded up to a maximum of 600 MW. On top of that, at least three projects from different investors must participate in the process. Furthermore, no participant can apply for more than 25% of the total offered capacity, to ensure a level playing field.

Steep timeframe for selected projects

Concerning next steps, the Regulatory Authority for Energy, Waste and Water (RAEWW or RAAEY) is expected to officially proclaim the auction in the next few weeks, before the end of January. The regulator will also specify the letter of guarantee investors will have to submit, as well as the rest of the details. The submission of offers is expected to last by the end of February.

The ministry said the construction of solar farms with batteries must be completed by the end of 2027, while wind farms need to come online by September 2028.

Consumers who will benefit from cheaper renewable electricity will be notified via their power suppliers about their eligibility.

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December 19, 2025
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Nofar Energy launches work on Romania’s largest solar park

Israel’s Nofar Energy has begun construction of the 282 MW Corbii Mari solar park in Romania, with plans to connect it to the grid next year. The project is being financed from a recently secured EUR 192 million financing package that also covers the company’s two other large solar facilities in Romania.

The financing for Nofar’s projects was arranged by the European Bank for Reconstruction and Development (EBRD). The bank is providing a EUR 64 million loan, with the remaining EUR 128 million mobilized from commercial lenders.

In addition to Corbii Mari, the financial package covers the Iepurești II and Slobozia solar parks. The total capacity of all three projects is 531 MW, and the planned annual electricity production is 676 GWh.

Two solar parks are zero-subsidy projects, while the third has secured a contract for difference

Corbii Mari and Iepurești II will sell electricity on Romania’s competitive day-ahead market, while Slobozia will benefit from a 15-year contract for difference (CfD), according to an EBRD press release.

In late 2023, when Nofar acquired the Corbii Mari project, it was announced that the solar power plant would produce 362 GWh of electricity a year, enough to meet the needs of around 160,000 households.

There are several solar projects in Romania larger than Corbii Mari in various stage of development. These include the 1 GW Dama Solar, developed by Czech company Rezolv Energy, and the 300 MW Butimanu project, implemented by the investment division of Sweden-based Ingka Holding, the largest IKEA franchisee company.

Austria-based Enery is preparing to begin construction works early next year on a photovoltaic facility of 750 MW in peak capacity just outside of Bucharest.

Corbii Mari is set to be Romania’s biggest solar park to date

Given the longer completion timelines for these projects, Corbii Mari is expected to be Romania’s largest solar park for a time, local media reported. The top spot is currently held by Econergy’s Rătești solar power plant, with an installed capacity of 155 MW.

Nofar is also building its Ghimpați solar project near Bucharest, with an installed capacity of 146 MW. Earlier this year, the Israeli company said it had connected to the grid its solar park in Ada, the largest such system in neighboring Serbia.

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December 19, 2025
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Engie Romania to double its renewables capacity with 253.1 MW wind farm project

Engie Romania, a subsidiary of French energy giant Engie, has bought a 253.1 MW wind farm project in Ialomiţa County. The wind farm, currently under construction, will double the company’s renewable energy portfolio in Romania to over 500 MW.

The Ialomiţa Nord wind farm project was acquired from the Romanian subsidiary of Portugal-based Greenvolt, owned by US investment fund KKR. The value of the transaction was not disclosed. According to earlier reports, the project is valued at EUR 400 million.

With 42 turbines, Ialomiţa Nord will be among the largest wind farms in Romania. It is expected to become fully operational in 2027, local media reported, and sell electricity through a 15-year contract for difference (CfD).

The project will benefit from a 15-year contract for difference

Engie Romania currently owns and operates a total of 248 MW of renewable energy facilities – three wind farms, with a total capacity of 178 MW, and six solar power plants, totaling 70 MW. Ialomiţa Nord will increase its total renewables generation capacity in the country to 501.1 MW.

“With this acquisition, Engie continues to make significant progress in achieving its development plans in Romania, doubling its installed capacity for renewable energy production and consolidating its position in a market with remarkable potential,” said Cristian Buzan, Executive Vice President of Engie Romania.

The company has also secured CfDs for two other projects – one wind farm and one solar park – with a combined capacity of 224 MW. Earlier this year, it completed the acquisition of a 54 MW wind power project. The site is in Mereni in central Romania.

Engie plans to boost its renewables production and energy storage capacity in Romania to 1 GW

Engie’s objective is to increase its renewable energy production and storage capacity in Romania to 1 GW by 2030. The company supplies natural gas and electricity to over 2.3 million customers in Romania.

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December 19, 2025
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Applications open for first wind power auction in Kosovo*

The Ministry of Economy of Kosovo* invited the three prequalified entities to submit bids for a wind power auction for a targeted capacity of up to 100 MW. The authorities didn’t declare any deadline.

Eight months after the prequalifications process was completed, when Minister of Economy Artane Rizvanolli said the next phase would start soon, eligible bidders can now submit proposals within the first wind power auction in Kosovo*. They are France-based Akuo Energy, consortium of Notus Energy from Germany and domestic firm Stublla Energy, and a consortium led by Güri̇ş, headquartered in Turkey.

The prequalifications call was launched one whole year ago. The Ministry of Economy said it intends to award up to 100 MW. According to earlier updates, the plan is to support 150 MW in total in two rounds. Participants will bid for 15-year power purchase agreements (PPAs) and contracts for difference (CfDs).

Maximum bidding price is EUR 80.2 per MWh

Interestingly, no deadline was published in the announcement. Rizvanolli earlier said the request for proposals would last half a year.

The lowest price per megawatt-hour wins and the upper limit is EUR 80.2 per MWh.

Investments envisaged as public-private partnerships

Wind projects would be run by special purpose vehicles (SPVs), firms where the government would have a share of up to 49%, as per initial documentation. The Ministry of Economy intended to use the funds from the International Monetary Fund’s Resilience and Sustainability Facility (RSF) in the development of the 150 MW.

The purpose of the public-private partnership scheme is to reduce risk for the private investors. They will be obligated to design, build, operate, maintain and decommission wind parks.

Balancing responsibility is limited to imbalance volumes greater than 10%. Curtailment is subject to financial compensation.

Funded by Germany, International Finance Corp. – IFC, which is part of World Bank Group, has provided support for organizing the first wind power auction in Kosovo*, alongside the now defunct United States Agency for International Development (USAID), Luxembourg Development Cooperation Agency – LuxDev, and the European Bank for Reconstruction and Development (EBRD).

Kosovo* hosts just three wind power facilities: Selac, also known as Bajgora (104.1 MW), Kitka (32.4 MW) and Golesh (1.35 MW).

The first solar power auction was held last year.

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* This designation is without prejudice to positions onstatus and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.