December 8, 2025
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Zagreb to invest EUR 56 million in waste management, low-emission machinery

Croatia’s capital, Zagreb, intends to invest EUR 56 million in waste management, green areas, and low-emission machinery. It expects the investment to reduce the environmental footprint of its municipal utilities and their operating costs.

Zagreb Holding (ZGH), the umbrella firm for the city’s utility companies, has requested approval from the authorities for a long-term EUR 56 million green loan agreement.

The Zagreb city assembly will decide on the request on December 16.

The green loan agreement with the International Finance Corporation (IFC) would finance investments aimed at supporting the development of circular waste management by procuring lower-emission vehicles and machinery for separate waste collection, developing green spaces, and maintaining roads.

ZGH to introduce smart waste management technologies

The loan would also be used for primary waste separation infrastructure, bio-waste treatment facilities, as well as information and communication technologies for data-driven smart waste management operations, ZGH said.

The company intends to replace its existing outdated machinery by acquiring municipal vehicles, machines, and equipment, with the aim of increasing operational efficiency and the scope of services provided to citizens.

Additionally, this investment will have a significant environmental impact by reducing greenhouse gas emissions.

NOx and PM emissions will be reduced by up to 80%

According to an analysis by ZGH, the average age of more than 300 vehicles, machines, and pieces of equipment is 14 years, which significantly exceeds the average economic service life of vehicles and machines. More than 70% of the vehicles do not meet current environmental standards (EURO 6), which leads to negative impacts on the environment and rising maintenance costs.

Thanks to the investment in EURO 6 and Stage V compliant vehicles, emissions of nitrogen oxides (NOx) and PM particles would be reduced by up to 80%, the update reads.

ZGH plans to introduce digital systems to increase the operational efficiency of its vehicles and machinery, such as monitoring fuel consumption, technical condition, and mileage.

The loan proceeds will be allocated to the city’s public utilities.

The waste utility Čistoća will receive EUR 22.2 million, road utility Zagrebačke Ceste EUR 14.9 million, green areas utility Zrinjevac EUR 16.4 million, cemetery utility Gradska Groblja EUR 861,000, the ICT Sector EUR 1.5 million, and the customer relations sector EUR 120,000.

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July 31, 2025
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Production starts at new 38.4 MW wind farm northeast of Bucharest

Eximprod, which installed the first wind turbine in Romania more than two decades ago, delivered the first megawatt-hours to the grid from its new wind farm in the country’s east. In addition, it is about to receive a commercial operating license for a 49.5 MW solar park in Prahova county.

Several other wind parks are also under construction amid a revival in investments in Romania. Rezolv recently secured financing for phase 2 of its Vifor wind power plant, set to become one of the largest in Europe.

Romania has been enjoying a solar power boom for the past three years, and the pace of the construction of battery energy storage facilities (BESS) is accelerating. On the wind energy front, the country’s capacity has barely held above 3 GW for a long time after the 3.24 GW peak in 2014, due to the failure of an incentives mechanism. But the investment momentum is strengthening – notably, Eximprod said it launched the operation of its 38.4 MW wind power plant in the Galați area.

The company actually installed the first wind turbine in Romania. In 2003, it put online the Vestas V 47 machine of 660 kW in Topolog in Tulcea County in the country’s east.

Eximprod Group (EPG) also provides equipment and services in the energy sector. The company’s contractor Lemacons poured concrete less than half a year ago for the foundation of the first wind turbine in the new Cudalbi 2 facility. It is located in Galați county in eastern Romania, in the Western Moldavia region.

Eximprod received support through National Recovery and Resilience Plan

Cudalbi 2 is the first wind park in the country with Enercon turbines in 12 years. The model is E-160 EP5 E2, of 5.5 MW. Eximprod has won state support for the project northeast of Bucharest via the National Recovery and Resilience Plan (NRRP or, in Romanian, PNRR). The funds are approved under the European Union’s Recovery and Resilience Facility (RRF).

The company has also built the nearby Cudalbi 1 wind farm of 54 MW, consisting of nine turbines.

In addition, Eximprod is about to receive the commercial operating license from National Energy Regulatory Authority (ANRE) for its Solar System Project photovoltaic plant. It completed the facility with 49.5 MW in connection capacity in April. According to its documentation, the facility has 65 MW in peak capacity. It consists of five units with grid connections of 9.9 MW each.

The solar park is in Ciorani, Prahova county, north of the capital city. The endeavor was reportedly worth EUR 56.2 million including a grant of EUR 13.4 million from the NRRP. The company plans to add a BESS unit of 21 MW in operating power. The said final permit will allow the project firm to sell electricity.

Lenders indicate confidence in Romania’s wind power market with financing package for Vifor

In other recent news, Rezolv secured a EUR 331 million financing package for the 269 MW second phase of its Vifor wind farm in Buzău county. It includes EUR 44 million from the European Bank for Reconstruction and Development (EBRD).

Erste Group, UniCredit Group, International Finance Corp. (IFC), Intesa Sanpaolo Group, OTP Bank and Raiffeisenlandesbank Niederösterreich-Wien all participate in the arrangement.

The Vifor wind park would consist of 72 turbines of 6.4 MW each

The first part of Vifor is under construction and scheduled for commissioning in the spring. Rezolv plans to complete phase two in late 2027.  The wind park would be one of the biggest in Europe, at 461 MW. The company is installing 72 Vestas V162 turbines of 6.4 MW.

Rezolv won a contract-for-difference (CfD) at the country’s first renewable energy auctions for phase 2, for 240 MW. The government approved 1.1 GW for wind power. The qualifications phase is ongoing for the second round of auctions, for 2 GW for wind park projects and 1.47 GW for photovoltaics.

Several wind farms under construction

According to the International Renewable Energy Agency (IRENA), Romania had just under 3.1 GW in wind power capacity in operation at the end of 2024.

Eurowind Energy built the turbines earlier this year at its Pecineaga wind park. Greece-based Public Power Corp. (PPC) is supposed to connect its Deleni facility to the grid before the end of the year.

OX2 is building the Green Breeze wind farm as the turnkey contractor for the investor, Nala Renewables.

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April 16, 2025
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Alcazar joins forces with IFC to develop Štip wind farm project

Alcazar Energy Partners has signed a development support agreement with the International Finance Corporation, a member of the World Bank Group. The company intends to develop the largest renewable energy platform in the Western Balkans.

Alcazar Energy Partners (AEP) said the agreement provides access to development assistance funding for phase 1 of the Štip wind farm, the largest wind power project in North Macedonia, reinforcing both parties’ commitment to mobilizing private capital for sustainable infrastructure in strategic growth markets.

The start of construction of the first phase of the EUR 500 million Štip wind farm is envisaged later this year. The total installed capacity, once all phases are complete, would be approximately 400 MW.

According to Alcazar, the project will provide clean, reliable power to over 100,000 households and mitigate up to 690,000 CO2-equivalent tons emissions each year, marking a significant step towards strengthening North Macedonia’s energy security and renewable energy objectives.

Štip wind farm is AEP’s first project in North Macedonia

Štip wind farm is AEP’s first project in North Macedonia. It reflects the firm’s strategy to expand its presence across the Western Balkans, where it has already acquired a 1.5 GW pipeline of greenfield onshore wind and solar assets, delivering renewable energy infrastructure that supports national ambitions and global climate goals.

The project was launched ten months ago. The sites for more than 50 turbines are on the territories of the municipalities of Karbinci, Radoviš, and Štip, southeast of the capital city of Skopje.

The signing ceremony took place on the sidelines of the ESG Adria Summit in Porto Montenegro.

AEP is currently advancing a detailed project design

“Our continued partnership with IFC is instrumental as we progress with the Štip wind farm. Together, we’re not only advancing the energy transition but also supporting economic development and long-term energy security. We look forward to delivering a project that brings lasting value to communities and reinforces North Macedonia’s sustainability ambitions,” Co-Founder and Managing Partner of Alcazar Energy Partners Daniel Calderon stated.

AEP, currently advancing a detailed project design, has engaged leading engineering, environmental, legal, and social advisors to ensure the project meets the highest international standards.

Avato: The Štip wind Farm in North Macedonia is a natural extension of our collaboration

According to Patrick Avato, IFC’s Manager for Infrastructure and Energy in Europe, the two sides built a strategic partnership over more than a decade, working together to advance sustainable energy projects across emerging markets.

“The Štip wind farm in North Macedonia is a natural extension of this collaboration, aimed at expanding access to affordable, clean energy—essential for economic competitiveness and growth. In addition to strengthening the country’s energy security, the project also reflects IFC’s commitment to supporting sustainable energy solutions that meet international standards and contribute to a just energy transition in the region,” he asserted.

The signing was also attended by Tim Sheahan, Senior Director at AEP.

Alcazar Energy Partners is an independent infrastructure fund manager focused on the development, financing, construction, and operation of utility-scale renewable energy projects in growth markets since 2014. It now has a cumulative renewable energy portfolio of more than 4 GW, reads the press release.

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April 6, 2025
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Kosovo* issues terms for upcoming wind power auctions

The first wind power tenders in Kosovo* will be conducted in two rounds of 75 MW to 100 MW each. The Ministry of Economy published the draft criteria for participants. It intends to issue the first call in October.

Instead of a single first tender, the Ministry of Economy in Prishtina said it would auction off electricity from wind power projects in two rounds. Advised by the International Finance Corp. (IFC) and with support from the Energy Sustainable Activity (ESA) project of the United States Agency for International Development (USAID), Kosovo* issued the conditions for applicants.

Mirroring the first solar power auction, both tenders will consist of two stages: qualifications and proposals, according to the ministry. The approximate total quota is 150 MW and each bidding will be for 75 MW to 100 MW, it explained.

Second round to begin next year

The document lists preliminary requirements regarding project feasibility, sustainability and the bidders’ experience and capacities. The conditions can still change before the release of the tender documentation, the authorities pointed out.

The first call for qualifications is expected to be published in October and the qualified bidders will be invited to submit proposals early next year, the ministry revealed. It added that it intends to kickstart the second procedure in 2025.

IMF is funding wind tenders in Kosovo*

Kosovo* is tapping into the International Monetary Fund’s (IMF) Resilience and Sustainability Facility for the 150 MW endeavor. The ministry added that it would coinvest in wind energy projects under a public-private partnership mechanism. It would lower the risk for private investors, it said.

The locations for the projects are still unknown. Auction winners are entitled to power purchase agreements (PPAs), the announcement reads.

The documentation shows applicants would be required to submit production estimates per year over a 20-year period. The assessments must be carried out by independent and qualified wind energy consultants. The company or consortium will also be obligated to hire biodiversity specialists to conduct basic studies on birds and bats.

Eligible companies have experience in the development and operation of grid-connected renewable electricity plants of 60 MW in total. The minimum share of wind is 40 MW, of which one project must be bigger than 20 MW, the summary shows.

The government earlier said it was planning auctions for 950 MW including battery storage within two years.

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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.
June 23, 2016
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IFC Supports Albania as it Increases Security of Energy Supplies

albaniaIFC, a member of the World Bank Group, and the Albanian Ministry of Energy and Industry have signed a Memorandum of Understanding designed to establish the day-ahead electricity market in Albania, bolster country’s electricity supplies and better connect it to the rest of Europe. 

IFC will advise the Albanian government on the creation of the day-ahead electricity market. The market will become the main arena for trading power, allowing Albania to buy electricity from and sell electricity to its neighbours quickly and easily. The day-ahead market is expected to help promote the integration of Albania’s electric grid with the rest of Europe, including neighboring Kosovo. It will also increase price transparency, and improve the investment climate for new power projects, according to IFC.

“Albania is committed to the liberalization of its power market, and we have recently adopted new energy laws,” said Damian Gjiknuri, Albanian Minister of Energy and Industry. “The establishment of the day-ahead electricity market is an important step in that process.” 

Albania is a candidate to join the European Union and has recently joined the Energy Community, a multi-national body, with the EU and other Balkan countries. 

“IFC is supporting the establishment of the electricity market in Albania through a combination of advisory and investment services,” said Thomas Lubeck, IFC Manager for the Western Balkans. “We are looking forward to working with our partners on the establishment of the day-ahead electricity market, which is going to benefit producers, traders, and customers in Albania.” 

This project is implemented by IFC’s public-private partnerships transaction advisory unit, supported by the Ministry of Foreign Affairs of Norway, the Swiss State Secretariat for Economic Affairs (SECO) and the Ministry of Finance of Austria. 

Albania became a shareholder and member of IFC in 1991. Since then, IFC has invested $762.3 million in the country, including $279 million mobilized from our partners, in 24 projects across a variety of sectors. In addition, IFC has supported trade flows of $6 million through its trade finance program. 

Currently, IFC’s committed investment portfolio in Albania is $187 million.  IFC’s advisory services in Albania, some offered in partnership with the World Bank, aim to improve the investment climate, boost the performance of private sector companies, increase access to finance, and help attract private sector participation in development of infrastructure projects.