January 1, 2026
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Turkey to launch carbon market, sign deals for large renewables projects in 2026

Turkey will launch a national carbon trade market, sign intergovernmental agreements on large-scale renewable energy projects and connect 2,000 MW of energy storage to the grid in 2026. These moves will be accompanied by the historic start of electricity production at the country’s first nuclear power plant Akkuyu, and a doubling of domestic natural gas production from the Sakarya field.

These developments represent the core of the 2026 vision for energy and mining in Turkey, revealed by Minister of Energy and Natural Resources Alparslan Bayraktar.

Large-scale projects will be launched next year through intergovernmental agreements, he stressed.

The deals include solar and other renewable energy technologies and storage, Bayraktar explained.

According to the minister, Turkey remains committed to its emission reduction targets. The government plans to launch a carbon trade center and market in 2026 within the Energy Exchange Istanbul (EXIST or EPİAŞ), he said.

Of note, Turkey’s imports of a group of goods and electricity to the European Union will be subject to the CBAM carbon border tax from January 1, 2026.

Energy storage facilities totaling 2,000 MW will be commissioned in 2026

Bayraktar recalled that the country issued permits for the installation of an overall 33,500 MW of energy storage. A very small portion has been implemented so far, but 2,000 MW will be commissioned in 2026, he underlined.

The minister said Turkey is considering the introduction of Storage Resources Zones or Depolama Alanları (DEKA) in 2026.

It would be similar to Renewable Energy Zones mechanism – REZ or YEKA – for support for solar and wind projects.

Bayraktar mentioned that a 5,000 MW solar power arrangement with Saudi Arabia-based ACWA is being discussed. Of note, it is equivalent to between 30% and 40% of Turkey’s current photovoltaic capacity.

Locations for the 2,000 MW solar project are in Sivas and Taşeli

He expressed belief that the agreement for the first phase, which envisages 2,000 MW, would be finalized in the first quarter of 2026. The plan is for 1,000 MW in Sivas and 1,000 MW in Taşeli.

A solar-plus-storage project with another company from a different country in the Persian Gulf is also under consideration, Bayraktar revealed. The investment is estimated at EUR 1.5 billion to EUR 2 billion.

A floating solar power plant of about 3,000 MW will be built as soon as possible, according to Bayraktar

In Bayraktar’s view, there is great potential in floating solar power plants. The country intends to implement a floating solar power plant of about 3,000 MW as soon as possible, the minister underlined.

The partners in this endeavour could be private companies or Turkish government-controlled Electricity Generation Corp. (EÜAŞ), the minister said. He claimed significant plans have been developed for offshore wind projects for 2026.

“We are considering a model similar to YEKA for offshore wind,” he added.

Russia to provide USD 9 billion for Akkuyu

turkey 2026 vision energy Alparslan Bayraktar brifing
Photo: Ministry of Energy and Natural Resources

The Akkuyu project is entering its final stages, according to the minister.

The country secured a USD 9 billion financing package from Russia for the investment, of which USD 4 billion to USD 5 billion is intended to be drawn in 2026.

Simultaneously, the ministry is in talks with South Korea, the US, China, and Russia for nuclear projects in Sinop and Thrace.

The Sakarya gas field is expected to double its current output in 2026, to 7.5 billion cubic meters, Bayraktar underscored.

This surge will prevent approximately USD 3.2 billion in energy imports, he explained.

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January 1, 2026
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Fortis kicks off construction of solar power plant in Albania

Fortis Energy has started the construction of solar power plant Ersekë with a capacity of 75 MW.

The Ersekë Solar Power Plant project in Albania has transitioned to the construction phase, featuring a total peak capacity of 75 MW, and it will be integrated with a 25 MWh battery energy storage system (BESS), Turkey-based Fortis Energy said.

Following the formal approval, the company moved to the execution stage in the village of Taç-Lartë, in the municipality of Kolonja in the country’s southeast.

Of note, in June Fortis Energy received approval from the Albanian government for the construction of a photovoltaic plant. The company is allowed to operate the facility for 49 years from the entry of the decision into force.

The PV project is set to generate 135 GWh per year

Now the company recalled that the PV facility is set to generate 135 GWh per year of clean energy. It would mark a major milestone in Albania’s green energy transition by combining solar generation with advanced storage capabilities, it added.

Fortis, which was a bronze sponsor this year at Belgrade Energy Forum 2025 (BEF 2025), organized by Balkan Green Energy News, has also invited qualified suppliers and contractors to submit their inquiries for upcoming construction and procurement packages.

“We are looking for partners who share our commitment to health, safety & environment (HSE) excellence, technical precision, timely delivery,” the company stressed.

Fortis Energy is working on renewable energy projects totaling 2 GW

The facility must be built within 36 months from the entry of the decision into force, according to the government’s approval.

The 36 months for construction, ancillary works and commissioning are included in the said 49 years of the operation of the facility.

Of note, Fortis Energy is working on renewable energy projects of 2 GW altogether in Southeast Europe. One half of the planned capacity is for solar and wind power plants in Serbia.

Three months ago the company obtained a construction permit for a solar park of 270 MW on the territory of the city of Sremska Mitrovica in Serbia. The project includes a BESS of 36 MWh.

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December 27, 2025
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ENNA kicks off installation of its first solar power plant outside of Croatia

Romanian ENEVO Group has started the construction of a solar power plant for Croatia-based ENNA Group.

The site for the 87.5 MW photovoltaic plant is 25 kilometers southwest of Romania’s capital Bucharest. It is ENNA Group’s first major investment outside of Croatia.

Installation began after an EPC contract was signed in November between PVP Cepheus, owned by ENNA Solar, which is part of ENNA Group, and Romanian Enevo Group, ENNA said.

The Giurgiu solar power plant will be built in the Mihăilești area on 93 hectares. The expected annual electricity production is 133 GWh, the company added.

The investment is part of ENNA’s ten-year plan

The plant’s commercial operation and power delivery to the grid are scheduled for the first quarter of 2027. It is an investment of around EUR 60 million, according to the update.

“We are extremely pleased to announce the start of construction of our solar power plant just a few months after taking over the project. It is also a confirmation that we have chosen very reliable partners,” ENNA Group CEO Boštjan Napast stressed.

With this investment, the company is proving its commitment to a ten-year business plan with planned investments of EUR 330 million in solar energy in Croatia and abroad, he explained.

Under the EPC contract, Enevo is responsible for the entire solar power project – design, procurement, and construction.

Bureau Veritas is in charge of supervision services

Enevo Group Technical Director Radu Brașoveanu said it supports the expansion of the ENNA Group into the Romanian renewable energy market with this strategic solar investment.

Bureau Veritas will be in charge of supervision services in line with FIDIC standards, ENNA added.

Of note, the project in Romania was acquired in April.

It is implemented by ENNA Solar, which is part of the energy division of the ENNA Group. The parent company said it has around 50 MW in operational renewable energy plants or advanced projects, as well as about 350 MW in various stages of development.

ENNA is developing two geothermal power projects – Zagocha (Slatina) and Babina Greda.

In addition to energy, the company operates in the logistics sector.

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December 27, 2025
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North Macedonia’s ESM secures loans for investments in solar, hydro

North Macedonia’s power utility Elektrani na Severna Makedonija has secured EUR 97 million for the installation of the Bitola 3 solar power plant and revitalization of hydropower plants.

Elektrani na Severna Makedonija (ESM) said today it signed the contracts for a state guarantee and loans totaling EUR 97 million for two major energy projects.

This is an important step in strengthening North Macedonia’s energy transition, ESM added.

The company received EUR 87 million for the construction of the largest photovoltaic plant, Bitola 3. KfW allocated EUR 50 million, and the European Bank for Reconstruction and Development approved EUR 37 million.

The Hydropower Plants Revitalization Project is estimated at EUR 47.3 million

Another EUR 10 million from KfW will support the revitalization of ESM’s hydropower plants (HPPs), ESM explained.

According to the utility, the Hydropower Plants Revitalization Project, estimated at EUR 47.3 million and supported by a EUR 10 million EU grant, will increase annual hydropower generation by 50 GWh.

The agreements were signed by Minister of Finance Gordana Dimitrieska-Kochoska, EBRD representative Fatih Türkmenoğlu, KfW’s director for Kosovo* and North Macedonia Moritz Remé, and ESM CEO Lazo Uzunchev.

The ceremony was attended by Prime Minister Hristijan Mickoski and Minister of Energy, Mining and Mineral Resources Sanja Božinovska.

Uzunčev: We will increase domestic renewable capacity by over 200 MW

“With these capital investments, together with ESM, we are strengthening domestic energy production, ensuring stable electricity supply, and fostering sustainable economic development,” Gordana Dimitrieska-Kochoska underscored.

According to ESM CEO Lazo Uzunčev, the company’s strategic goals are being implemented with strong momentum.

“With ongoing solar and wind projects, including Bitola 3, we will increase domestic renewable capacity by over 200 MW in the next two to three years, while reducing CO₂ emissions by more than 260,000 tons annually,” he stressed.

Petra Drexler, Ambassador of Germany to North Macedonia, recalled that over the last years, Germany and the EU have continuously supported North Macedonia on its path toward a sustainable and resilient energy future.

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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.
December 27, 2025
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North Macedonia’s first annual construction plan for energy projects envisages EUR 1.4 billion in investments

The annual construction plan for energy projects for 2025 envisages the installation of power plants with a capacity of 1,265 MW, according to Minister of Energy, Mining and Mineral Resources Sanja Božinovska.

North Macedonia has introduced an annual construction plan for the energy projects with the new Law on Energy, adopted this year. The goal is to bring order to the approval and construction of new power plants.

According to the new regulation, October 1 was the deadline for investors to submit the documentation for their projects for the first annual plan. The review of all documents is in the final phase, according to Božinovska.

The construction of the power plants from the annual plan represents investments of around EUR 1.4 billion, Sanja Božinovska stressed, local media reported.

Solar power plants in the plan have the largest capacity – 812 MW, followed by wind farms  with 426 MW, biomass power plants with 11 MW, and hydropower plants with 15 MW.

Investors have submitted applications for the construction of energy facilities with a capacity of 10,950 MW

She recalled that for the first time, requests were received for the installation of standalone batteries and ones that would be co-located with power plants. The capacity of the standalone battery systems is 675 MW, and of the co-located is 93 MW, Božinovska added.

North Macedonia has received requests for the construction of energy facilities with a total capacity of 10,950 MW.

Investors submitted photovoltaic projects with a capacity of 4,758 MW and wind farms with a capacity of 1,697 MW. Investors were also interested in building gas-fired power plants.

Requests were also submitted for standalone battery energy storage systems (BESS) with a capacity of 2,573 MW and co-located with a capacity of 1,405 MW.

The annual plan should be adopted by January 31, 2026

Božinovska pointed out that 10,950 MW represents a large capacity. The transmission system operator (TSO) MEPSO will have to make a plan to strengthen the grid, she underlined.

The Government of North Macedonia should adopt the annual plan for the construction of energy facilities by January 31, 2026.

The minister recalled that the regulation for the construction of energy facilities has also been adopted. It precisely defines what every potential investor must submit, starting with a feasibility study, regardless of the type of facility, Bozinovska explained.

She said that the adoption of the law on renewable energy sources is expected in the first quarter of next year.

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December 19, 2025
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New round of talks between Montenegro and Masdar on strategic partnership

Representatives of the Government of Montenegro and Masdar discussed potential joint projects in the energy sector. The focus of the meeting was on solar energy, energy storage, and hydropower.

Minister of Energy and Mining of Montenegro Admir Šahmanović and the Minister of Public Works Majda Adžović met today at Villa Gorica in Montenegro’s capital Podgorica with Masdar CEO Mohamed Jameel Al Ramahi and his team.

It was the second meeting between Al Ramahi and Šahmanović in a short period. They met in early September.

The discussions now continued on top priority projects for the Government of Montenegro, ones that could be of mutual interest, according to the Ministry of Energy and Mining.

Priority should be given to projects that are the most technically advanced

Discussions will be intensified to define collaboration models, potential investments, and the selection of first projects to be implemented, the update reads.

Solar projects, including for floating solar power plants, alongside battery energy storage systems (BESS) and hydropower plants, have been identified as segments of special interest. These are also the areas where Masdar has significant engineering and technical experience, the ministry said.

montenegro masdar sahmanovic
Al Ramahi and Šahmanović (photo: Government of Montenegro/Saša Matić)

The two sides agreed to focus on projects that are the most technically advanced, environmentally sustainable, and aligned with the development of the power grid, to ensure their sustainable and efficient implementation.

Šahmanović: Montenegro’s strategic and long-term goal is to establish itself as a reliable and competitive player in the European energy market

Minister Šahmanović pointed out that the country’s strategic and long-term goal is to establish itself as a reliable and competitive player in the European energy market. He underscored that the development of energy infrastructure and renewable energy sources are among the government’s key priorities.

Officials participating in the meeting praised the planned construction of a second submarine cable line with Italy. It is an extremely wise and strategic investment that ensures Montenegro a stronger and more stable position in the European electricity market, they added.
Montenegro’s vision as an energy hub is fully aligned with the government’s development plans, Šahmanović stressed.

Minister of Public Works Majda Adžović highlighted the extensive experience of the United Arab Emirates in energy and infrastructure development in the public sector. It is of great importance for Montenegro’s activities in increasing renewable energy capacities, she added.

Masdar’s expert teams will continue technical talks with the management of EPCG and CGES

Masdar’s representatives have expressed readiness to continue technical discussions with the management of power utility Elektroprivreda Crne Gore (EPCG) and transmission system operator (TSO) Crnogorski Elektroprenosni Sistem (CGES).

The company’s expert teams will aim to identify priority and mature projects for joint implementation, the ministry said.

EPCG’s CEO Zdravko Dragaš and Ivan Mrvaljević, Executive Officer of EPCG’s Directorate for Development and Engineering, pointed out that the development of green energy is the company’s top priority.

A total of 200 MW in renewable energy projects are currently in development, they added.

Ivan Asanović, CEO of CGES, presented projects that are in the final stages of implementation.

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December 16, 2025
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Firms from Croatia, BiH, Serbia to build power line in North Macedonia

Croatia-based Dalekovod, Elnos from Bosnia and Herzegovina, and Serbian Kodar Energomontaža will jointly build electricity transmission infrastructure in North Macedonia.

Dalekovod said it signed a EUR 19.7 million contract with MEPSO, the transmission system operator of North Macedonia, as the lead member of a consortium that includes Elnos BL and Kodar Energomontaža.

The contracted works include the delivery and construction of a 400 kV power line from the 400/110 kV Bitola 2 substation, via the 400/110 kV Ohrid substation, to the North Macedonia – Albania border.

The project ensures long-term stability of the electricity system in the wider region

The new Ohrid substation is currently under construction, with Končar, another Croatian company, as contractor. Končar is the majority shareholder of Dalekovod since 2022.

The Croatian firm pointed out that the new power line in North Macedonia represents a significant infrastructure project ensuring long-term stability of the electricity system in the wider region.

Dalekovod: Strengthening position in the regional and European market

Construction is scheduled for completion by mid-2028.

Of note, all three companies are active on the territory of former Yugoslavia, as well as across Europe and even worldwide. The owners of Elnos and Kodar are individuals from Bosnia and Herzegovina and Serbia, respectively, while the largest shareholders of Dalekovod are the Government of Croatia and three foreign banks operating in the country.

Operations in the region, Europe, Africa

Dalekovod has subsidiaries in six countries, including Namibia. In October, the company concluded a EUR 100 million deal for the construction of a 400 kV power line in Sweden.

Elnos BL is part of Elnos Group based in Banja Luka, Bosnia and Herzegovina. The company, which recently marked a remarkable dual jubilee – 80 years of tradition and 30 years of modern business development, operates in 18 countries.

A week ago, it signed a contract with Power China Construction Group to build a connection to the transmission grid for the 300 MW Vetrozelena wind farm in Serbia.

Kodar Energomontaža, headquartered in Serbia’s capital Belgrade, has carried out numerous projects across Europe – from southeastern Balkans to Scandinavia, as well as in West Africa.

In March, the company inked a deal with Serbia’s transmission system operator Elektromreža Srbije (EMS) for the construction of a two-system 400 kV transmission line, part of the Trans-Balkan Electricity Corridor.

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December 16, 2025
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Energy system based on renewables is cheapest solution to achieve net zero by 2050 – study

A European energy system based on a high share of renewable energy is the cheapest scenario until 2050 for achieving the net-zero goal, when compared to an increased use of nuclear capacity, or hydrogen, or carbon capture and storage, and against a delayed energy transition, according to a study produced by Hitachi Energy for WindEurope.

Costs for each scenario include not only generation facilities, but investments in grids, storage and back-up systems, according to WindEurope.

The study has mapped out the total system costs of five energy scenarios. Four scenarios deliver net zero and the remaining one is for a slow transition, where Europe doesn’t meet its climate targets, wind power advocacy group said.

The difference between the cheapest net zero path (Renewables+) and the most expensive path (Slow Transition) is EUR 1.64 trillion, the study reveals.

eu energy system 2050 scenarios costs hitachi study

The study’s authors calculated the total societal cost of building, operating, and adapting to the required energy system across electricity, transport, heat, and industry to meet or fall short of the 2050 climate targets.

The total system costs have three major groups of expenses.

The first group are new infrastructure investments in generation assets, as well as in grid, hydrogen, storage and carbon capture and storage (CCS) infrastructure.

Operational expenses are represented by fuel and CO2 costs, while the third group are electrification and demand shift costs.

The Renewables+ scenario drastically lowers import dependency

The Renewables+ scenario achieves net zero by 2050 through a massive deployment of variable renewable energy, primarily wind and solar power, leading to high electrification across the energy mix.

The renewables share reaches 85% of total electricity and nearly 70% of total gross available energy. Dependency on imported energy fuels falls drastically from 71% in 2030 to just 22% in 2050, the report reads.

“As Europe looks ahead to 2050, it is revealing to think what our energy system looked like 25 years ago. Back in 2000 the share of wind and solar in Europe’s electricity was a combined 0.8%. It’s 30% today. And Europe’s emissions are down by nearly 1/3 compared to 2000 while the economy has grown 45%. Let’s build on this success,” WindEurope stressed.

It is an inception report for the Energy System Costs Study, a project commissioned by WindEurope.

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December 11, 2025
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Croatia drafts EUR 1.68 billion Social Climate Plan

Croatia has prepared a Social Climate Plan for the period 2026-2032, worth EUR 1.68 billion. It would introduce measures for the buildings and road transport sectors aimed at supporting households and small businesses.

The draft of Croatia’s Social Climate Plan is under public discussion, which will last until December 22.

The process of adopting the most important national instrument for protecting citizens from the adverse effects of climate transition and the introduction of the European Union’s Emissions Trading System 2 (EU ETS 2) has begun, the Ministry of Environmental Protection and Green Transition stressed.

The plan will be financed with EUR 1.26 billion from the EU’s Social Climate Fund, and the remainder from Croatia’s national budget. Essentially, all the funds are coming from the auctions of emission allowances in the EU and Croatia under the EU ETS 2. It is an expansion of the EU ETS to the buildings sector (heating and cooling) and road transport.

The EU established the Social Climate Fund in May 2023 to protect households and small businesses

The expansion could increase the costs of heating, cooling, and transport. In May 2023, the EU established the Social Climate Fund to protect low-income households, micro enterprises, and transport users that could be affected by the cost increase.

The measures and investments also contribute to the implementation of the goals of the National Energy and Climate Plan (NECP).

The Social Climate Plan allocates EUR 658.1 million (39%) for the buildings sector, and EUR 958.4 million (57%) for road transport. Technical assistance is the third component, with EUR 42 million (2.5%).

The measures planned for the buildings sector include support for the establishment of energy communities and subsidies for the energy renovation of family homes. In the road transport sector, the plan envisages investments in cycling, on-demand mobility services, zero-emission vehicles, and railway infrastructure.

Vučković: Restoration planned for 180 kilometers of bike trails

croatia social climate policy plan EU ets 2 marija vuckovic plenkovic
Photo: Government of Croatia

​While presenting the draft plan at a session of the National Council for Sustainable Development, Minister of Environmental Protection and Green Transition Marija Vučković said it identifies two groups: the energy poor or vulnerable, and transport poor or vulnerable.

“The plan provides for 10 measures, four of which relate to so-called stationary or energy poverty, and the remaining six to achieving affordable and favorable mobility and reducing the risk of transport poverty,” she explained.

According to the ministry, the plan provides for the renovation of 180 kilometers of bicycle paths, 80 kilometers of railway lines, as well as the procurement of 30 electric trains, 80 electric buses, and 3,000 electric cars.

Prime Minister Andrej Plenković stressed that the plan isn’t just a technical and administrative document, arguing that it determines what Croatia would become in ten, twenty, and fifty years.

“And we want a Croatia that is economically strong, socially just, and sovereign,” Plenković underlined.

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December 3, 2025
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Econergy secures financing for 87 MW Oradea solar plant in Romania

Econergy Renewable Energy has signed a EUR 40.5 million project finance agreement with UniCredit Bank for its 87 MW Oradea solar power plant in the Crișana region in north-west Romania.

The Oradea photovoltaic facility has been fully connected to the grid since August 2025, and is generating revenues, according to Israel-based Econergy.

The proceeds will be used for various purposes including refinancing of the loans spent to construct the power plant, the company explained.

Within a strategy to hybridize its Romanian solar portfolio, Econergy plans to add a 68 MW BESS component at the Oradea site.

It is the second project finance agreement secured with UniCredit

The expected investment in energy storage is about EUR 21 million, with an estimated annual contribution of EUR 8.4 million in revenues and EUR 6.7 million in EBITDA, based on the first five full operating years, the update reads.

The company said it is its second project finance agreement secured with UniCredit.

Econergy Group is operating in key European markets, including Germany, the UK, Italy, Spain, Romania, Poland, and Greece. It develops photovoltaic, wind, and energy storage projects.

The current project pipeline exceeds 14 GW, according to the company’s website.

Econergy is the owner of the largest PV facility in Romania

The company generates revenue by selling electricity, earning development and operation fees, and selling projects at various stages of development.

Of note, Econergy is the owner of the largest PV facility in Romania. In October it agreed to buy out Nofar’s 50% stake in the 155 MW Rătești solar power plant. The firm plans to add a 120 MW BESS.

Econergy has four PV plants in Romania. With the inauguration of Oradea, the company’s operational and ready-to-connect capacity in the country has reached 447 MW. It is building another 788 MW and expects to start the construction of 559 MW more by the end of 2025.

The project was developed with Phoenix Holdings.

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