May 6, 2025
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Croatia discusses installation of small modular reactors with US

Croatian and United States officials have discussed the possibilities for energy cooperation to diversify the energy supply in Central and Southeastern Europe. Croatia has expressed particular interest in joint work in the nuclear energy sector.

On the sidelines of the 10th summit meeting of the Three Seas Initiative, held in Warsaw, Croatian Prime Minister Andrej Plenković met with United States Secretary of Energy Chris Wright. Minister of Economy Ante Šušnjar attended the discussion as well and separately sat with a delegation from the Nuclear Energy Institute, based in Washington.

Of note, at the same event, Wright invited Central European countries to abandon the European Union’s energy and climate policy and join his country on “team energy freedom.”

Talks between the two delegations covered various topics, including the expansion of the liquefied natural gas (LNG) terminal on the island of Krk, development of gas infrastructure toward Hungary and Slovenia, and strengthening the security of energy supply in Central and Southeastern Europe.

The two sides have discussed the enhancement of energy independence for Croatia and Southeastern Europe

According to Croatia’s Ministry of Economy, representatives of the two countries exchanged views on further opportunities for US involvement in projects focused on diversifying energy sources and strengthening the region’s energy resilience.

Croatian officials highlighted the importance of ongoing cooperation with the US, particularly regarding the diversification of energy supply and the enhancement of energy independence for Croatia and Southeastern Europe, the ministry underlined.

Maria Korsnick and Ante Šušnjar (photo: Government of Croatia)

Minister Šušnjar and Maria Korsnick, CEO of the Nuclear Energy Institute, discussed potential cooperation in the development of nuclear energy, particularly the application of small modular reactor (SMR) technology.

Šušnjar: SMRs is an alternative to existing fossil fuel sources

Šušnjar noted that nuclear energy is increasingly vital for achieving decarbonization and ensuring a stable electricity supply. Croatia has established a workgroup to analyze the potential use of nuclear energy including SMRs as an alternative to existing fossil fuel sources, he added.

“We are interested in partnering with companies that offer advanced, safe, and cost-effective solutions. The Nuclear Energy Institute is a key partner in that process,” Šušnjar said.

Croatia has been expressing interest for the past several years in the Krško 2 nuclear power project in neighbouring Slovenia.

However, Minister Šušnjar recently said his country would focus on developing its own nuclear power capabilities including SMRs.

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May 2, 2025
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US interested in pumped storage hydropower projects in Romania, Bulgaria

Minister of Energy of Romania Sebastian Burduja and Minister of Energy of Bulgaria Zhecho Stankov both met with United States Secretary of Energy Chris Wright and discussed bilateral cooperation in projects in their countries including for pumped storage hydropower plants and nuclear power plants. Burduja said studies would be conducted with American support for a string of pumped storage hydroelectric facilities throughout the Carpathians.

At the sidelines of the 2025 Three Seas Business Forum in Warsaw, Minister of Energy Sebastian Burduja held a meeting with US Secretary of Energy Chris Wright about ongoing strategic projects in which American companies are involved. He revealed that state-owned power utility Hidroelectrica has signed a memorandum with the National Renewable Energy Laboratory (NREL) of the United States on cooperation in pumped storage hydropower projects.

The initiative will put Romania “at the forefront of Europe” as it will store green energy throughout the Carpathian mountain range, according to Burduja. Prefeasibility and feasibility studies will be developed with American support, he added.

“In this era of energy transition, we need pragmatic and effective solutions that ensure secure, affordable, and clean energy – in that order of priorities. Romania and the United States share a vision for a common energy future, and our collaboration will significantly contribute to achieving this goal,” the minister stated.

Significant involvement of US companies in strategic energy projects in Romania

Burduja highlighted NuScale’s project for small modular reactors (SMRs) in Doicești and the contract signed with Fluor and Sargent and Lundy for units 3 and 4 at the Cernavodă nuclear power plant. Fluor is also participating in a project for a high-voltage direct current interconnector (HVDC), he pointed out.

The lack of interconnections is bolstering energy prices

The minister noted that American partners are involved in a project for mapping and utilizing geothermal sources for district heating in Bucharest, with support from the European Union’s Modernisation Fund. Namely, Electrocentrale Bucharest (ELCEN) has established cooperation with US-based SAGE Geosystems

Burduja recalled that American platform Transocean Barents is drilling for gas in the Neptun Deep project in the Black Sea.

The Romanian ministry said the two officials discussed the rise of energy prices, attributing it to the lack of interconnections and the challenge of closing coal-fired power plants without viable alternatives. They also touched upon the costs of carbon dioxide certificates and how they affect competitiveness, the announcement reads.

Stankov, Wright discuss possibility of building AI ‘gigafactories’

Bulgarian Minister of Energy Zhecho Stankov separately met with US Secretary of Energy Chris Wright. Bulgaria will be the first in Europe to deploy the American AP1000 technology, Stankov claimed.

The country is preparing to build two more units at the Kozloduy nuclear power plant, in a deal with Westinghouse Electric. State-owned Bulgarian Energy Holding is controlling the project.

The two officials discussed the possibility of building “artificial intelligence gigafactories” to complement the nuclear infrastructure and promote innovation and employment, the ministry said. In addition, Stankov and Wright spoke about projects for new pumped storage hydropower and the exploration of oil and natural gas in the Black Sea.

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April 25, 2025
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Turkey to manufacture green hydrogen, nuclear, CCS equipment

The 2030 Industry and Technology Strategy includes setting up industrial facilities in Turkey for nuclear energy, green hydrogen, battery storage and carbon capture and storage (CCS). The country is planning to establish a value chain for critical raw materials. The government vowed to support the development of semiconductor technology, autonomous and flying vehicles and cybersecurity solutions, alongside innovations for electric vehicles and solar and wind power.

With its recently unveiled 2030 Industry and Technology Strategy, Turkey announced the ambition to upgrade its industrial production to one of the most advanced in the world. As Russia’s Rosatom is completing the country’s first nuclear reactor in Akkuyu, the government is planning to develop its own technology in the segment.

The strategy involves setting up industrial clusters for equipment and infrastructure. Among the possible technologies are molten salt reactors. The Scientific and Technological Research Council of Türkiye (TÜBİTAK), Turkish Energy, Nuclear and Mineral Research Agency (TENMAK) and Istanbul Technical University (İTÜ) are tasked with establishing a nuclear tech park.

Green hydrogen mostly needed for decarbonizing hard-to-abate industrial production

TÜBİTAK is responsible for developing domestic electrolyzers as well. The national hydrogen program is set to bring support for integrating the production of green hydrogen, storage, transportation and consumption. The last of the four is especially focused on energy-intensive industries such as steel, petrochemicals and fertilizers.

Another segment that would get incentives is the use of hydrogen in fuel cell vehicles including heavy vehicles. The strategy envisages setting up pilot zones for green hydrogen production, with electrolyzers powered by wind and solar energy.

Turkey has high ambitions for high-tech exports

Turkey has revealed the goal of tripling its high-tech exports to USD 30 billion by the end of the decade. It is part of an ambition to lift industrial exports to USD 400 billion from last year’s USD 247 billion. At the same time, the government’s target for the overall valuation of domestic tech startups is USD 100 billion.

The 2030 Industry and Technology Strategy has other chapters, too, like carbon capture, utilization and storage (CCUS or just CCS), access to critical raw materials, semiconductor and battery manufacturing and cybersecurity. Officials vowed to continue prioritizing domestic electric vehicles, but with investments in autonomous operation systems and even flying cars.

Cybersecurity solar and wind turbine technologies. Turkey apparently remains dedicated to expanding the industrial base for solar panels and wind turbines as well.

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April 23, 2025
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Bulgaria canceling sale of equipment for its Belene nuclear plant to Ukraine

Bulgaria’s minority government decided to call off the planned sale of equipment from the failed Belene nuclear power project to Ukraine’s Energoatom and reactivate the plans. There is an idea to attract investments in data centers that could be supplied with the electricity. At the same time, state-owned Bulgarian Energy Holding is preparing to build two more reactors at the existing Kozloduy nuclear power plant.

The chronic political crisis in Bulgaria, lasting more than four years, has led to another controversy with regard to the Belene nuclear power project. The investment was canceled and restarted several times since the Russian equipment arrived in the late 1980s.

The National Assembly voted in 2023 to start negotiations on the proposed sale to Ukrainian state-owned Energoatom for its Khmelnytsky nuclear power project. However, last week the representatives of the ruling coalition said they decided to keep the equipment.

Deputy Prime Minister Atanas Zafirov, head of the Bulgarian Socialist Party (BSP), said nuclear energy development is the right way forward for the country and its people. “Electricity prices are rising around the world. The world is facing continued energy insecurity, and nuclear power is a stable and predictable source. We have the site, we have the reactors, we have the experts – everything is in our hands,” he stated.

Borissov wants Americans in data center project

BSP is a junior partner in the minority government, which came into office in January. Socialists have been pushing to cancel the equipment sale from earlier, but now the largest party completely changed its stance. Boyko Borissov, the leader of GERB – Citizens for European Development of Bulgaria and former prime minister, explained that large technology companies are interested in building data centers for artificial intelligence.

Experts have valued the stored equipment at EUR 734 million

The idea is to attract such an investment and use the Russian reactors in Belene to power it, Kapital reported. If it doesn’t work out, the equipment can be sold. According to the media outlet, Borissov is planning to discuss the matter with “the Americans.”

Of note, Prime Minister Rosen Zhelyazkov is from GERB. The article adds that experts valued the assets in storage at EUR 734 million, of which the reactors are worth EUR 409 million. Bulgaria’s parliament has set the lowest price at EUR 602 million. Now it will need to vote again to block the potential deal.

Obsolete Belene project would face huge funding challenge

The news website attributed Borissov’s turnaround to the new geopolitical situation between the United States, Ukraine and Russia. It added that the project is outdated and that it wouldn’t be completed for another 20 years anyway. There is also the issue of funding: the investment requires at least EUR 10.2 billion more and another EUR 1.53 billion for the transmission network and other infrastructure.

Moreover, the same or similar challenges were there five and ten years ago as well.

Most importantly, Bulgaria is already preparing to build two more units at the Kozloduy nuclear power plant, in cooperation with  Westinghouse Electric. State-owned Bulgarian Energy Holding is controlling the project.

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April 14, 2025
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Belgrade Energy Forum 2025 – 50 speakers at eight panels to track pace of SEE energy transition

The agenda of the third Belgrade Energy Forum, taking place on May 14-15, has been finalized with the addition of further prominent energy experts and companies. The conference, organized by Southeast Europe’s leading energy news portal, Balkan Green Energy News, will feature eight panels covering key topics in the energy sector, with an impressive lineup of speakers. Make sure you register on time via this link.

The Belgrade Energy Forum will once again be a meeting place for representatives of regional and international institutions and organizations, as well as the business community from across the region, Europe, and the world.

Eight panels featuring more than 50 speakers will offer an overview of the current challenges in the energy sector. Conference participants will hear in-depth analyses of the current situation, but also projections for the future. The thread that connects everything at this year’s BEF is digitalization – it permeates energy production, consumption, and storage and allows enough flexibility for the stable functioning of the energy systems of the future, where renewable energy will dominate.

Chikán: Electricity knows no borders

One of the key speakers at the conference, Alteo Group CEO Chikán Attila, will lead the company’s high-level delegation. Alteo has recently launched a regional expansion drive, aiming to establish a green platform of up to 2 GW in energy production, including operation, software, maintenance, storage, and waste management.

The Hungarian company primarily targets its home market, Slovakia, Croatia, and Serbia.

“Electricity knows no borders, therefore partnerships and collaborations among energy market players are essential, even at the regional level. Such cooperation is vital to ensuring the security and reliability of electricity supply, facilitating the integration of renewable energy sources, and providing essential digital solutions, supported by expertise and professional know-how,” Chikán stressed.

Decarbonization strategies for power generation in Southeast Europe 2040/2050

  • Dejan Paravan, CEO, GEN Energija
  • Dušan Živković, CEO, EPS
  • Eric Scotto, CEO, AKUO
  • Milutin Đukanović, Chairman, EPCG Board of Directors
  • Neda Lazendić, Country Manager, WV-International

Although at the heart of national energy systems, state-owned power utilities are faced with an environment that has changed and continues to change rapidly. The key shift is the entry of private capital into electricity production through the construction of solar power plants and wind farms.

The energy transition, at this stage, requires cooperation between state power utilities and private companies. With decarbonization as the main objective, the key challenge lies in choosing appropriate strategies and electricity generation technologies.

Moderating the panel will be Dražen Jakšić, Director of the Energy Institute Hrvoje Požar (EIHP).

“The transition to a low-carbon energy system is a key challenge for our region, demanding innovation, investment, and cooperation. As a sponsor of the Belgrade Energy Forum, EIHP is committed to fostering dialogue and driving sustainable energy solutions. I look forward to an insightful discussion,” he stressed.

Jakšić: The transition to a low-carbon energy system is a key challenge for our region, demanding innovation, investment, and cooperation

In recent years, nuclear energy has emerged as a possible alternative. There is hardly a better interlocutor on this topic in the region than Dejan Paravan, the top man of GEN Energija, the Slovenian company developing the Krško 2 nuclear power plant project.

Dušan Živković, CEO of Elektroprivreda Srbije (EPS), will tell us about the Serbian power utility’s plans when it comes to nuclear energy.

Živković: Without decarbonization, the region’s energy sector has no future

“Without decarbonization, there is no future for the region’s energy sector, and that is the biggest challenge ahead of us. It is essential to accelerate decisions and ensure sustainable project financing mechanisms that will provide energy security for every country and power utility in the decades to come. By investing in existing capacities and new renewable energy projects, EPS, as the biggest utility in the region, will make its own contribution to energy security. That’s why we have initiated a transformation process – because we need to be more profitable, more efficient, and fully prepared to tackle any challenge,” Živković pointed out.

The energy transition, in his words, is the path EPS has chosen, and all its plans will align with that goal, based on the belief that the diversification of energy sources and new technologies are essential for achieving it. “These are just some of the key messages I will share with the participants of this year’s BEF,” said Živković.

Eric Scotto, co-founder and CEO of French company Akuo, will share the latest information on the energy transition from across the globe.

The company’s portfolio consists of 1.9 GW of power plants in operation and under construction, with a further 12 GW in the pipeline in more than 20 countries around the world, including a number of countries in the Southeast Europe region.

Integration of Western Balkans electricity markets into internal European market through market coupling

  • Anže Predovnik, Director, ADEX Group
  • Ivan Asanović, Executive Director, CGES
  • Marko Bislimoski, President, Energy, Water Services and Municipal Waste Management Services Regulatory Commission of the Republic of North Macedonia
  • Zoran Vujasinović, Policy Officer, ACER

The integration of the Western Balkans’ electricity markets with the European Union (EU) markets is a process that deserves much greater public attention than it currently receives. It is safe to say that its true importance will become evident only once it is completed.

Full integration will unlock significant synergies, maximizing the benefits of a unified market by enhancing supply security, accelerating the integration of renewable energy sources, and fostering greater competition and transparency.

Moderator Dejan Stojčevski, CTO of the SEEPEX power exchange, says the panel seeks to encourage dialogue on the importance of cross-border collaboration and market efficiency in bolstering energy security and sustainability in the region.

Bislimoski: The time for inspiring speeches is over. Geopolitical developments demand action – now!

Since market integration is largely the job of regulators, the challenges they face will be analyzed by Marko Bislimoski, president of North Macedonia’s Energy and Water Services Regulatory Commission (RKE).

He says that three things are essential for the regional integration of electricity markets into a single European market: investment, investment, and nothing but investment. In his words, the energy crisis demonstrated that limitations become a reality when governments fail to prioritize the implementation of key energy infrastructure capacities in their budgets.

“This past winter, the region faced the highest electricity prices compared to the rest of Europe. Why? Because the implementation of energy investments is not just a ribbon-cutting ceremony. Today, more than ever before, the countries of the former Yugoslavia must demonstrate maturity. These are the years when energy independence will be built through action. The time for inspiring speeches is over. Geopolitical developments demand action – now!” he stressed.

Energy revolution underway – uniting efforts to deliver green, intelligent and sustainable energy solutions

  • Aleš Prešern, VP, Head of Southeast Europe, Siemens Energy
  • Maja Turković, SVP, CWP Europe
  • Ann-Catherine de Tourtier, Managing Director Mediterranean, Nordex Group

As much as contesting the energy transition may be futile, there are still those who find such a view meaningful, especially in light of certain global political developments. That’s why it is important to give the floor to some of the transition leaders and let them testify that an energy revolution is indeed underway in the region.

The panel’s moderator Mirza Kušljugić – professor, energy expert, and one of the founders of Bosnia and Herzegovina’s Centre for Sustainable Energy Transition Centre (RESET) – goes one step further to show that change is not only happening but also accelerating.

“The key words are a new energy paradigm driven by the four Ds – decarbonization, digitalization, decentralization, and democratization. But now we also have another D: disruption, or radical change in the industry and market caused by technological innovation. Of course, we must focus the discussion – from global processes (China, the US, the EU, the Global South) to where the region stands in all of this,” Kušljugić points out, providing a perfect introduction to the panel.

Turković: It’s more important than ever to have open discussions about real solutions

Aleš Prešern, Vice President and Head of Southeast Europe at Siemens Energy, has worked in the energy sector for more than 20 years. He recalls that digitalization is key, along with grid resilience and electricity transmission.

With nearly 100,000 employees in more than 90 countries, Siemens Energy develops the energy systems of the future, ensuring that the growing energy demand of the global community is met reliably and sustainably. The technologies created in the company’s research departments and factories drive the energy transition and provide the base for one sixth of the world’s electricity generation.

As a leader in renewable energy development, CWP is actively working on several large-scale projects across the SEE region with a total capacity exceeding 7 GW, positioning the company at the forefront of the region’s energy transition. Given its global expertise and insights into the regional energy market, CWP’s contribution to this year’s conference will be invaluable.

Maja Turković, Executive Vice President of CWP Europe, says that BEF 2025 is a key gathering of leading experts driving the energy transition in Southeast Europe.

“As this shift gains momentum, it’s more important than ever to have open, action-driven discussions about real solutions to the challenges and opportunities ahead,” says Turković.

PPAs as a key to renewable energy growth in SEE

  • Nikola Gazdov, Chairman, Association for production, storage and trading of electricity – APSTE
  • Natalija Ljubić, Manager PPA & BESS Transactions, Pexapark
  • Ivana Đurović, Category Manager Renewable Energy, Knauf Group

Power Purchase Agreements (PPAs) are, like flexibility, a tool for fixing the imperfections of renewable energy sources, and they are recognized as a key mechanism within the new electricity market design. They ensure price stability, attract new investment, and accelerate the decarbonization of industry.

Is the region ready for PPAs? What are the dominant models? What is the current market practice? How are PPAs viewed by financial institutions? What do they offer to end consumers and what to investors in new power plants? Answers to these questions will be sought at the panel moderated by Mislav Slade-Šilović, Energy, Utilities & Resources Consulting Leader for Southeast Europe and member of the core PPA team at consultancy PwC.

Experience with PPAs for more than 500 GWh of electricity

Slade-Šilović’s experience in concluding PPAs for the production and consumption of over 500 GWh of electricity per year in the SEE region will certainly be of help.

Nikola Gazdov, Chairman of Bulgaria’s association for electricity production, storage, and trading (APSTE) and member of the Board of Directors of the European solar industry association SolarPower Europe, has no shortage of experience either. As CEO of three companies – Enery Element GmbH, Element Power Group, and Renergy – he is involved in the development of a large number of projects.

Pexapark, a company that provides logistics to businesses in the renewable energy market, is synonymous with PPAs in Europe. Natalija Ljubić is the Manager for PPA and BESS Transactions at Pexapark, which has helped conclude contracts for facilities with a combined capacity exceeding 35 GW.

The views of electricity buyers – without whom there would be no PPAs – will be conveyed by Ivana Đurović, Category Manager for Renewable Energy at Knauf Group.

Market flexibility: the backbone of a resilient energy system

  • Roman Bernard, CEO, NGEN
  • Luka Renko, COO, KOER
  • Alteo Group representative
  • Nikolaj Candellari, Project Manager and Market Intelligence, CyberGrid
  • Marko Zarić, EMS

Moderating the panel will be Elena Boškov Kovač, co-founder and CEO of Blueprint Energy Solutions, and a leading voice on market flexibility in Europe.

She will host representatives of the sector’s leading companies: NGEN, Alteo, KOER, CyberGrid, as well as Serbia’s transmission system operator Elektromreža Srbije (EMS).

“Excited to moderate a high-impact panel on ‘Market Flexibility: The Backbone of a Resilient Energy System’ at the Belgrade Energy Forum 2025,” says Boškov Kovač, whose work has shaped smart grid strategies and digitalization innovation agendas across the EU and under ETIP SNET.

As Europe accelerates its shift to renewables, market flexibility is emerging as the cornerstone of reliable, affordable, and decarbonized energy systems. With the European flexibility market promising to unlock over EUR 20 billion in savings, this session will explore how digital tools, flexible assets, and new market designs are unlocking value and resilience across the grid.

Slovenia’s NGEN is the technology sponsor of BEF 2025

Slovenian energy company NGEN, the technology sponsor of the conference, has managed to establish itself as a significant player in European markets in just five years of operation and is now ready to enter the Western Balkans’ markets.

Specializing in premium battery storage systems and smart energy solutions, the company is developing systems with a total capacity of 1.6 GWh in European countries. Its founder, Roman Bernard, will be speaking at the panel.

Also taking part in the panel will be Luka Renko, COO of KOER, a pioneer in virtual power plants in the region.

Rounding off the lineup of exceptional panelists will be Nikolaj Candellari, who is responsible for project management at CyberGrid. The software company was acquired a few years ago by Austria’s EVN, one of the first to demonstrate that greater integration of renewable energy sources, battery storage, and prosumers is not possible without digitalization and software solutions.

In a nutshell, this innovative company stands for the digitalization of the energy sector, with a focus on virtual power plants.

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April 11, 2025
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Ember: Warming’s 2024 share of global power demand rise was covered with fossil fuels

According to Ember’s new figures, renewable energy sources met almost three quarters of last year’s increase in the world’s electricity demand. Together with nuclear energy, they would have covered almost the entire jump if it wasn’t for the share attributed to the annual increase in temperatures. Looking at it the other way around, the need for additional cooling accounted for the overwhelming part of the rise in fossil fuel use, and at the same time the resulting additional emissions contributed to the acceleration of global warming.

The share of low-carbon sources rose to a historic 40.9% of global output in 2024. Photovoltaics made up 55.2% of renewable electricity production growth. Hungary, Greece and Bulgaria are among the world’s strongest solar power producers while Turkey has one of the highest power demand growth rates.

Taken together, wind and solar power, hydroelectric plants, other renewables and nuclear energy amounted to 40.9% of global electricity generation in 2024. One year earlier, the level was 39.4%. Last year’s share was the highest since the 1940s, when the global electricity system was fifty times smaller, Ember said in its Global Electricity Review 2025. 

At the time, there was only hydropower and some biomass on the list. Solar power has been the main factor of change over the past several years, and so has China.

Global electricity demand jumped 4% last year or 1.17 PWh, amplified by heatwaves, and reached an all-time high of 30.9 PWh. Periods of higher temperatures in another hottest year ever drove up demand for cooling. The relative increase in 2023 was 2.6%.

Hydropower remained the largest source of low-carbon electricity (14.3%), followed by nuclear (9%). Wind (8.1%) and photovoltaics (6.9%)  are rapidly gaining ground and together they overtook hydro in 2024, while nuclear’s share reached a 45-year low.

Renewables meet 73.2% of growth in world power demand

Renewable power sources accounted for 858 TWh of added output. The previous record of 577 TWh was set two years earlier, as hydropower dropped in 2023, also mostly because of heat.

EVs, heat pumps, data centers and other new drivers of power demand more than doubled their share in annual growth in five years

Renewables met 73.2% of growth in demand and nuclear energy covered 5.9%. Together, they nearly accounted for all growth except the temperature effects, and the rest was from fossil fuels.

Interestingly, looking at it the other way around, the need for additional cooling accounted for the overwhelming part of the rise in fossil fuel use. Of course, the resulting additional emissions contributed to the acceleration of global warming.

Fossil fuel use would have remained almost unchanged if temperatures didn’t grow, the think tank claims. Global power sector emissions rose by 1.6% to a new all-time high of 14.6 billion tonnes of CO2.

But at least the demand for cooling during the day mostly runs in parallel to solar power production. Moreover, the pace of energy storage capacity increase still isn’t keeping up with the growing need to balance photovoltaics and wind power, as they depend on the weather.

However, the update focuses only on one indicator, within the annual growth in power demand. The system is much more complex and fossil fuels weren’t only and directly used for cooling. There is also the matter of distribution across segments from the entire output.

New drivers of demand such as electric vehicles, heat pumps and data centers contributed roughly the same to annual demand growth as the temperature effect, but more than twice as much as they did five years before.

China nearing one third of global electricity demand

China’s electricity demand surged 6.6% or by 623 TWh, which accounted for more than half of the global rise. Its 10.07 PWh in total was 32.6% of the overall figure. Five years before the country was at 28%. Renewables and nuclear energy covered 81% of its demand increase.

China’s per capita electricity use overtook France’s for the first time last year

The United States is number two overall, with 4.4 PWh in 2024 or 14.3% of the global level. China’s per capita electricity use overtook France’s for the first time, and was five times that of India’s.

Turkey’s growth rate, 5.6%, was among the highest on the planet. In absolute terms, demand jumped 18 TWh.

Photovoltaics beat coal power in 2024 in EU

Solar power production spiked by a stunning 29%, which was a six-year high, or by 474 TWh. Photovoltaics were the largest segment of new electricity for the third year in a row and grew the fastest for the 20th straight year. Total output reached 2.13 PWh.

Global solar power capacity reached 1 TW in 2022 after decades of growth, but it surpassed 2 TW only two years later. China amounted to 53% of the increase in PV generation in 2024.

Solar power topped coal power output in the European Union for the first time. As for the share of domestic production, Hungary tops the global list, with 25%. Chile is second at 22%, and Greece is third and best, with 22%, among the countries that Balkan Green Energy News mainly tracks.

Bulgaria is also in the main chart, coming in ninth on a global scale, with 14.4%.

As for solar power production per capita, Australia leads by far with 1.87 MWh, followed by the United Arab Emirates (1.29 MWh) and Greece, also at 1.29 MWh on a rounded basis. Hungary is seventh in the category, at 971 kWh per person.

In the rest of Southeastern Europe, Turkey sticks out as tenth on the planet in hydropower output, at 75 TWh. Albania has the fourth-highest share of domestic production, 97%.

Notably, Kosovo* tops the list of coal’s share in electricity production, with 92%. Bosnia and Herzegovina and Serbia still seem pretty much stuck with the technology. They are fifth and sixth, respectively, both at 63% on a rounded basis.

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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.
April 7, 2025
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Solar, nuclear lower Europe’s power prices by 30% in March

Electricity generation in solar and nuclear power plants, combined with higher temperatures, lowered the price of electricity in Europe in March by almost 30% on a monthly basis, according to Eurelectric’s data.

Photovoltaics broke the record in power generation in March for the third consecutive month, Eurelectric said, adding that they accounted for more than 10% of Europe’s electricity mix.

The boost in solar power, combined with improved nuclear generation and milder weather, decreased power prices to EUR 90 per MWh from EUR 126 per MWh, registered in February, and EUR 112 per MWh in January.

The organization attributed high prices in the previous two months to low wind generation, increased power demand and the highest gas prices in two years. Ongoing global geopolitical tensions and outages in Norway exerted upward pressure on the cost of gas while limited storage and flexibility sources forced a heavier reliance on gas to supply electricity.

65 GW of solar was added in 2024

Eurelectric said solar rescued Europe with sunnier days and the rise in capacity, with 65 GW added in 2024 alone. As a result, the share of renewables in the power mix was 15 percentage points higher in March compared to February, though one point lower than in March 2024.

Nuclear energy contributed to the decrease in prices with the rise of its share in power production from 24% in March 2024 to last month’s 26% after a few French nuclear reactors came back online, Eurelectric said.

Nevertheless, the average day-ahead electricity price in the first quarter of 2025 was 51% higher than in the first three months of last year. The surge was primarily driven by higher average gas prices, which grew by 33% in the same period, according to the data.

Ruby: Europe remains too vulnerable to fossil fuel price fluctuations

The organization’s Secretary General Kristian Ruby stressed that Europe remains too vulnerable to fossil fuel price fluctuations, especially during periods of high electricity demand. “To counter this, we must speed up the roll-out of demand side response and storage technologies and further incentivise the use of long-term power purchase agreements,” he noted.

Eurelectric sees solutions in capacity mechanisms and flexibility-supporting schemes. Flexibility is also crucial when it comes to balancing negative prices, which are occurring more frequently. As solar generation rose in March, negative prices made a comeback, particularly in Nordic and Western European countries, the organization of the European electricity industry pointed out.

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