May 16, 2025
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Consortium completing spatial plan for solar-BESS strategic partnership in Serbia

Representatives of Hyundai Engineering and UGT Renewables, the companies developing a solar power project in Serbia of 1.2 GW in total, and with batteries, said the strategic partnership is a step toward expansion in the surrounding region. Spatial planning is nearly complete.

Following the signing of grid connection contracts last week, the Hyundai Engineering – UGT Renewables consortium is advancing the design and permitting procedures within its strategic partnership in Serbia.

The two companies are tasked with building a group of photovoltaic plants of 1.2 GW in total peak capacity and connections of 1 GW overall, alongside battery energy storage systems (BESS) with a combined 200 MW in operational power and a maximum 400 MWh in capacity.

Group of hybrid power plants to be transferred to EPS

In a keynote speech at Belgrade Energy Forum – BEF 2025, Vice President of Hyundai Engineering Seung-Won Lee revealed that the consortium is finalizing the special plans for special purpose areas. The facilities will be handed over to Serbia’s state-owned power utility Elektroprivreda Srbije (EPS), he noted.

The representative of the South Korea–based company added that the PV plants would generate 1.5 TWh per year and offset more than one million tons of carbon dioxide emissions. It is one of the largest renewable energy projects in Europe and a cornerstone for Hyundai Engineering, Lee pointed out.

UGT Renewables has project pipeline of 20 GW

Global Executive Advisor of UGT Renewables Chan-Woo Park said it is the largest renewable energy developer, internationally, in the United States. Its portfolio of companies is operating on four continents, he added. The regions include Southern Africa, the Middle East and Latin America, Park underscored.

The solar power and energy infrastructure projects under development account for 20 GW, UGT’s representative asserted.

 

It has established partnerships worth over USD 30 billion altogether, with Hyundai Engineering and other companies including Nextracker, Shoals Technologies, Hitachi Energy and Tesla Energy, Park stressed.

According to the update, the strategic partnership in Serbia is the beginning of the consortium’s regional expansion in the surrounding region.

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May 15, 2025
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Belgrade Energy Forum 2025 – energy market reforms accelerate integration into EU

Electricity market coupling with neighbors in the European Union is a major factor in the EU integration of Energy Community contracting parties and the Western Balkans, alongside deeper coordination within the region, the establishment of energy interconnections, investments in renewables and progress in carbon pricing, top officials pointed out at the opening of Belgrade Energy Forum – BEF 2025.

Founder and Editor of Balkan Green Energy News Branislava Jovičić said the current changes in the energy sector can already be called an energy revolution.

The third Belgrade Energy Forum, BEF 2025, started today in Serbia’s capital city, welcoming four hundred participants from more than 30 countries from the region, Europe and beyond. The two-day conference, organized by Balkan Green Energy News, features eight panels with over 50 officials, executives and prominent energy experts.

Serbia was the first in the region to meet the preconditions for electricity market coupling with neighboring countries in the European Union and Energy Community, said Minister of Mining and Energy Dubravka Đedović Handanović. She added that the technical process would be completed within 18 months after the EU Agency for the Cooperation of Energy Regulators (ACER) and European Network of Transmission System Operators for Electricity (ENTSO-E) conduct the necessary steps.

Electricity market coupling will be completed within 18 months when the technical process starts

“It will be a historic event for our country for its benefits for citizens and companies, as it will ensure a more stable electricity supply and access to more affordable energy prices. It will turn us into an equal member within the region but also the EU as concerns the energy sector,” Đedović Handanović stated.

The SEEPEX power exchange has already prepared implementation projects with its counterparts in Hungary and Bulgaria for market coupling on their borders, the minister stressed.

Up to EUR 15 billion needs to be invested in energy

Đedović Handanović also pointed out that domestic and European regulators certified Serbia’s gas transmission system operator Transportgas for the first time. The start of construction of the Serbia-Hungary oil pipeline is expected to begin early next year at the latest, the minister said.

The baseline for the development plan for energy infrastructure and energy efficiency should be completed by the end of May, she revealed. It identifies the need for EUR 14 billion to EUR 15 billion in investments in the next ten years, according to Đedović Handanović. Renewables and new hydropower potential account for EUR 7 billion, she said.

Serbia will double the electricity transmission capacity with Hungary and increase it with Bulgaria, the minister asserted.

Serbia is frontrunner in region with its progress toward market coupling

As the Western Balkan region confronts the trailing trilemma of decarbonization, affordability, and energy security, the need for an accelerated integration with the European Union has never been more urgent, Energy Community Secretariat Director Artur Lorkowski said.

The organization provides a platform for the process, a strategic window of opportunity to inspire market confidence now, not in years or months to come, he explained. Lorkowski said it implies deeper coordination among Energy Community contracting parties in removing cross-border bottlenecks and harmonizing market operations.

Above all, there is an urgent need to move forward on electricity market integration with the EU, so the region can fully benefit from it in 2027, he noted, underscoring that Serbia is the frontrunner.

Exporters of electricity to the EU can attend a technical consultative meeting in Brussels on July 1

The Carbon Border Adjustment Mechanism (CBAM) is another urgent priority, Lorkowski said. He announced that the Energy Community Secretariat and European Commission would organize a technical consultative meeting in Brussels on July 1 for electricity exporters to the EU.

The establishment of domestic carbon pricing mechanisms is inevitable, Lorkowski warned. The question is how to introduce domestic carbon pricing and keep energy prices affordable for households and competitive for businesses, he told the audience at BEF 2025.

“The way forward is clearly defined, and the conditions linked to energy market reform and decarbonization are well known. And I’m, frankly speaking, very optimistic that progress on these issues can be substantive in months and years to come,” the secretariat’s head stressed.

Jovičić: Energy revolution underway

Energy and climate issues are among the most important ones in the world today, as well as in Southeastern Europe, Founder and Editor of Balkan Green Energy News Branislava Jovičić said. All stakeholders, aware of the necessity of rapid changes and prudent solutions, are working toward a secure energy supply and decarbonization, she added.

“Last year we spoke about the energy transition. This year we can freely call the changes in the energy sector an energy revolution,” Jovičić stated. The five pillars of the energy revolution are solar and wind power, battery storage, digitalization, nuclear energy and decentralized generation and consumption, she stressed.

Balkan Green Energy News is a leading energy media website in the region and one of the top 50 in the world, Branislava Jovičič said.

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May 15, 2025
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CWP Europe signs PPA, CfD for its Solarina PV project with Serbia’s EPS

CWP Europe signed a power purchase agreement (PPA), including balancing responsibility, and a contract for difference (CfD) for its Solarina photovoltaic project, with Serbia’s state-owned power utility Elektroprivreda Srbije (EPS).

Solarina is a special purpose vehicle or SPV for a photovoltaic park of 150 MW in connection capacity. Its site is near the city of Zaječar in eastern Serbia. The developer, CWP Europe, won a CfD in February for 105 MW at the country’s second solar power auction. All other projects were for 10 MW at most.

Executive Vice President of CWP Europe Maja Turković signed a PPA and the contracts for difference and balancing responsibility for Solarina with Assistant to CEO of EPS for Power Portfolio Management David Žarković.

Largest single PPA ever signed for solar power with EPS

The agreement marks a major milestone in Serbia’s energy transition – it is the largest single PPA ever signed for a solar project with EPS, Turković pointed out. “We thank the Ministry of Mining and Energy and EPS for their trust and another opportunity to jointly contribute to a more stable and greener energy future for Serbia,” she added.

CWP Europe has a project pipeline of more than 10 GW in Southeastern Europe, Moldova and Ukraine

All green electricity generated by the Solarina solar park will be supplied to the domestic market at a competitive price, enhancing the stability and sustainability of the country’s energy supply, CWP Europe added. Of note, the CfD is for EUR 52.89 per MWh.

“The continuation of the cooperation confirms once more that EPS is a reliable partner and associate to everyone whose business activity involves green energy. In addition, this way we also confirm the joint dedication to Serbia’s energy transition and the development of renewable energy sources, as EPS will offtake all produced energy and it will remain in our country,” Žarković stated.

PPAs for projects Solarina, Vetrozelena are both for entire output

Serbia’s state-owned power utility has the same arrangement since 2023 for the Vetrozelena wind power project, which was developed by CWP Europe and also won market premiums, at the first round of renewable energy auctions. Both PPAs are for the entire output.

The company has a project portfolio of more than 10 GW in total for wind and solar power and battery energy storage systems in Serbia, Bulgaria, Romania, Montenegro, Albania, North Macedonia, Croatia, Moldova and Ukraine.

CWP is a silver sponsor of the two-day Belgrade Energy Forum – BEF 2025, which is starting tomorrow. Maja Turković will participate in the panel discussion ‘Energy revolution underway – uniting efforts to deliver green, intelligent and sustainable energy solutions’.

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May 14, 2025
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Electrohold Trade partners with TMH to optimize 2.5 GWh of battery storage in Bulgaria

Early next year, The Mobility House (TMH) is set to ramp up the aggregation of Electrohold’s energy assets in Bulgaria under a newly signed deal. It focuses on the planned 2.5 GWh in battery energy storage systems (BESS).

Electricity trading firm Electrohold Trade selected The Mobility House (TMH) to provide advanced aggregation and trading software. The solution will optimize the Bulgarian firm’s portfolio, enhance returns from its energy assets, and support the electricity system’s balance and stability, according to the announcement.

The subsidiary of Eurohold Bulgaria’s or Eurohold Group (Evrohold) manages a pool of photovoltaic assets and battery energy storage systems. The assets are expected to reach 1 GW and 2.5 GWh, respectively. The full commercial rollout is targeted to begin in the last quarter of 2025, with further rampup expected into early 2026, the company said.

TMH GOING Far beyond traditional feed-in models

Germany-based TMH is active since 2016. Electrohold Trade said it is leveraging the aggregator’s technology to commercialize energy storage systems and maximize returns on its solar power assets through advanced flexibility and intermittence trading – going far beyond traditional feed-in models.

TMH stressed that Electrohold’s energy storage initiative is the largest in Europe.

Colocation project with signaling impact

A defining feature of the initiative is its colocation concept, where battery storage systems are installed directly adjacent to solar parks. It enables optimal utilization of both assets, the companies said. By directly linking them, the fluctuating output of renewable energy can be more effectively managed – enhancing grid stability while minimizing the need for expensive grid expansions.

It not only results in improved grid flexibility, but also contributes to the grid’s better balancing, the update reads. The project positions battery storage systems as a central element in Bulgaria’s future energy landscape, leveraging advanced algo trading software and innovative incentive structures to unlock the full potential of renewable integration, the partners added.

“By strategically employing colocation solutions and the latest technology, we are creating a platform that is not only economically attractive but also significantly enhances the technical resilience of the Bulgarian power grid at lower costs,” said Eurohold Bulgaria’s Chair of the Supervisory Board Assen Christov.

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May 14, 2025
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Construction starting in second phase of giant PV plant in Peloponnese coal land

Terna won the contract for the construction of the second of the three parts of a 490 MW solar park in Megalopolis, on former lignite mines. Public Power Corp. – PPC Group said the third phase would begin next year.

The second phase of the construction of a 490 MW photovoltaic plant in Megalopolis is beginning, transforming former lignite sites in the Peloponnese peninsula into a green energy hub. PPC Group’s subsidiary PPC Renewables signed an engineering, procurement and construction (EPC) contract for 125 MW on 49.4 hectares with Terna, part of the GEK Terna conglomerate.

The first phase, 125 MW, is under construction. PPC intends to complete it by the end of the year. It expects to begin building the third phase, 240 MW, in 2026.

Bifacial panels to be on fixed structures

The second part entails 215,000 bifacial solar panels on fixed structures. The facility would be connected to the Megalopoli Ultra High Voltage Substation via a new high voltage substation at the Neo Choremi site.

The entire 490 MW would generate an estimate 860 GWh per year, the announcement reads. It is equivalent to the electricity needs of 215,000 households. The projected output would prevent carbon dioxide emissions of 430,000 tons per year.

PPC already has a 50 MW photovoltaic plant in Megalopolis, the smaller of the two coal regions in Greece.

Replicating solar makeover from Western Macedonia

Deputy Chief Executive Officer of PPC Group and CEO of PPC Renewables Konstantinos Mavros compared the project in the Peloponnese to the ones in coal land in Western Macedonia in the country’s north. Just like in Ptolemaida, the Megalopoli photovoltaic plant is going to replace the the production of electricity from coal and ensure the historic continuity of the area’s role in energy supply, he pointed out.

The utility’s three-year strategic plan for the period through 2027 is to install 5.6 GW more from renewables in Greece and Southeastern Europe, reaching 11.8 GW in the segment. PPC said it is also looking to expand its portfolio with new technologies such as offshore wind power and floating photovoltaics, also known as floatovoltaics.

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May 14, 2025
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Romania launches renewables auction for 3.5 GW

Following a successful first round, in which developers won government support for projects of 1.53 GW altogether, the Romanian Ministry of Energy issued another call, for 3.47 GW of wind and solar power capacity. The deadline for submissions is July 11.

The Ministry of Energy of Romania issued a public call for the second round of auctions under a mechanism for awarding contracts for difference (CfDs). With EUR 3 billion at hand, via the European Union’s Modernisation Fund, the country is supporting an overall 5 GW of wind and solar power capacity.

Developers can apply by July 11 for the remaining quotas of 2 GW for wind parks and 1.47 GW for photovoltaic facilities. In the first round, 21 participants won the subsidies for 1.1 GW and 432 MW, respectively.

Romania cuts ceiling prices

Ceiling prices for government support are lower this time. Wind power is at EUR 80 per MWh or EUR 2 per MWh under the previous maximum possible bid. The authorities slashed the cap for solar power to EUR 73 per MWh from EUR 78 per MWh.

The contracts for difference would last 15 years. The burden of administrative and electricity transmission expenses is passed on to consumers.

More leeway for large players as they are no longer limited to 25% of quota

Another difference is that the 25% cap on the maximum capacity awarded per applicant was scrapped, the documentation shows. In addition, there is a possibility to award up to 20% more capacity than in the nominal quota. Minister of Energy Sebastian Burduja explained that the idea is to avoid the risk of losing a large project with a marginal bid.

He noted that Radramo Power is developing the largest wind power project from the first auction, 245 MW. The Heliowin project, for 125 MW, is the biggest one in the PV segment. It belongs to Israeli company Econergy. Both proposed facilities will launch production by January 28, according to the schedule.

In the first phase, applicants will qualify with their technical offers. The plan is to open financial bids from eligible entities on August 13, and the winners would have until September 9 to sign the contracts. Romania’s transmission system operator Transelectrica has the task to evaluate the applications.

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May 13, 2025
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Second HVDC link from mainland Greece to Crete coming online

Greece’s Independent Power Transmission Operator (IPTO) is completing the last elements of the Ariadne Interconnection project, one of the deepest subsea links in the world. The company plans to switch on the double high-voltage direct current (HVDC) cable between Attica and Crete by the end of the month. In addition, IPTO and its Italian counterpart Terna are developing a project for a second interconnector between them.

Final tests and equipment checks are being completed at the Damasta Converter Station in Heraklion ahead of the start of the trial operation of the Crete-Attica electricity link. The management of IPTO, also known by its Greek acronym Admie, and the HDVC Ariadne Interconnection project firm inspected the site.

The transmission system operator said it plans to energize it this week by injecting reactive power into the electricity system in the country’s biggest island.

The transmission of active power from Attica to Crete is set to begin in late May, the update adds. Ariadne consists of two 500 kV cables of  500 MW each. One end is in Pachi in the city of Megara, between Athens and Corinth, and the other one in Korakia in Crete. The submarine and underground cables were tested earlier.

Line on mainland is under trial electrification

At the same time, on the Attica side, a trial electrification of a 400 kV cable system is taking place between the Koumoundouros Converter Station and the adjacent Extra High Voltage Center. Ariadne Interconnection is the largest and most complex electricity transmission project in Greece so far, IPTO underscored.

Furthermore, a 150 kV transmission line between Chania and Damasta recently received the decision on the approval of environmental conditions (AEPO), the company added. It is considered necessary for an optimal combined use of Crete’s two interconnections with the mainland, the announcement reads. The first one, from Peloponnese, was established in 2021.

Ariadne, worth more than EUR 1.1 billion, is one of the three deepest interconnections in the world. The HVDC line’s capacity matches the interconnector to Sardinia, the strongest power link so far with an island.

The project is co-financed through the National Strategic Reference Framework (NSRF 2014-2020 and NSRF 2021-2027), via the European Union, with up to EUR 535.5 million. The idea for the endeavor dates back to the 1990s.

The contractors are Nexans and Prysmian. Each was responsible for one of the two cables while the latter also laid two submarine telecommunication lines.

Erdoğan again taunts Great Sea Interconnector by promising alternative cable

Ariadne is part of a proposed corridor with the Great Sea Interconnector project, formerly EuroAsia Interconnector, envisaged going to Cyprus and Israel. The Crete-Cyprus investment has been suffering heavy delays amid financing issues, ownership disputes and Turkey’s threats.

In early May, President Recep Tayyip Erdoğan visited the Cypriot Turkish breakaway republic, recognized only by Turkey, and promised an interconnection with his country. He compared it to an existing water pipeline.

“Did we bring water from under the sea to Northern Cyprus from Turkey? Now we are in the second stage. God willing, we will bring electricity and with that we will cover the needs of Northern Cyprus in water and electricity,” Erdoğan stated.

Notably, IPTO denied yesterday a press report that it is considering the possibility, together with Nexans, the contractor, to alter the route and connect Crete with the Dodecanese Islands instead of with Cyprus. The archipelago includes Rhodes, Astypalaia (Astypalea), Kos and Tilos.

EBRD is providing a grant for the first studies for an interconnection between Greece and Egypt

In other news, the European Bank for Reconstruction and Development (EBRD) and Elica Interconnector, a member of the Copelouzos Group, signed a grant agreement for the first studies for the planned Egypt-Greece (GREGY) electricity interconnection.

IPTO and its Italian counterpart Terna signed today a memorandum of understanding to install a second undersea HDVC power line. The GR.ITA 2 project is for a double cable, two times 500 MW, scheduled for completion in 2031. The two sides earmarked a total of EUR 1.9 billion.

The existing 500 MW interconnector, in operation since 2002, is temporarily down due to a malfunction.

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May 12, 2025
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Bulgaria’s IBEX launches guarantees of origin market

Four participants registered last month at the Independent Bulgarian Energy Exchange’s guarantees of origin platform, creating a national market. Separately, IBEX is preparing to roll out a 15-minute market time unit in the Single Day-Ahead Coupling on June 11 with other European nominated electricity market operators.

The Independent Bulgarian Energy Exchange (IBEX) said it launched a market for guarantees of origin (GOs) of electricity with the Sustainable Energy Development Agency (SEDA or, in Bulgarian, AUER). It is part of the efforts to develop a liberalized energy market and promote renewable energy, it added.

IBEX is Bulgaria’s nominated electricity market operator or NEMO. The country’s legal framework envisages issuing GOs monthly, quarterly and semianually.

After the launch of registration on March 31, four companies joined last month: Aurubis Bulgaria, Armaco Energy, Energo-Pro Energy Services and KER Toki Power, the announcement reads.

No timeline for kickoff yet

IBEX, solely owned by the Bulgarian Stock Exchange (BSE), reiterated that its new platform provides for trading with clear rules, guaranteed payments and price transparency. Notably, there is no timeline for the kickoff.

The preparations for the rollout of a GO market lasted several years. The certificates are issued by renewable energy producers. Consumers buy them to prove their progress in decarbonization.

One GO covers 1 MWh of electricity production or consumption. When SEDA achieves integration with the European guarantees of origin system, the participants in the Bulgarian platform will be able to trade abroad as well. Neighboring Greece introduced GOs last June.

IBEX, founded in 2014, operates day-ahead and intraday markets and a mechanism for bilateral contracts.

Europe transitioning to 15-minute products in day-ahead electricity market

In other recent news, the Bulgarian NEMO co-signed a statement with its counterparts across Europe, affirming the commitment to transition to a 15-minute market time unit (MTU) within the Single Day-Ahead Coupling (SDAC) project on June 11.

The group includes Hellenic Energy Exchange – HEnEx (EnExGroup), Energy Exchange Austria (EXAA), Nord Pool, Croatian Power Exchange (CROPEX) and the Romanian Commodities Exchange (BRM).

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May 12, 2025
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Major offshore wind projects shelved in another blow to industry

Investors in offshore wind farms, especially European ones, are facing increasing losses – Ørsted decided to halt its Hornsea 4 project in the United Kingdom, while the United States stopped the construction of Equinor’s Empire Wind 1 facility.

After the energy crisis and the impact of Russia’s invasion of Ukraine, the resulting surge in inflation and the European industry’s weakening competitiveness, the offshore wind sector has suffered another blow from the drastic reversal of energy and climate policy in the United States. The administration of United States President Donald Trump turned against wind power, particularly offshore projects.

Meanwhile, China’s expansion in the sector is looking more and more like the case with solar power, where it has achieved absolute dominance on the global market. It is making it even more difficult for Western wind turbine producers and project developers to remain above water.

Ørsted announced that it is discontinuing its Hornsea 4 project in the United Kingdom “in its current form.” The Denmark-based developer and operator left the possibility of restarting the endeavor later “in a way that is more value-creating.”

The company won a contract for difference (CfD) at an auction in September for the 2.4 GW project, but it still couldn’t keep it afloat – financially, that is.

Hornsea 4 could have become the second-largest facility of its kind off European shores. The CfD is equivalent to GBP 83 per MWh in current prices.

Offshore wind expansion depends on potential returns for investors

Ørsted cited a continued rise in supply chain costs, higher interest rates, and an increase in the risk regarding the timeline. Group President and Chief Executive Officer Rasmus Errboe pointed out that the company made the move “well ahead of the planned final investment decision later this year.” He also mentioned adverse macroeconomic developments.

Breakaway costs are estimated at EUR 469 million to EUR 603 million, Ørsted said. It sees the impact on earnings before interest, tax, depreciation and amortization (EBITDA) at EUR 402 million to EUR 469 million. It includes a writedown of the offshore transmission assets and cancellation fees. The company expects to write down EUR 67 million to EUR 134 million in construction costs.

WindEurope: Costs can go up between bidding in an auction and procuring equipment, and auctions have to be fully indexed to reflect that

“The pause on Hornsea 4 shows how difficult it is to get offshore wind projects over the line. Costs can go up between bidding in an auction and procuring equipment, and auctions have to be fully indexed to reflect that. More broadly, the investors who make projects happen need a return,” WindEurope commented.

The association stressed that governments are responsible for making value achievable. “Then they’ll get the volumes they want,” the statement adds.

Empire Offshore project stopped in middle of construction in US

In probably the most drastic example of the offshore wind industry’s troubles in the US, the federal authorities forced Equinor to stop its Empire Offshore project last month. The Empire Offshore 1 segment, of 810 MW, was in the middle of construction! The Bureau of Ocean Energy Management (BOEM) ordered the halt pending a comprehensive review.

Notably, the Norwegian government-controlled company was developing the project under a contract with the State of New York. It is in a group of 17 US states and Washington DC which this week challenged, at a federal court in Massachusetts, Trump’s executive order on wind power.

At the end of March, Empire Wind had a gross book value of USD 2.5 billion, including South Brooklyn Marine Terminal, Equinor revealed. By that moment it drew USD 1.5 billion from the loan facility for the project.

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May 12, 2025
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Serbia’s EPS signs PPAs for wind parks Alibunar 1, Alibunar 2

Serbian state-owned power utility Elektroprivreda Srbije will offtake electricity from future wind parks Alibunar 1 and Alibunar 2, of 168 MW in combined capacity. EPS’s Chief Executive Officer Dušan Živković and Project Director of WV-International in Serbia Lazar Lazendić signed today the power purchase agreements (PPAs) and the contracts for difference (CfD) and balancing responsibility.

Wind power projects Alibunar 1 (96.6 MW) and Alibunar 2 (71.4 MW) are among the winners from the latest round of auctions for market premiums for renewable energy in Serbia.

CEO of state-owned power utility Elektroprivreda Srbije (EPS) Dušan Živković signed the power purchase agreements (PPAs) and the contracts for difference (CfD) and balancing responsibility for the two planned facilities with Project Director of WV-International in Serbia Lazar Lazendić.

“EPS is committed to investing in the construction of power plants running on renewable sources, and this way we are strengthening our production portfolio and market position, and we actively support all investors in renewable energy sources. EPS will offtake all the generated electricity, the energy remains in Serbia, and the purchase and balancing price is set according to market principles, which incentivizes investors and enables additional profit for EPS. This energy will also give a substantial, additional security to the operations of our electricity system and to supplying citizens and companies,” Živković asserted.

Commitment to domestic market solidified

At the signing ceremony, Lazar Lazendić pointed out that the said success in auctions represents the materialization of important objectives in the development of the projects Alibunar 1 and Alibunar 2.

“Today’s signing of the contract with Elektroprivreda Srbije, encompassing market premiums, the purchase of electricity, and balance responsibility for our future wind farms solidifies our strong commitment to this market and plays a crucial role in driving Serbia’s energy transition forward,” he added.

Alibunar 1 and Alibunar 2 are SANY Renewable Energy’s first investment in Serbia

The special purpose vehicles, SPVs, or project firms for the two facilities are called Windvision Windfarm A and Windvision Windfarm B, respectively. They are majority owned by SANY Renewable Energy.

“The Alibunar 1 and Alibunar 2 wind farm projects are crucial for our company. SANY Renewable Energy is entering the Serbian market and the Western Balkans region through these projects. This will be the first installation of our wind turbines in these wind farms, serving as a model for our future expansion. We are eager to collaborate with local stakeholders and partners to enhance the country’s energy security,” said Zhou Fugui, Chairman of SANY Renewable Energy and member of the Board and Executive President of SANY Group.

WV-International is the gold sponsor of the Belgrade Energy Forum – BEF 2025, which will be held on May 14 and 15 in Serbia’s capital city, and SANY Renewable Energy is an exhibitor.

Živković: EPS obtained additional 2.6 GW from renewable sources

Živković also said that in the two rounds of auctions facilitated 850 MW of wind and solar power capacity and that, with investors that participated in the two rounds of auctions and other independent producers in Serbia, it already has an additional 2.6 GW from renewable energy sources.

The level will increase by 1 GW in 2028 from the self-balancing solar power plants that the company is developing with its strategic partner, the consortium of UGT Renewables and Hyundai Engineering, he added. “That’s when we expect the production from renewable energy sources to reach 50% of the total electricity production,” the head of EPS underscored.

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