December 19, 2025
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KEK seeks contractor for 100 MW solar power project near Prishtina

Government-controlled Kosovo Energy Corp. (KEK) launched the prequalifications call for its Solar4Kosovo photovoltaic project. The area is in the municipalities of Obiliq (Obilić) and Fushë Kosovë (Kosovo Polje), northwest of Prishtina.

After more than four years of planning the project, KEK is receiving applications for the design and construction of its first solar power plant, on a former coal ash dump. The government-owned power utility operates coal plants Kosovo A and Kosovo B, which account for some 90% of domestic electricity.

The location for the first part of the Solar4Kosovo project is in the municipalities of Obiliq (Obilić) and Fushë Kosovë (Kosovo Polje). The area, northwest of Prishtina, is in the Sitnica river valley, near Kosovo A.

The facility is planned for a grid connection of at least 100 MW. It translates to 120 MW in peak capacity, according to earlier updates. It would be the biggest PV plant in Kosovo*.

KEK is receiving prequalification bids until January 22, within the process of selecting contractors for the project. Companies apply through the exficon (exfitender) platform. Three months ago, the utility said agricultural activities on the designated land weren’t allowed anymore.

KEK obtained EUR 32 million EU grant

The financing for the Solar4Kosovo facility is part of the European Union’s Economic and Investment Plan for the Western Balkans of EUR 9 billion in grants. The package is aimed at mobilizing a total of EUR 30 billion.

The European Investment Bank is providing a EUR 33 million loan. The EU has approved a EUR 32 million grant via its Western Balkans Investment Framework (WBIF), while Germany’s KfW Development Bank is lending EUR 29 million to KEK. The investment was earlier estimated at EUR 107 million overall.

Annual output estimated at 169 GWh

The proposed solar power plant is expected to produce 169 GWh per year. It would have an underground connection to the existing substation at the Kosovo A thermal power plant.

The other part of the Solar4Kosovo project is for a solar thermal facility of 30 MW for the capital city’s district heating system. The site is in the village of Shkabaj (Orlović) in Obiliq municipality. Another segment of the investment is for a further network extension of 20 MW with supply from Kosovo B.

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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 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 8, 2025
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Šahmanović: Montenegro is facing its most challenging year for energy sector

Montenegro is facing its most challenging year for the energy sector, Minister of Energy and Mining Admir Šahmanović stressed.

State-owned power utility Elektroprivreda Crne Gore (EPCG) will suffer a loss of around EUR 80 million given that the Pljevlja coal power plant is offline, while electricity consumption is rising amid increases in prices of other energy sources, Admir Šahmanović told TV Vijesti.

He explained that development is focusing on the reconstruction of the thermal power plant, addressing delays in connecting solar power plants to the grid, and plans for projects including within cooperation with the UAE and an agreement with Italy on a second subsea cable.

Šahmanović: We entered this year quite wounded

The priority will be price stability and increasing the use of renewable sources, along with strengthening Montenegro’s position as an energy hub between the region and the European Union, he added.

“I can freely say that, regarding this year, it is perhaps the most challenging year in the modern history of Montenegro, exactly for the energy sector. We entered this year quite wounded given the fact that last year the hydrological conditions were the worst in the country’s history,” he asserted.

Šahmanović added the electricity demand in Montenegro has jumped 6%.

Climate change is playing its part

One of the reasons is the increase in the price of energy sources such as wood and coal, according to the minister.

He pointed to climate change as another factor. There is a growing need to install air conditioning units even in northern Montenegro, where there was previously no need for it, he added.

Therefore, in the minister’s words, the construction of other production facilities is inevitable.

Of note, EPCG’s executive manager of supply Jovan Kasalica said in April that electricity consumption in Montenegro has risen by 25% over the previous four years.

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December 8, 2025
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Greece’s first municipal energy community to be launched in its coal capital Kozani

The city of Kozani in northern Greece, home of the country’s dwindling lignite industry, is seeking a contractor for seven photovoltaic systems of 7 MW overall. The municipality said the power plants would supply its buildings, public lighting, pumps and drilling rigs as part of the country’s first energy community led by a local authority. Under a virtual net metering scheme, the facilities are also intended for combating energy poverty.

Energy communities are present all over Greece, but private capital is dominant – instead of individuals, local institutions and small firms. The concept can be especially beneficial for local authorities in coal regions, which are undergoing rapid decarbonization and turning toward cutting-edge technologies.

Job losses and a lack of skills jeopardize communities in such areas. The Municipality of Kozani, the capital of Greece’s coal land, the region of Western Macedonia, is one of them. It was among the first in the country that launched initiatives for energy communities led by local authorities.

Deadline for applications is January 12

Kozani has opened a tender for the selection of a contractor that would build seven photovoltaic plants. The municipal solar power units would operate under a virtual net metering scheme.

It would enable supplying municipal buildings, street lighting, schools, sports facilities, pumps and drilling rigs, but also the means to fight against energy poverty. The municipality received funding via the European Union for the project, under a just development and transition program.

The city claimed that it would be the country’s first energy community of its kind. Prospective candidates can apply by January 12, and the selection is scheduled for January 16. The budget amounts to EUR 6.25 million including value-added tax, and the local authority participates with 20%.

Kozani already invested EUR 650,000 in its energy community

The project is placing the Municipality of Kozani in the lead in energy self-sufficiency and autonomy in the country, Mayor Yiannis Kokkaliaris said.

He revealed that the local authority managed to secure grid connection terms in time not to lose the EUR 650,000 that it spent so far for the purpose.

The Kozani area is already hosting some of Greece’s largest photovoltaic plants and projects. It is envisaged for one of six waste incinerators in the country. Government-controlled Public Power Corp. (PPC Group) plans to build pumped storage hydropower plants on its depleted open pit coal mines in the region.

Of note, Greece recently lost EUR 100 million from the European Union’s Recovery and Resilience Facility (RRF) for the Apollo program. It was aimed for self-consumption for vulnerable households through forming an energy community.

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December 3, 2025
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Turkey earns EUR 84.8 million upfront from solar power auction

Investors in photovoltaic projects were mostly willing to pay large sums at Turkey’s latest YEKA auction to secure a minimum guaranteed price for five years, followed by 20-year power purchase agreements. The government earned EUR 84.8 million overall from the secondary bidding for 650 MW, split into six areas. One zone is for a floating solar power plant.

According to Turkey’s Minister of Energy and Natural Resources Alparslan Bayraktar, domestic electricity demand is on a trajectory to triple to 1.05 PWh in the next 30 years. It follows an almost threefold jump of the last two decades, while natural gas is rising even faster, he pointed out.

The minister has urged investors to keep up the momentum, noting that the national goal for 2035 for solar and wind power is 120 GW in total.

One of the pillars of the government’s measures to incentivize such endeavors are renewable energy auctions. Notably, the obligatory domestic content rates are high, to boost manufacturing in the sector.

The latest solar power auction under the Renewable Energy Zones (REZ) state support mechanism even brought substantial earnings for Turkey, for the second time. The bidding was initiated at the ceiling price, EUR 55 per MWh, and when the floor level was reached at EUR 32.5 per MWh, the remaining competitors were switched to another auction.

They offered so-called contribution shares, starting at a stunning 10,000 per MW of planned connection capacity. The quota for the REZ SPP 2025 (YEKA GES 2025) round was 650 MW, split into eight zones. Two zones were taken off the table after the call, due to delays in permitting.

Highest fee was EUR 285,000 per MW

In total, Turkey cashed in EUR 84.8 million or EUR 130,400 per MW of connection capacity, excluding value-added tax.

The Eskişehir zone, 260 MW, went for EUR 105,000 per MW to Efor Holding. The company was successful at the previous wind power auction as well, early this year.

Stone Enerji won the Erzurum 1 segment, of 100 MW, by pledging EUR 100,000 per MW. Sertaş Turizm took Erzurum 3, at 85 MW, for EUR 120,000 per MW.

The Ministry of Energy and Natural Resources included a floating solar power plant project for the first time

The 50 MW Bolu zone went to Ecogreen Enerji. The company is paying 44,000 per MW, the least of all winners.

Kahramanmaraş, of 40 MW, was awarded to Güçlü GES Enerji. It pledged EUR 285,000 per MW, which was the highest contribution fee. Aydede Enerji has obtained the Mardin zone for EUR 208,000 per MW while Zincir GES Enerji managed to win the Van solar power project for EUR 187,000 per MW. Both are for 40 MW.

The auction also featured the first zone for a floating solar power plant. Demirköprü Yüzer GES in Manisa province, for 35 MW, was taken by a firm with the same name. It is paying EUR 225,000 per MW, the ministry has revealed.

Solar power auction facilitates USD 400 million in investments

There were 77 applications altogether, from 38 companies.

The winners will be able to sell electricity on the free market for five years. However, they are guaranteed at least their contracted price, which in all cases is the floor price – EUR 32.5 per MWh. The second period, 20 years, is with a power purchase agreement.

Bayraktar estimated that the solar power auction facilitated investments worth a combined USD 400 million. The projected annual output is equivalent to the electricity needs of half a million households.

The minister pointed out that 8 GW of solar and wind power would come online this year in total. The combined capacity on the grid from the two technologies amounts to some 39 GW out of 121 GW overall.

Also of note, the Energy Storage Industries Association (EDEDER) has forecasted that 1.5 GWh of storage capacity would be commissioned next year in Turkey.

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December 2, 2025
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Enery to start building Europe’s largest solar power plant in Romania

Austria-based Enery is preparing to begin construction works early next year on a photovoltaic facility of 750 MW in peak capacity just outside of Bucharest. It would currently be Europe’s largest solar power plant. A few other megaprojects are underway, too, but the Ogrezeni facility is planned with a battery energy storage system that would match its grid connection capacity.

Enery, which operates a range of wind, photovoltaic and small hydropower plants and battery storage across Romania, has only a few final steps before the start of construction of a giant solar farm in Giurgiu county, the company’s Head of Romania Liviu Gavrilă revealed to Profit.ro. The launch of the works is due early next year, he added.

With its 750 MW in peak capacity, the solar park in Ogrezeni, just west of the capital Bucharest, would be Europe’s largest at this moment. The company obtained a grid connection approval for 534 MW in 2023, the article adds.

Europe’s largest PV plant is Witznitz in Germany’s east. It has 650 MW in peak capacity. There is also an 850 MW cluster of 17 units in Spain, called Escatrón-Chiprana-Samper Solar Farm.

If the Asian part of Turkey is included, Kalyon Karapınar is at the top of the list. It has 1.35 GW in peak capacity and a 1 GW grid connection. Already one of the largest in the world outside China, the solar park is due for expansion into a complex of 1.85 GW in peak capacity.

Romania hosting two projects for Europe’s largest solar parks

Of note, Rezolv Energy and Monsson are about to build a solar farm in northwestern Romania of 1.04 GW in peak capacity. The site is in the communes of Pilu and Grăniceri in Arad. The Dama Solar system is envisaged with a battery energy storage system (BESS) of 500 MW.

But Austria-based Enery is planning a BESS with 534 MW in operating power, matching the grid connection. The unit would have a two-hour duration, translating to a storage capacity of 1.07 GWh.

Both Ogrezeni and Dama Solar are planned as hybrid power plants, with giant batteries

Both Dama Solar and Ogrezeni, also known as Baboia Solar Plant, won state support at Romania’s second solar power auction.

Spanish Iberdrola is preparing a bigger project, Fernando Pessoa in Portugal, though it has suffered delays over environmental concerns and disputed permits.

Enery to equip all its power plants in country with battery storage

Some negotiations remain to be completed before the groundbreaking, Gavrilă said. Enery is targeting a commercial operations date in the fourth quarter of 2027. In comparison, Dama Solar is scheduled to come online in the third quarter of 2028.

Enery has completed a PV plant of 54 MW in Titu, Dâmbovița county. The company is preparing it for a test run. It has 167 MW in operation in Romania, of which the Sărmășag solar park accounts for 51.4 MW in peak capacity.

“We want to install batteries for all our production capacities in Romania. But we are also active in the area of ​​stand-alone storage installations,” Gavrilă asserted.

In addition, the company manages electricity supply for others as a balance responsible party, using the SmartPulse platform.

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December 2, 2025
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LONGi enters energy storage market, redefining industry standards with Ultimate Safety

LONGi, the global leader in solar technology, unveiled its energy storage strategy in London, officially announcing its entry into the storage sector with the launch of the LONGi Energy Storage One-Stop Solution. This marks LONGi’s strategic evolution from a global photovoltaic leader to an integrated Solar-Storage-Hydrogen comprehensive energy solution provider.

Addressing the challenge of the projected doubling of global electricity demand by 2050, Dennis She, Vice President of LONGi, introduced for the first time the Stability Triangle energy framework centered on solar, energy storage, and hydrogen energy.

“Solar is the creator of clean energy, energy storage is the stabilizer of the power system, and hydrogen is the regulator that balances it all,” Mr. She stated to energy experts and investors from around the world. “The synergy of these three will build a truly widespread, highly resilient, and affordable zero-carbon energy system.”

From Solar to Solar-Storage-Hydrogen: building a Stability Triangle energy framework

Currently, LONGi possesses leading technologies in PV and hydrogen energy – with its HIBC cell efficiency reaching 27.81% and its ALK electrolyzer capacity ranking first globally.

This expansion into energy storage signifies the further enhancement of LONGi’s strategic layout, fully forming a closed-loop across the entire Solar-Storage-Hydrogen value chain.

Breaking new ground with Ultimate Safety: reshaping the logic of competition in energy storage

Energy storage is a crucial piece in the renewable energy system, and the industry is shifting from policy-driven to market-driven growth.

Dennis She pointed out, “The current development stage of the energy storage industry is very similar to the early days of solar – confidence-driven rapid growth, but also bringing disorderly competition. The future dimension of competition in energy storage has evolved from ‘having the technology’ to ‘value reliability.’”

He emphasized, “Safety, reliability, and stability are the yardsticks for measuring energy storage solutions, and are also the cornerstone for winning the long-term trust of the market and customers.”

To uphold the value proposition of Ultimate Safety, LONGi has chosen to engage in deep collaboration with PotisEdge, an expert in energy storage safety. Adhering to a three-pillar technical architecture of “intrinsic safety, active defense, and intelligent early warning,” and through its fully self-developed 5S energy storage system with unique BMS and iCCS designs, PotisEdge has maintained a safety record of “zero thermal runaway” incidents across more than 12 GWh of cumulative energy storage and power battery systems over the past decade. This will provide solid technical support for LONGi’s energy storage solutions.

Establishing the first Solar-Storage Technology Innovation Center in Europe

To accelerate Europe’s energy transition, LONGi officially announced the establishment of its first Solar-Storage Technology Innovation Center (Center of Excellence, CoE) in Europe. This center will integrate core functions including project consulting, technical training, O&M support, and spare parts services, dedicated to providing European customers with rapid-response, full-lifecycle localized professional services, comprehensively ensuring the safety, reliability, and long-term returns of integrated solar-storage assets.

Choosing London for this global strategy launch underscores LONGi’s high regard for the European market. “Europe’s urgent need for energy transition and its mature market mechanisms provide an ideal platform for practicing integrated Solar-Storage-Hydrogen solutions,” Mr. She stated during the launch.

The LONGi Energy Storage Solution will be deployed first in key markets such as the UK, Germany, Italy, and Spain, helping utilities and power companies build smarter and more efficient clean energy systems. In the future, LONGi will continue to explore viable pathways for the global zero-carbon transition through its Solar-Storage-Hydrogen integration strategy, working hand-in-hand with all parties towards a sustainable future powered by renewable energy.

About LONGi

Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation. Under its mission of “making the best of solar energy to build a green world”, LONGi has dedicated itself to technology innovation and established several business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment.

The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero-carbon development.

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December 2, 2025
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Renewables investors are seeking tailored financing services as they add BESS, adapt to risks

Market conditions have become challenging for renewables in the CEE region, alongside uncertainties in the regulatory sphere, which calls for advanced and tailored financing solutions, according to participants in UniCredit Serbia’s workshop on navigating capital flows in the segment, including mergers and acquisitions (M&A). Investors, UniCredit’s clients, highlighted the growing importance of battery energy storage systems – and especially adding co-located storage to photovoltaics.

The renewable energy market is evolving in Central and Eastern Europe, as large players join the game and developers emerge as producers. With its surge in photovoltaic capacity and the revival in the construction of wind power plants, Romania has become a frontrunner. In neighboring Bulgaria, the first power purchase agreements (PPAs) are indicating a strong perspective, while Serbia might become more relevant soon, investors agreed at an event that UniCredit Bank Serbia organized in Belgrade.

M&A and financing trends in the region were the central topics. The idea was to have an open discussion with industry players active in the region about their investment strategies and the bank support, said the Head of Specialized Lending in UniCredit Serbia Svetlana Cerović, who moderated a panel within the conference.

A stable top line and a legal framework is the key driver for investments, with a particular emphasis on grid connections

Cerović pointed out that volatility has been on the rise for the last couple of years, after a huge wave of investments that followed the Paris Agreement and the European Green Deal. Sound and predictable regulatory framework along with stable revenues is key. To assure market flexibility and grid stability, new investments in western Europe and in the region are supported with the government programs including investments in battery energy storage systems (BESS). Thus, one of the prerequisites for the execution of future projects in local market will be certainty regarding the third auction timeline and availability of the longer term PPAs.

The participants at the workshop on navigating capital flows in renewables said a stable legal framework is the key driver for investments – grid connections especially, and permitting as a whole. On that note, developers will lean on the slowly maturing PPA market, though support from banks is necessary in the equation. Battery energy storage systems are a game changer, particularly colocated with solar parks for the optimization of the project returns.

UniCredit is strongest player in renewables financing in Serbia

UniCredit has a wide set of tailor-made project finance loans as well as a full range of services from advisory to various financing solutions, Head of Project and Structured Finance in Serbia Jelena Nestorović said.

The Italy-based bank has financed a string of major wind power and photovoltaic projects in the region, including facilities with colocated BESS, like Sunterra RE’s Galabovo in Bulgaria.

As for Serbia, it is the strongest player in the renewable energy segment. UniCredit financed six wind parks in the country, of 430 MW in total, and of which three as the sole lender. Notably, Čibuk 1 and 2 are the largest in Serbia.

UniCredit Bank Serbia is financing the country’s biggest wind power plants – Čibuk 1 and 2

Some of the participants and winners at the first two domestic auctions for contracts for difference (CfDs) are among the bank’s clients as well. Nestorović stressed that Bank is financing in total 30MW of smaller scale solar power plants .

She pointed to one of the largest industrial rooftop solar power plants in the region. UniCredit provided EUR 3.1 million facility and acts as a hedging and account bank for CWP Europe and Resalta’s project company. It built a PV system of 6 MW on a rooftop of Henkel Serbia facility in Kruševac, under an ESCO (energy service company) model.

Since 2019, the bank has participated in the financing of first waste-to-energy cogeneration plant,  located just outside of Belgrade. UniCredit is financing energy efficiency projects in the country, too.

Jelena Nestorovic UniCredit Renewables investors tailored financing services BESS adapt risks
Photo: UniCredit’s Jelena Nestorović presenting

Priority in Europe shifted from energy transition to energy security

Maria Vastola, Managing Director of UniCredit’s Energy Advisory Team covering Power & Utilities across the Group’s core countries, said valuations for renewable energy stocks on public markets are strongly down compared to 2021-2022 period and below the 3Y historical average. Independent power producers (IPPs) are factoring in a great uncertainty related to the permitting process, the regulatory framework in certain countries and the macroeconomic environment, she explained.

The bottom line is the shift in the European paradigm from the energy transition to energy security, due to geopolitical tensions, Vastola underscored. On the other hand, M&A still has good valuations, she said at the panel discussion.

Investors are focusing on operational quality, meaning high-quality assets, returns and value creation, as opposed to growing at any cost, Vastola added.

“There are more investors ready to put capital in projects and in the region. Private capital flow is a good bridge and a complementary tool for banks’ balance sheets,” she asserted and placed an emphasis on large corporations, private equity and M&A.

Scale creates efficiency, and efficiency and flexibility create value in a challenging market, Vastola stressed, highlighting investments in hybrid power plants that include battery storage. Over the past few years, corporates, traders and utilities are flocking into the renewables realm in “a big shift from big oil to big energy,” she said.

Actis to invest in infrastructure projects across region

Vice President for Energy Charles Lachapelle from Actis agreed with the other panelists about the significance of hybrid power plants and underscored that the sustainable infrastructure investment firm is mostly doing very large projects as they are much more competitive.

“Definitely, for solar, I think having a BESS is a must,” he said and added that “it goes without saying at this point.” As for batteries with wind parks, they enable flexibility for offtake, Lachapelle noted.

Actis is a growth market investor in the infrastructure and energy space, best known in the region for Rezolv Energy. In Romania, the company obtained a financing package for the first phase of its giant Vifor wind farm via PPAs with companies in the commercial and industrial (C&I) sector. The second part was secured thanks to the CfD from a renewable energy auction.

The next chapter for Actis could involve more than a billion euros

Among other investments in Romania, Rezolv has the Dama Solar project for 1.2 GW in peak capacity. It would currently be one of the biggest in Europe. The company is also active in Bulgaria.

Actis is looking at a pipeline of projects across the region, including in Serbia, Lachapelle revealed. Asked about the next auction that the country is planning, he said a wind power project in the 200 MW range would be suitable.

Lachapelle specified that the next chapter may involve over EUR 1 billion and that Actis would require support in financing.

On the subject of power purchase agreements, he said the optimal tenure is longer than ten years, with more than 70% of output contracted. “However, we’ve done cross-border PPAs. We’ve looked at solutions, in the past, combining wind, solar and BESS. We can be creative on that front,” Lachapelle stated.

Regulatory stability is essential for investor-friendly countries

While the PPAs of 70% and at least 10 years are necessary for non-EU countries, banks in the EU are more risk-hungry, according to CWP Europe’s General Counsel Jovana Rubežić.

One of the most important factors is how investor-friendly a country is, she added. “When I say investor-friendly, I mean the regulatory framework… The next thing we look at is whether we can connect our project and can the power markets absorb the power,” Rubežić said.

The rules have basically stayed the same in all of CWP Europe’s key markets, except with respect to grid connection, as transmission system operators are becoming stricter, she underscored. The company is transitioning from project development to the IPP sector, Rubežić said. She pointed to the need for support in regulatory matters, especially in sleeved PPAs, both from the government and government-owned utilities such as Elektroprivreda Srbije (EPS) in Serbia.

Structured portfolio transactions are facilitating growth for companies with multiple projects

Bankers generally seem to prefer co-located batteries to standalone ones, UniCredit’s Head of Infrastructure and Export Financing Lazar Nikolić said.

The main reason is the more diversified revenue stack, as a combination of BESS and a renewable electricity plant is effectively a single asset. With global battery storage capacity on a steep growth trajectory, banks and investors will need to look for bankable solutions to enable that.

Firstcomers in the standalone battery segment may have an extremely short payoff period ahead, but the bank needs a revenue stack

Nikolić stressed that developers need advanced capital solutions such as structured portfolio transactions, saying that they pave the way for renewables platforms to grow. Namely, firstcomers in the standalone battery segment may have an extremely short payoff period ahead, however a solid revenue stack remains key for the bank to take on risk. Countries with strong state support schemes will enable standalone BESS faster, he added.

In structured portfolio financing, the client company has different BESS, power plants and projects grouped.

“The assets can be different in terms of technology, they can be different in terms of location, they can be different in terms of offtake, in terms of also the cycle of the assets. We pack them together, bundle assets and structure debt solution on top of them, significantly enhancing portfolio diversification,” Nikolić said.

Lazar Nikolic UniCredit
Photo: UniCredit’s Lazar Nikolić presenting structured portfolio financing options

Battery storage is natural hedge for green power production

Enery, headquartered in Austria, decided at one point to add battery storage across its power plants as well as both mature and greenfield projects in Romania, Vice President for Financing Sebastian Staicu said. BESS is “a natural hedge” and it has become very cheap, he noted.

UniCredit acted as the lead bank for the company’s 230 MW portfolio of wind, photovoltaics and battery storage in the country. “That’s a smart structure where, instead of having to negotiate financing for each project, you have this wholesale facility and you just bring in new projects, which contribute to the diversification element,” Staicu said.

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December 2, 2025
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One of biggest PV parks on Earth expanding to 1.85 GW

A solar power plant of 500.5 MW in peak capacity will be built just south of the existing Kalyon Karapınar photovoltaic park in Turkey’s Konya province. It is already one of the biggest in the world, especially excluding China. Kalyon Enerji said it would become a 1.85 GW complex.

Turkey hosts Europe’s largest solar power plant. Or rather, it hosts the largest PV plant among all European countries, because Kalyon Karapınar is located in Konya province in Asia Minor.

At 1.35 GW in peak capacity and a 1 GW grid connection, it is one of the biggest in the world, especially if China is excluded. Namely, according to available data, most of the top 20 PV parks are located there. Kalyon Enerji, a joint venture of Kalyon Holding and International Holding Co. (IHC), based in the United Arab Emirates, completed the facility in 2023.

The company recently began groundworks on its expansion by 500.5 MW in peak terms, translating to 385 MW on the high-voltage network. Kalyon Enerji expects to finish it by the end of next year. It is already building the transformer as well.

Spanning 643 hectares, the site is just south of Kalyon Karapınar. The company expects the new unit to account for over 1 TWh of the estimated 4 TWh in annual output at the solar power complex.

With nearly one million new panels, total number would climb to more than four million.

Kalyon Karapınar introduced agrisolar concept to Turkey

Kalyon Karapınar was the winning project at Turkey’s first renewable energy auction, in 2017. The company won state support for the 500.5 MW extension in February this year, also under the Renewable Energy Zones (REZ or YEKA) mechanism.

Construction of the existing facility started in August 2020 on degraded and desert land. The operator’s affiliate Kalyon PV manufactured the solar panels, with a content rate of 80%. In the meantime, it reportedly climbed to some 90%.

Kalyon PV manufactures solar panels with a 90% domestic content rate

The solar power plant features single-axis trackers, moving the panels east to west along the sun’s path.

According to Kalyon Enerji, increased shading and the soil’s higher water retention capability enabled the creation of a microclimate with lower temperatures and more biodiversity. The giant PV system in Konya was the first in Turkey to allow farmers in the area to use it for sheep grazing, the company said

Wind, solar reach 39 GW in total

Notably, another round of auctions was completed this week, with 650 MW awarded across seven provinces. The authorities earlier canceled the bidding for two YEKA zones due to permitting delays.

Minister of Energy and Natural Resources Alparslan Bayraktar said the combined capacity of wind and photovoltaics in Turkey has reached 39 GW. It means that solar power climbed to around 25 GW.

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December 2, 2025
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Voltalia receives license for Spitalla PV plant in Albania

French renewable energy company Voltalia obtained a 30-year license for its Spitalla solar park at the Albanian port city of Durrës. It won the project at a renewable energy auction in 2021.

In its latest update, the Energy Regulatory Authority (ERE) of Albania authorized Spitalla Solar to generate electricity from a photovoltaic plant of 90 MW. France-based Voltalia has established the firm for a project for which it won state support in 2021.

The solar power auction for the Spitalla site, just north of Durrës, a port city on the Adriatic Sea, was for 100 MW in peak capacity. The renewable energy company started construction works late last year. At the time, it scheduled the commissioning of the facility for the second half of 2027.

Similarly, Voltalia developed and built its Karavasta PV plant of 140 MW in peak terms, won at a previous solar power auction. It is the largest in Albania.

The auctions are for contracts for difference (CfDs), but the winners are actually working with power purchase agreements (PPAs) with fixed prices. A procedure is underway to secure market liquidity, which would enable the switch. Notably, the Albanian Power Exchange (ALPEX) was launched already in April 2023.

Spitalla’s CfD is for 15 years and 70 MW in peak capacity. Voltalia, headquartered in Paris, earlier said it would sell the rest of the output under a long-term contract with buyers in the private sector.

Since last year, there is more electricity generation capacity in private ownership in Albania than in the system under state-controlled utility KESH. Growth in the solar power segment is the biggest factor behind the change.

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