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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July 30, 2025
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Two small hydropower turbines to be integrated into Sofia water supply lines

Veolia received a green light from Bulgaria’s capital city to install two hydropower generators within the city’s major water supply lines. The system is envisaged to generate 12 GWh of electricity per year.

Mostly owned by local authorities and underfunded, water and sewerage utilities in Southeastern Europe are struggling to provide enough drinking water and even to remain financially stable. They are under pressure from the effects of global warming and volatile electricity costs. After a water supply firm in Bansko in southwestern Bulgaria installed a miniature in-pipe hydropower generator, the solution sparked interest throughout the country.

Sofiyska voda, Veolia’s subsidiary that produces drinking water and manages wastewater for the capital city, is about to deploy the technology. In-pipe hydropower systems could play a part in decarbonization and energy efficiency as they are simple and don’t harm the environment. Such devices utilize the flowing water’s kinetic and potential energy and excess pressure – otherwise it would be released in the form of heat through a valve and wasted.

Making Sofia sustainable, energy-efficient, modern European city

Sofia Mayor Vasil Terziev and Country Director of Veolia for Bulgaria, Greece and Albania Francois Debergh signed a memorandum of cooperation for the construction of two small hydropower plants along the city’s trunk water mains.

Earlier, the Sofia Municipal Council approved the findings of a joint working group that explored the possibilities for the investment.

“Our goal is to work consistently for making Sofia a sustainable, energy-efficient and modern European city. One of the key priorities in our vision for development is the use of renewable energy sources. Therefore, among the important fields in which we are working is the construction of small hydropower plants that will allow our city to generate clean electricity locally – with care for nature,” said Mayor Vasil Terziev.

Sofia has been planning in-pipe hydroelectric systems for more than two decades

Such facilities will help reduce the carbon footprint of the capital city and improve the management of water resources, according to the company and the Sofia Municipality, also known as Stolichna (capital) Municipality. They added that renewable energy investments are contributing to the city’s efforts toward energy independence and climate neutrality.

“The project is an example of how the existing infrastructure can be best utilized for clean energy production. After commissioning, the plants will produce approximately 12 GWh of renewable energy per year, which will account for additional annual savings of over 8,000 tonnes of CO2 emissions. The memorandum is fully aligned with Sofia’s commitments to climate neutrality and Veolia’s participation in the NetZeroCities initiative,” Debergh stated.

Sofiyska voda utility striving for energy independence

Sofiyska voda’s wastewater treatment plant in Kubratovo has been energy independent since 2015. It produces biogas from the sludge separated in the process. The parent company stressed that a pending solar power project would make Sofiyska voda the first energy-neutral water supply and sewerage operator in the region, among only a few on the global scale.

The local authority in Sofia recalled there was an idea already in 2003 for eight hydropower facilities on the water supply lines.

Another alternative hydroelectric project was recently unveiled in northwestern Bulgaria. With the ambition to build several hydroelectric plants on pontoons on the Danube river, a local company intends to install a 20 kW pilot facility in Vidin.

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July 30, 2025
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Turkish renewables firm to drill for geothermal lithium

Margün Energy intends to search for lithium in geothermal waters in Seferihisar in western Turkey, where it took over a 12 MW geothermal power plant. It also launched a project to add a photovoltaic unit of 5.4 MW to the existing facility and create a hybrid power plant.

Turkey, the fourth in the world in geothermal power capacity, also has significant potential for lithium extraction. The production of the mineral used in batteries can increase the cost-effectiveness of geothermal energy projects. Margün Energy, listed at the Istanbul Stock Exchange since 2021, said it would conduct exploration works on 3,125 hectares in Izmir province.

The company recently bought a geothermal power plant in the area for USD 16 million from RSC Elektrik. The 12 MW facility is in Kavakdere in Seferihisar district. Margün Energy denied speculation that it would mine lithium.

If it finds a valuable amount of the mineral in geothermal water, it will build an extraction plant, according to the update. Margün Energy issued the statement after local residents expressed concern over potential environmental damage from lithium mining.

“We have not obtained any mining permits. Furthermore, Margün Energy is not a mining company… Mining lithium, which is used in battery production, and extracting lithium from geothermal fluid by separating it are very different things,” the announcement reads.

Margün Energy to look for precious metals as well

The company said it would continue its investments in geothermal energy such as electricity production and greenhouse farming, arguing it would create jobs for locals. It suggested it could extract carbon dioxide for commercial use as well.

Margün Energy added it would explore the presence of precious metals in geothermal fluids.

Planned PV unit to generate 10 GWh per year

In addition, it submitted a proposal to the country’s Energy Market Regulatory Authority (EMRA or EPDK) for the installation of a photovoltaic unit with 5.4 MW in peak capacity. It would be added to the existing facility, creating a hybrid power plant. The solar power system would generate 10 GWh per year and increase revenue by USD 1.05 million, the company estimated.

The PV plant would lift Margün Energy’s total capacity to 135.4 MW. The company mostly operates solar power plants and works as a contractor for engineering, procurement and construction (EPC) and operations and maintenance.

Notably, it owns the largest stake in Enda Energy Holding. The affiliate operates four hydropower plants, five wind power plants, one geothermal power plant and three solar power plants of 200 MW altogether.

Margün Energy rallied 109% since the beginning of the year.

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July 30, 2025
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Project underway for 81 MW solar park on coal mine in Montenegro

The Government of Montenegro adopted urban planning and technical conditions for a solar power plant of 81.1 MW in peak capacity in Pljevlja. The site for the facility is part of a coal mining complex.

Greece is the most successful by far in the Balkans in transforming coal land into clean energy and advanced technology hubs. The projects in the region are mostly for solar power plants. Neighboring North Macedonia is next when it comes to implementation, while Romania and Bulgaria as well as Serbia and Slovenia have made their first steps. Bosnia and Herzegovina and Kosovo* are still in the planning phase, and now Montenegro is joining them with a photovoltaic project.

The government in Podgorica adopted the urban planning and technical conditions for a solar power plant of 81.1 MW in peak capacity in Pljevlja. The facility in the country’s north called Rudnik uglja would be in the Ilino Brdo I cadastral unit, on the site of the Potrlica open cast coal mine.

According to a study submitted with the application, the connection capacity would be 62.5 MW. The coal mine’s operator and PV project developer, Rudnik uglja Pljevlja, said the location spans 62.6 hectares.

The government plans to close the Pljevlja coal plant in 2041

The firm is a subsidiary of state-owned power utility Elektroprivreda Crne Gore (EPCG), which runs the Pljevlja power plant in the same complex. It is the only coal-fired facility in Montenegro. The government plans to close the thermal power plant, currently under reconstruction, in 2041.

Rudnik uglja Pljevlja presented a just transition plan in March. It aims to establish 12 businesses to transform the region and spin them off. They include construction, transportation and the installation of a small hydropower plant called Durutovići and a photovoltaic facility.

The previous government initiated the development of a plan two years ago for an industrial complex in Pljevlja. There are several separate renewable energy projects in the area as well.

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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.
July 24, 2025
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IRENA: 91% of new renewables units are more cost-effective than fossil fuel alternatives

The fossil fuel age is crumbling, according to UN Secretary-General António Guterres. Renewables maintained their cost leadership in global power markets, the International Renewable Energy Agency said in an annual report. In 2024, onshore wind farms were the cheapest of all versus the lowest-cost fossil fuel alternatives, by 53% on average, while photovoltaic systems were 41% cheaper.

Onshore wind power was also the cheapest in levelized cost of electricity (LCOE) terms, followed by solar power. At the same time, 91% of newly commissioned utility-scale capacity was delivering power at a cost lower than for the cheapest electricity from new fossil fuel–fired units.

The Renewable Power Generation Costs in 2024 report confirmed the price advantage of renewables over fossil fuels, with cost declines driven by technological innovation, competitive supply chains and economies of scale, the International Renewable Energy Agency said. IRENA expects cost reductions to continue, but highlighted the short-term challenges.

Geopolitical shifts including trade tariffs, raw material bottlenecks, and evolving manufacturing dynamics, particularly in China, could temporarily raise costs.

Asia, Africa and South America, with stronger learning rates and high renewable potential, could see pronounced cost declines.

Higher costs are likely to persist in Europe and North America, driven by structural challenges such as permitting delays, limited grid capacity, and higher balance-of-system expenses, according to the update. In contrast, regions like Asia, Africa and South America, with stronger learning rates and high renewable potential, could see pronounced cost declines.

The organization pointed to the need for stable and predictable revenue frameworks to lower investment risk and attract capital.

“Clean energy is smart economics – and the world is following the money,” United Nations Secretary-General António Guterres stressed. In his view, the fossil fuel age is crumbling.

Capital costs inflating LCOE in developing countries

Mitigating financing risk is central to scaling renewables in both mature and emerging markets. Instruments such as power purchase agreements (PPAs) play a pivotal role in accessing affordable finance, while inconsistent policy environments and opaque procurement processes undermine investor confidence, IRENA added.

In many developing countries of the Global South, high capital costs, influenced by macroeconomic conditions and perceived investment risks, significantly inflate the levelized cost of electricity (LCOE) of renewables.

Onshore wind power production cheapest by far of all kinds of electricity

In 2024, onshore wind farms were the cheapest of all versus the lowest-cost fossil fuel alternatives, by 53% on average, while photovoltaic facilities were 41% cheaper. Of note, the cost of battery energy storage systems (BESS) declined by 93% from 2010 to 2024, to USD 192 per kWh.

Onshore wind remained the most affordable source of new renewable electricity, with a global weighted average LCOE at USD 0.034 per kWh (USD 34 per MWh), followed by new solar, at USD 0.043 per kWh, and new hydropower plants, USD 0.057 per kWh.

Again per the levelized cost of electricity, 91% of newly commissioned utility-scale renewables capacity was delivering power at a lower cost than the most affordable new fossil fuel–based units.

That said, LCOE increased slightly for solar power, by 0.6%. Onshore wind power was 3% more expensive than in 2023, compared to 4% for offshore wind and 13% for the bioenergy segment. Meanwhile, costs declined for concentrated solar power (CSP), by 46%, followed by electricity from geothermal units, 16%, and hydropower, which slipped 2%.

Solar and wind energy prices have begun to stabilize, which is a natural sign of market maturity, the authors underscored.

Photo: Renewable energy LCOE 2010-2024, in United States dollars per kilowatt-hour (IRENA)

Clear path to affordable, secure, sustainable energy

The addition of 582 GW of renewables capacity in 2024 led to significant cost savings, avoiding fossil fuel use valued at about USD 57 billion, new data shows. Looking at all renewables in operation, the avoided fossil fuel costs in 2024 reached up to USD 467 billion, IRENA’s Director-General Francesco La Camera stated.

New renewable power outcompetes fossil fuels on cost, offering a clear path to affordable, secure and sustainable energy, he pointed out.

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July 24, 2025
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China-based Astronergy to build solar cell factory in western Turkey

Astronergy allocated USD 700 million for its second solar module factory in Turkey. It aims to start manufacturing photovoltaic wafers and cells in Balıkesir in the first phase. The company is part of Chint Group, headquartered in China.

Turkey’s industrial base for renewable energy equipment is expanding. The solar and wind power segment is serving the participants in government auctions, which have high domestic content requirements, and benefiting from manufacturing incentives. China-based firm Astronergy, which already operates a solar panel factory in Adana of 1 GW in annual capacity, decided to build another facility in western Turkey.

The investment in Balıkesir will be worth USD 700 million, the company’s Chairman in Turkey Ercüment Kaya told Anadolu Agency. Astronergy, part of Chint Group, aims to start building the factory by the end of the year.

In the first phase, the facility would manufacture solar wafers and cells and reach 3 GW per year. By 2028, when it is set to be fully operational, it would have 5 GW in capacity and produce photovoltaic modules as well, the official revealed.

The solar panel manufacturer is planning to export 80% of the devices that it manufactures in the second factory

The company would employ its TOPCon 4.0 cell technology. Astronergy counts on the government’s HIT-30 program for high technology, the report adds. Kaya said the manufacturer bought land in Balıkesir’s industrial zone and that it intends to export 80% of the devices, mostly to the American market and Southern Europe.

Early this year, 75 solar panel manufacturers operated in Turkey. Put together, their annual capacity was 44.5 GW. Three were making solar cells and their overall capacity was 6.1 GW per year.

The country is also strong in other technologies, like for geothermal power plants.

The government recently declared a 2035 target for solar and wind of 120 GW in total. Turkey hosts some 23 GW in photovoltaic capacity.

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July 23, 2025
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Slovenia kicks off grants program for renewables-based district heating, cooling

The Ministry of the Environment, Climate and Energy of Slovenia launched a public call for cofunding the construction or restructuring of district heating and cooling systems using renewable energy sources. The grants, for companies and cooperatives, are from the European Union’s cohesion support mechanisms.

The introduction of renewables-based district heating and cooling systems reduces pollution, greenhouse gas emissions and the dependence on fossil fuels. Much of the European household and business sectors still rely on gas boilers for heating. In addition, the ever-increasing severity and length of heat waves are prompting the need for a systemic cooling solution.

As part of its decarbonization and energy efficiency efforts, Slovenia launched a EUR 51.2 million cofunding package for companies and cooperatives.

The program covers the construction or restructuring of district heating and cooling systems using renewable energy sources. The first deadline for applications is September 11, followed by one on January 8, the Ministry of the Environment, Climate and Energy said.

The public call will be open until the entire sum is allocated, or at the latest until September 11, 2026, the third deadline. The EU’s cohesion funding accounts for 85% and Slovenia is providing the rest.

District heating projects that include cooling get additional points

While primarily aimed at increasing the production of electricity and heat from renewable energy sources and from waste heat, the scheme includes additional points for projects that involve cooling. The systems are required to cover at least 350 kW of consumption.

Eligible equipment includes heat pumps, solar collectors, wood biomass boilers and combined heat and power (CHP or cogeneration) solutions.

Large companies can receive up to 45% of their investment, while mid-sized ones can get 55%. The cap for small and micro enterprises is 65%. The maximum individual grant is EUR 30 million.

Slovenia’s current calls for subsidizing sustainable mobility, energy efficiency and renewables projects are worth more than EUR 300 million altogether. The government is preparing four more, for EUR 62 million overall.

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July 23, 2025
by in News

Germany supports Serbia in clean energy supply, environmental protection

The Republic of Serbia and Germany’s KfW Development Bank signed a loan agreement on July 18 for EUR 135 million for the second phase of the credit program Green Transition Development Policy Operation (DPO II).

The signatures underscore the joint activities by Germany and Serbia aimed at a climate-compliant and socially just energy transition, said Chargés d’Affaires ad interim Carsten Meyer-Wiefhausen from the Embassy of the Federal Republic of Germany in Serbia. “We will continue to be with Serbia on this path and support its reform efforts,” he stressed.

Within the financing for the reforms, the World Bank, French Development Agency (AFD) and the German KfW Development Bank are supporting the Republic of Serbia in conducting its ambitious reform agenda. The goal is to accelerate the transition to energy from clean sources and align with EU standards in environmental protection and climate.

Series of reforms through DPO II

Several successful reforms have been materialized within DPO II, among which:

  1. Promoting investments that are acceptable in environmental and climate terms: Public investments are graded under environmental criteria and with regard to the risk of natural disasters, and with models developed solely for the purpose. The citizens of Serbia benefit from the government’s more sustainable investment decisions.
  2. Enhanced transparency in the public budget: The Government of the Republic of Serbia has committed to publishing information on the execution of the public budget, not only at the end of the fiscal year, but also during the year. It improves the transparency of public expenditures, primarily concerning investments in environmental and climate protection.
  3. Affordable energy prices: The Government of the Republic of Serbia has rolled out temporary targeted subsidies for households with low income, like citizens with low pensions. The share of households receiving such aid has grown from 2.7%, registered in 2021, to last year’s 8%.
  4. Improvement in waste disposal: Aligning with EU standards brings a better approach to sanitary landfills, namely from 42% (2021) to last year’s 50%. The citizens of Serbia benefit from improved waste disposal and a cleaner environment.
  5. Prepared for CBAM: Since this year, large industrial facilities and power plants report their CO2 emissions in line with EU standards. That way Serbia is more prepared for the upcoming full implementation of the European Carbon Border Adjustment Mechanism (CBAM) for carbon prices. For instance, the country would be able to price CO2 emissions and charge them.

Financing reforms within climate partnership

Germany’s contribution to financing reforms is an integral part of Germany’s climate partnership with Serbia and the entire Western Balkans. The purpose of the partnership is to support Serbia’s work on achieving its national climate goals and adapting to climate change. The key goal of the partnerships is for the transformation that is necessary to meet climate goals, in the interest of Serbian citizens, to be socially just, a just transition.

This year, Serbia and Germany are celebrating the 25th anniversary of their development cooperation. In the meantime, KfW financed projects worth EUR 2.5 billion in Serbia.

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July 22, 2025
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Biggest PV plant in Slovenia begins regular operation

The largest solar power plant in Slovenia has only 7.1 MW in peak capacity and a 5 MW grid connection. The facility in the country’s southwest, on the border with Italy, has begun regular operation, according to its developer Moja elektrarna.

Slovenia is mostly leaning on small photovoltaic and battery storage installations for its renewables expansion. Moja elektrarna, a firm based in Maribor, the second-largest city, built the country’s biggest solar power facility.

The PV plant consists of 12,888 modules of 550 W apiece, Naš stik reported. It translates to barely 7.1 MW in peak capacity, in terms of direct current or DC. The grid connection, for alternating current (AC), is 5 MW.

Moja elektrarna installed the PV park at the Krvavi Potok village on the border with Italy. The facility in southwestern Slovenia is on the territory of the Hrpelje-Kozina municipality. It is expected to generate 8.4 GWh per year. The projected output is equivalent to the electricity consumption of 2,400 domestic households, the article adds.

Located next to one of the main roads to Italy, the PV plant in Krvavi Potok is suitable for powering future electric vehicle charging points

The firm said the test operation began on April 1 and that the solar power plant entered regular operation on July 1. It expects to receive the certificate of occupancy, the final permit, by September.

Moja elektrarna is a subsidiary of Austria-based PV-Invest, which earlier said the PV plant spans 7.2 hectares. The company has calculated that the solar power plant would prevent an equivalent of almost 64,000 tons of carbon dioxide emissions in total over its 30-year operating life.

Located next to one of the main roads to Italy, the facility is suitable for powering future electric vehicle charging points, according to the company. PV-Invest develops funding plans for private and institutional investors for joint photovoltaic projects supported by banks and financial institutions, according to its website.

In 2023, HESS built the now second-largest solar power plant in Slovenia in Brežice, at its hydropower plant.

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July 22, 2025
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Pexapark: PPA activity in Europe drops in first half of 2025

The number of power purchase agreements (PPAs) for renewables in Europe fell by 31% and the volume tumbled 26% in the first half of the year from the levels in the same period of 2024, Pexapark found. Germany and France registered sharp declines in the photovoltaics segment, but a surge in Italy and Spain has more than offset the drop.

The meteoric rise in deals for battery energy storage systems, BESS, is a clear sign of its maturity.

In its latest report, analytics and advisory firm Pexapark provided a detailed look into PPAs and contracts for battery energy storage systems in the first six months of 2025. It found that PPA activity shrank by more than a quarter in year-over-year terms, but not everywhere and not due to solar power.

Across 124 deals, 6.08 GW of renewable electricity capacity was contracted in the first half, which is 31% and 26% down, respectively, from the same period of 2024. Conversely, the average deal size advanced 5% to 48.2 MW.

Notably, the April-June period was much weaker than the first quarter of the year, with just 50 deals, but the volumes were almost evenly split.

The main technologies in the first half were solar power, 4.2 GW from 73 deals, onshore wind (1.4 GW and 32 PPAs), mixed technology (290 MW and nine deals) and offshore wind (134 MW and four deals). The result is proportionate to the picture from January through June 2024.

Despite concerns over saturation of demand for standalone solar, volumes have firmed. The 4.2 GW of solar capacity contracted under PPAs compares to 3.9 GW of the first half of last year. The deal count landed at 73, against 95, which is in line with the overall trend.

PPA activity in Germany plunged 84% in terms of volume

Solar offtake activity reveals a clear split in market momentum. It is slowing down in markets where cannibalization has worsened drastically and rapidly – such as Germany and France. In fact, Germany saw the largest decline in volumes – a remarkable 84% year-on-year decrease in terms of overall volumes, with 228 MW across eight deals in the last six months, versus 1.2 GW and 31 deals in last year’s equivalent.

There is stable or even upward appetite in markets which have had time to adjust to cannibalization and the lower valuation of solar production, or where cannibalization levels are still very low

Conversely, solar PPA activity in Italy and Spain spiked, more than making up for the said decline.

“These numbers support the hypothesis that there is stable, or even upward appetite in markets which have had time to adjust to cannibalization and the lower valuation of solar production – i.e., Spain, or cannibalization levels are still very low – such as Italy. Italy’s solar PPA volumes grew 184% year-on-year, with nearly an additional 700 MW procured compared to the same period last year. Corporate appetite in the country is growing, and so is deal size – with a 420 MW solar corporate deal announced in June comprising the country’s largest PPA ever recorded,” the analysis reads.

As for Southeastern Europe, OMV Petrom’s deal with Enery for their joint solar power project Gabare in Bulgaria was Europe’ third-largest PPA in June.

Flexibility monetization is opportunity for market players with right profile

In a market increasingly driven by flexibility monetization, today’s challenges – cannibalization, future capture dynamics and balancing risks – are becoming opportunities for market players with the right profile. And with corporate buyers more hesitant to pay premiums for solar, transactable prices are—perhaps for the first time in a while – closer to perceived fair value, according to the report’s authors.

Wholesale electricity prices in Sweden were negative for almost two fifths of the time in the first six months of 2025

Hourly periods with negative prices at wholesale electricity markets continued strong in the first half. Sweden maintained its top position by far, with most such events. There were 1,635 hours with negative prices from January until the end of June. It is a stunning 37.8% share of the entire period and already 63% of the tally from all last year.

The other jurisdictions that make up the top five in Europe: Finland, Germany, the Netherlands and Belgium, remained the same since 2024.

On average, European countries have already reached around 67% of the number of hours counted in 2024 as a whole. Norway hit 90%, Denmark 87% and Spain climbed to 86%, suggesting that last year’s records would fall.

Top five European markets by number of negative price hours, 2024 vs. the first half of 2025

BESS deal volumes already three times higher than in all 2024

The maturity of the BESS industry is clearly reflected in the deal count and contracted volumes over the past 18 months, with the trend increasingly pronounced in 2025.

Battery storage capacity being contracted under optimization or fixed-revenue offtake contracts (so-called floors and tolls, respectively) amounted to a total of 4.6 GW in capability and 9.2 GWh in capacity across 36 deals. It is just over three times more than in entire 2024 in both benchmarks. The deal count was 44% up from all last year.

The lion’s share of the deal count concerns BESS assets with a two-hour duration

The rapid growth was driven by a wave of new agreements in the two most advanced markets – Great Britain and Germany – alongside first-ever BESS deals emerging in Belgium, Poland, Greece, and Bulgaria. The lion’s share of the deal count concerns BESS assets with a two-hour duration, which the ratio of operating power and capacity also indicates.

Pexapark provides of price data, market intelligence, and advisory services for renewable energy. It was one of the knowledge partners at this year’s edition of Belgrade Energy Forum, organized by Balkan Green Energy News.

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