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Battery storage market in SEE emerging, Western Balkans lagging behind with positive prospects

The deployment of battery energy storage systems (BESS) across Southeast Europe is progressing at an uneven pace. State subsidies and financing mechanisms have enabled the rapid implementation of BESS solutions in Greece, Romania and Bulgaria, while markets in the Western Balkans are lagging behind. However, the outlook remains positive, as experiences from neighboring markets and best practices from other parts of the European Union can help overcome initial challenges and streamline the deployment process. This was highlighted by participants of the panel dedicated to BESS at the Belgrade Energy Forum.

Among the technologies required for the energy transition, battery energy storage systems (BESS) stand out as a key factor for integrating electricity from intermittent renewable sources – wind and solar power – into the grid. There are few such facilities in Southeastern Europe and the segment is yet to even be fully regulated in the narrower Western Balkans region. The panelists at a session called Energy storage system market in SEE: trends and forecasts, at Belgrade Energy Forum (BEF 2025), outlined the trends in the budding market.

There are more and more cases of low and negative hourly prices in the wholesale electricity market in the region, providing a clear business case for BESS investments. In addition, the grid is often overloaded on weekends and holidays when solar and wind power production is high, given the weak demand.

Managing Director of Go2Power Consulting Goran Vukojević, who moderated the discussion, warned that negative prices may jeopardize system stability as well, if operators of power plants disconnect them from the grid at the same time, to avoid costs.

He highlighted the preparations in Serbia’s transmission system operator Elektromreža Srbije (EMS) for auctions for ancillary services and praised the company for transparency in regulating the competitive process. The other option for battery operators is to participate in the open market.

Managing Director of Go2Power Consulting Goran Vukojević moderated the panel discussion

Region seen with 9 GW of BESS operating power in 2030

Ioanna Barouni from Aurora Energy Research said a total of 40 GW of solar and wind power is expected to be online at the end of 2025 in the SEE region, comprising 12 countries, including Hungary. In 2030, the level is expected to reach 70 GW, which is expected to be doubled to 145 GW by mid-century. As for BESS, projections stand at 9 GW in 2030 and 25 GW in 2050.

Barouni: We miss flexibility and ancillary services for transmission and distribution system operators

The countries of the region are retiring power plants that use fossil fuels, a firm capacity, in Barouni’s words, while adding renewables. “It’s not very easy to predict how the generation profile is going to be during the day, so we miss flexibility and we miss ancillary services for TSOs and DSOs,” she said.

The gap between power prices for midday and the evening is gradually increasing. Barouni explained that batteries “create some artificial demand and absorb these low prices.” At peak demand and with less renewables, a battery can replace expensive fossil fuels, lowering the price.

Ioanna Barouni from Aurora Energy Research (pictured left) and Head of Specialized Lending at UniCredit Bank Serbia Svetlana Cerović

Serbia preparing auctions for ancillary services

Division Manager of transmission system operator (TSO) EMS Nikola Tošić acknowledged that Serbia is preparing auctions for ancillary services. He revealed that there would probably be one auction for 70% of the needed reserve in the first year. The next rounds would be more frequent, shifting toward daily auctions for balancing capacity.

In the verification process, EMS’s System Operation Department will first test the battery, Tošić added. State-owned power utility Elektroprivreda Srbije (EPS) already provides ancillary services to the TSO, so it won’t require tests, he asserted.

Serbian law defines ancillary services the same as European Union does

EMS drafted the new grid code, and it will publish the draft balancing market code for public discussion soon, according to Tošić. He said the domestic law defines ancillary services in the same way as the EU defines them in its legislation. One part is balancing services: frequency containment reserve (FCR, primary), automatic frequency restoration reserve (aFRR, secondary) and manual frequency restoration reserve (mFRR, tertiary). The other part are non-frequency services – energy.

“We think that it would be good to incentivize the periods of the year or periods of day when the needed amount of reserve is more attractive or more in demand,” Tošić said.

Market Division Manager of EMS Nikola Tošić

Fortis Energy moving ahead with battery investments regardless of government support schemes

Fortis Energy’s Chief Executive Officer for Eastern Europe Nikola Oklobdžija considers the lack of regulation to be the biggest challenge for developers. An investor can currently only focus on charging the batteries when the prices are low and sell when they are high, he underscored.

The Turkey-based company develops photovoltaic, wind power and BESS projects in the region. The first bigger investments in renewable electricity plants with energy storage are the ones that will break the ice, in Oklobdžija’s opinion.

“Of course, it helps if you have a CfD contract, so the banks will look at it more favorably,” he stated. Oklobdžija added that companies need to be able to present revenue to the lenders and what the fees are for renting the capacity or providing different services.

Bankability depends on state support and PPA contracts, cash flow models and insurance

In the meantime, Fortis is examining the experiences in Bulgaria and Greece, which have already held auctions for standalone batteries. Financing a project is easier with a CfD – contract for difference, but the company is determined to push ahead anyway, Oklobdžija stressed.

In North Macedonia it commissioned a solar power plant in Oslomej and recently contracted a BESS to be added to the facility. Oklobdžija said it wasn’t a requirement but that Fortis opted for energy storage because of market pressure with prices and occasional curtailments, like during Easter last month.

The introduction of ancillary services would facilitate the development for standalone battery systems, he explained.

Fortis Energy’s CEO for Eastern Europe Nikola Oklobdžija

Cerović: First there will be more projects for colocated BESS units than for standalone facilities

Head of Specialized Lending at UniCredit Bank Serbia Svetlana Cerović highlighted the intensive activity in Germany and Italy, for instance, but also in neighboring Romania. UniCredit is present in those markets and is analyzing the development of the battery storage market, she pointed out, arguing that the best practices in the EU are the best way for building and financing battery storage.

Cerović said there would first be more projects in the region for BESS colocated with renewable energy plants than standalone units.

She suggested that the proposed investments that include storage should be better pondered at the next renewable energy auction in Serbia. It is in the country’s interest to enable providing flexibility and to support the projects, she said.

There may be a rationale for subsidizing prosumers to add storage in Serbia, Cerović said. Turning to small-scale projects, she expressed the belief that power purchase agreements (PPAs) are “convenient” for them. She is recommending dedicating a certain capacity for the category at the next auction in the country.

The first projects in Serbia, conditioned by energy storage requirements for a grid connection, are in the process of negotiating financing, according to Cerović.

Fire protection is especially significant for insurers

Renewable Energy Insurance Broker (REIB) has insured some 4 GWh of energy storage capacity in Bulgaria and just as much elsewhere in the world, Business Development Manager Dimitar Dimitrov said. Developers should contact insurance companies when the design is done, as well as for cargo insurance, he suggested and added it is particularly important for projects that get subsidies.

“We’re not only insurance brokers, but we’re also investors, which helps us understand a bit more about the clients’ needs, and what we can definitely do more in cases of coverage. Understanding clients’ needs helps us also prevent risks that could occur during certain stages,” Dimitrov stated.

Most insurers prefer at least a six-meter distance between containers or rows of three to four containers holding batteries, he said. It is the most important factor in fire protection, in Dimitrov’s opinion. When the distance is shorter than three meters, a firewall is required for insurance, he explained.

REIB’s Business Development Manager Dimitar Dimitrov

The next segment is construction insurance. For insurance companies, it is not a higher risk profile, Dimitrov asserted. Next, he recommended operational risk insurance including coverage for business disruption, and insurance against cyberattacks. In such events, the grid connection can be damaged, the company’s representative pointed out. “Insurance policies are definitely bankable,” he added.

Bulgaria has completed its tenders for state support to BESS combined with renewable energy plants, and for standalone units. But even before subsidies, batteries have been delivered and facilities are under construction, Dimitrov stressed. Many photovoltaic projects in Bulgaria have emerged in the past few months and most of them include BESS, he said.

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Works beginning on North Macedonian side of gas interconnector with Greece

The North Macedonian section of the gas interconnector with Greece is expected to be completed by early 2027. The construction contract was signed by the Ministry of Energy, Mining and Mineral Resources, domestic contractor Rapid Build and the country’s gas transmission system operator Nomagas.

The construction of the gas pipeline connecting North Macedonia with Greece is set to begin in a month, according to officials. Land expropriation is 90% complete. The initial capacity of the interconnector would be 1.5 billion cubic meters per year, with a potential to double it. The works are expected to be completed within 22 months.

„With the signing of the contract for the construction of the Macedonian section of the gas interconnector with Greece, we are marking the beginning of the largest energy investment in North Macedonia in the last ten years. The interconnector is proof that when there is political will, regional trust, and professional dedication – the results are real and tangible,” said Minister of Energy, Mining and Mineral Resources Sanja Božinovska.

The contract was signed by the ministry, contractor Rapid bild, based in Kumanovo in North Macedonia, and the country’s gas transmission system operator Nomagas. The future pipeline would be able to carry both natural gas and hydrogen.

Repeated tender slashes price by EUR 12 million

The winning bid was EUR 59.9 million or EUR 12 million less than in the initial tender, which was annulled.

The project is worth over MKD 5.1 billion (EUR 82.9 million). It is financed by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). It includes grants of EUR 2.5 million for technical assistance and another EUR 9.9 million via the Western Balkans Investment Framework (WBIF).

The project is financed by the EIB and EBRD

„This contract ensures diversification and access to a greater number of natural gas sources, enables economic development, progress and environmental protection, and contributes to the security of energy supply,” said Executive Director of Nomagas Muhamet Elmazi.

Gasification would significantly improve air quality, especially in areas where wood and fuel oil are currently used for heating.

Greek section of interconnector under construction since February

On the North Macedonian side, the interconnector route is 68 kilometers long, out of a total of 123 kilometers. It will run from Nea Mesimvria in Greece through Evzoni (Mačukovo) and Gevgelija at the border, to Negotino. The next phase involves building gas links from Gostivar to Kičevo (34 kilometers) and from Sveti Nikole to Veles (28 kilometers).

Greek company Terna began constructing its country’s section of the pipeline in February.

Nomagas and Greece’s National Natural Gas System Operator (DESFA) made their final investment decision a year and a half ago.

The companies leaned the investment on the project for the Alexandroupolis LNG Terminal. The liquefied natural gas facility in northeastern Greece was opened on October 1. However, due to a malfunction, it has been out of operation for more than three months. According to the latest update, gradual reactivation is expected to begin by the end of May.

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Electricity system in Spain, Portugal collapses

Power was out today throughout Spain and Portugal as well as in Andorra and parts of southern France, in one of the most serious such incidents so far, on a European scale. The European Commission’s Executive Vice President Teresa Ribera and other officials from the EU and the affected countries said there are no indications of sabotage or cyberattack.

Grid operators and electricity producers are gradually restoring the power supply after a massive outage struck the Iberian peninsula today. Prime Minister of Spain Pedro Sánchez convened the National Security Council. It is one of the most serious blackouts in Europe in many years. The outage spread throughout Spain and Portugal.

Power was out in Andorra and, briefly, in parts of southern France. Transportation and telecommunications were heavily affected.

Spanish TSO Red Eléctrica de España called it a “collapse of the Iberian electricity network.” The company said it would take six to ten hours to restore it. Notably, the production system is relying almost completely on photovoltaics and wind farms at the moment, so just a few hours of solar power production remain.

The outage paralyzed major cities including Madrid, Barcelona and Lisbon and caused disturbances in the European grid. The European Commission’s Executive Vice President for Clean, Just and Competitive Transition and Commissioner for Competitiveness Teresa Ribera said there were no indications that “any kind of sabotage or cyberattack” was behind the grid collapse.

According to the Government of Portugal, the incident started from outside the country

According to the Government of Portugal, the incident started from outside the country and, apparently, in Spain.

Shares of solar, wind power production in Spain breaking records

In the spring and autumn, when there is little to no demand for heating or cooling, electricity grids in most of Europe are sometimes strained from surges in high solar and wind power production, amid a lack of energy storage and flexibility capabilities that would balance the surplus.

On April 16, the Spanish electricity system achieved total coverage for the first time with renewable energy sources. At one point during the day, wind and solar met 100.6% of demand. Then on April 21, solar power generation was equivalent to a record 78.6% of domestic demand for a moment.

Reid: The massive outage occurred while prices are negative in electricity markets across Europe

“Spanish grid operator Red Eléctrica has so far blamed a power ‘oscillation’ on the power outage. We still don’t know the cause but it looks like problems at the Spanish-French power interconnector led to the Spanish grid operator islanding their power system and I would say at this point they lost control,” said Gerard Reid, investor and strategic advisor in energy, finance and geopolitics.

It has also proven difficult to restore power with multiple black start (restart) procedures taking place, but the issue is that at the time of the blackout there were no conventional power units in operation, he pointed out. Reid added it makes the restart complicated and stressed that Europe requires enhanced grid-scale battery storage solutions, including for black start capabilities.

He also highlighted the fact that the massive outage occurred while prices are negative in electricity markets across Europe.

Of note, a grid incident last summer left much of the Western Balkans and parts of Croatia out of power for several hours.

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CEO of Kosovo* TSO KOSTT dismissed amid allegations of abuse of office

The Board of Directors of Transmission, System and Market Operator (KOSTT) of Kosovo* fired Chief Executive Officer Evetar Zeqiri after a complaint that former board members sent to the Special Prosecutor’s Office surfaced in the media. The company appointed Shaban Neziri as acting CEO.

Evetar Zeqiri is dismissed from the top position in KOSTT, the transmission system operator (TSO) of Kosovo*, but also fired. The board deposed the CEO, who led the government-controlled company since October 2022, and replaced him with Shaban Neziri, in an acting capacity.

Just before the announcement, the Dukagjini television station showed criminal charges that former board members allegedly filed with the Special Prosecutor’s Office against Zeqiri for abuse of office. KOSTT denied the connection between its move and “the reports published in some media.”

Allegations of interfering in procurements

According to the document, the former CEO violated his obligations regarding finance, interfered in procurement, set discriminatory criteria and demanded that all technical specifications for the company’s projects be sent to him in advance. The allegations include influence to make illegal decisions and failing to properly inform the board, causing financial damages to the company. Zeqiri has asked legal entities to withdraw their bids, during evaluation, according to the report.

The authors of the complaint, who weren’t named, said they raised concerns several times, but that they were a minority within the board and that both its then-Chairman Jeton Mehmeti and CEO Zeqiri blocked them.

KOSTT cites poor personnel management, investment

The same media outlet obtained the decision to remove Zeqiri. The board said his personnel changes impacted the functioning of the enterprise’s operational structures and the motivation of the staff. It cited unsatisfactory capital investment and improper planning of projects in the budget.

Acting CEO Neziri is an electrical engineer, in KOSTT since its establishment.

From 2021 to 2024, Kosovo* imported electricity worth nearly EUR 590 million in total, according to Klan Kosova. One of the main importers is Noa Energy Trade, a company with an apparently unknown address and owner.

Notably, government-owned Kosovo Energy Corp. (KEK) has been led by acting CEOs for the past two years, since CEO Nagip Krasniqi was arrested. The current interim head is Gramos Hashani.

* 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.
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North Macedonia’s MEPSO seeks contractor for power line to Albanian border

Transmission system operator MEPSO launched an international tender for the construction of a 400 kV transmission line, the North Macedonian part of a planned interconnection with Albania. The company earlier canceled the contract with Energoinvest, which began building it four years ago.

State-owned MEPSO said the project is of great importance for the energy stability of North Macedonia and regional integration. The tender is for the construction of an overhead transmission line of one hundred kilometers from the Bitola 2 transformer station to the North Macedonian – Albanian border.

The call was issued after the cancellation of the contract under which construction initially began in 2021.

North Macedonia, Albania waiting over three decades for electricity interconnection

The investment is valued at EUR 17 million. The project is funded through a loan from the European Bank for Reconstruction and Development (EBRD) and grants from the European Union.

The North Macedonian part of the interconnector with Albania is scheduled to be completed by the end of 2027

„I regret that for more than three decades, despite political pluralism and democratic changes, there was no institutional courage and vision to establish an electricity connection with Albania. Today, we are correcting this historical omission,” said Burim Latifi, Director-General of MEPSO.

The transmission line is expected to be completed by the end of 2027, with construction set to begin in early 2026, according to the country’s electricity transmission system operator (TSO).

The deadline for submitting bids is 45 days, and the selection of the most favorable bidder is expected in the third quarter of 2025, MEPSO added.

Latifi: Energoinvest jeopardized power line project

The company claimed the previous contractor, Energoinvest from Bosnia and Herzegovina, jeopardized the project and public interest through unjustified requests for additional funds and by unilaterally abandoning the site, leading to the termination of the contract.

So far, only a small portion of the planned towers for the transmission line has been constructed.

„We encountered a seriously neglected project. Out of 269 planned foundations for transmission towers, only 24 were completed, clearly showing the lack of seriousness in completing the project,” Latifi stated.

The funds spent so far were used for equipment procurements

Energoinvest has received EUR 5.8 million, of which EUR 2.5 million was recovered through bank guarantees, he added. Latifi clarified that the funds were used for procuring equipment, now owned by MEPSO.

The company pointed out that the power line would be part of the proposed East-West energy corridor, connecting Bulgaria, North Macedonia, Albania and Montenegro, which is linked with Italy by an undersea cable.

„The construction of this interconnector will position our system as an essential part of European electric power infrastructure, enabling stable participation in regional markets, access to system and balancing services, and providing more secure and economical energy supply for all citizens,” MEPSO states.

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Electricity system in Spain, Portugal collapses amid extreme temperature variations

Power was out today throughout Spain and Portugal as well as in Andorra and parts of southern France, in one of the most serious such incidents so far, on a European scale. The European Commission’s Executive Vice President Teresa Ribera and other officials from the EU and the affected countries said there are no indications of sabotage or cyberattack.

REN, the transmission system operator (TSO) of Portugal, said extreme temperature variations inside Spain led to anomalous oscillations in 400 kV lines.

Grid operators and electricity producers are gradually restoring the power supply after a massive outage struck the Iberian peninsula today. Prime Minister of Spain Pedro Sánchez convened the National Security Council. It is one of the most serious blackouts in Europe in many years. The outage spread throughout Spain and Portugal.

Power was out in Andorra and, briefly, in parts of southern France. Transportation and telecommunications were heavily affected.

Spanish TSO Red Eléctrica de España called it a “collapse of the Iberian electricity network.” The company said it would take six to ten hours to restore it. Notably, the production system is relying almost completely on photovoltaics and wind farms at the moment, so just a few hours of solar power production remain.

Outage could have originated from power line in France damaged by fire

The outage paralyzed major cities including Madrid, Barcelona and Lisbon and caused disturbances in the European grid. The European Commission’s Executive Vice President for Clean, Just and Competitive Transition and Commissioner for Competitiveness Teresa Ribera said there were no indications that “any kind of sabotage or cyberattack” was behind the grid collapse.

According to the Government of Portugal, the incident started from outside the country

According to the Government of Portugal, the incident started from outside the country and, apparently, in Spain.

Portuguese transmission system operator REN first suggested that damage to a high-voltage line in southwestern France from a fire was a possible cause. The company later blamed extreme temperature variations inside Spain for anomalous oscillations in 400 kV lines.

Shares of solar, wind power production in Spain breaking records

In the spring and autumn, when there is little to no demand for heating or cooling, electricity grids in most of Europe are sometimes strained from surges in high solar and wind power production, amid a lack of energy storage and flexibility capabilities that would balance the surplus.

On April 16, the Spanish electricity system achieved total coverage for the first time with renewable energy sources. At one point during the day, wind and solar met 100.6% of demand. Then on April 21, solar power generation was equivalent to a record 78.6% of domestic demand for a moment.

Reid: The massive outage occurred while prices are negative in electricity markets across Europe

“Spanish grid operator Red Eléctrica has so far blamed a power ‘oscillation’ on the power outage. We still don’t know the cause but it looks like problems at the Spanish-French power interconnector led to the Spanish grid operator islanding their power system and I would say at this point they lost control,” said Gerard Reid, investor and strategic advisor in energy, finance and geopolitics.

It has also proven difficult to restore power with multiple black start (restart) procedures taking place, but the issue is that at the time of the blackout there were no conventional power units in operation, he pointed out. Reid added it makes the restart complicated and stressed that Europe requires enhanced grid-scale battery storage solutions, including for black start capabilities.

He also highlighted the fact that the massive outage occurred while prices are negative in electricity markets across Europe.

Of note, a grid incident last summer left much of the Western Balkans and parts of Croatia out of power for several hours.

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Episodes of negative power prices in Slovenia, Romania spread to workdays

Romania registered the first negative day-ahead electricity price for a workday. The phenomenon, which only used to occur on holidays and weekends, has emerged in Slovenia as well.

In spring and autumn, most of Europe occasionally faces periods of excessive power grid loads. The rapid rise in solar and wind power production and the lack of accompanying energy storage and flexibility capabilities are straining the system at times when demand is low. Advanced electricity markets countered the issue by introducing negative prices.

When prices hit zero or go below zero, the seller delivers electricity without compensation or even has to pay to the buyer, respectively. The phenomenon was normally reserved for holidays and weekends, but more day-ahead markets are now experiencing it for workdays as well.

Downward pressure in Romania from strong inflow of negatively priced electricity via Hungary

Romania saw its first such episode yesterday, on Sunday, in the session for today, Profit.ro reported. Prices in its day-ahead market are negative in five out of 24 periods of one hour, between 11:00 and 16:00.

The country is importing at almost 2 GW via Hungary and exporting at up to 1.5 GW to Bulgaria, the news website added. The article notes that renewable energy producers, especially in Germany, where prices are also negative, are exporting to other markets to ease the impact. They usually benefit from subsidies, so generating electricity isn’t necessarily unprofitable even when they sell at a loss.

In addition, shutting down and restarting power plants can be more costly than paying the other side to take excess output.

The level in Romania went to as low as EUR 6.18 per MWh below zero. But the daily average is EUR 76.54 per MWh. The peak, is EUR 198.16 per MWh, between 20:00 and 21:00, when there is no sunlight and prosumers only consume.

Negative prices turn Slovenia’s HSE into electricity consumer

Prices in Slovenia for today also came in negative between 11:00 and 16:oo, which is very rare for a workday, Naš stik reported. Among other factors, the two-day May 1 holiday shortens the current workweek. The lowest, between 14:00 and 15:00, is EUR 6.18 euros per MWh below zero.

In comparison, the lowest price for Sunday on the BSP Southpool exchange was EUR 104 per MWh under zero.

At one point during the Easter holiday, virtually all HSE’s production capacities were offline and the Avče pumped storage hydropower plant was storing electricity from the grid

“Last year, we had 219 hours in Slovenia when prices were negative. This year, we are already at number 72, and we have only just entered the critical period,” said Deputy Director of System Operations of ELES Aleš Donko. The company is Slovenia’s transmission and distribution system operator.

State-owned power utility Holding Slovenske elektrarne (HSE) found itself in an unusual situation during the Easter holidays because of negative prices.

“For a while, we were actually an energy consumer, not a producer, which is our core mission… Virtually all our power plants were shut down, and the Avče pumped storage hydropower plant was pumping water into the upper reservoir at full capacity,” Head of Operation Planning and Management Jernej Brglez said.

Portugal and Spain, which suffered major outages today together with France, both registered negative prices every day in the third week of April.

Also of note, Greece is preparing to introduce negative prices in the balancing market.

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Minister Admir Šahmanović formally assumes energy, mining portfolio in Montenegro

Prime Minister of Milojko Spajić has merged two ministries, so Minister of Mining, Oil and Gas and Coordinator of the Ministry of Energy Admir Šahmanović took the helm at the joint energy and mining portfolio. Among his primary responsibilities are the completion of the domestic part of the Trans-Balkan Electricity Corridor, the installation of the second line of the Monita submarine interconnector with Italy and power market coupling with the European Union.

The Parliament of Montenegro elected Minister of Energy and Mining Admir Šahmanović. He led the Ministry of Mining, Oil and Gas in  since July. As Minister of Energy Saša Mujović was elected mayor of the capital Podgorica, Šahmanović recently took over as coordinator,

Prime Minister Milojko Spajić now formally merged the two ministries again. “If we complete the Trans-Balkan Corridor – only a few kilometers are left, the second line of the underwater cable toward Italy, Montenegro is becoming the cooperation bridge between the Balkans and the EU,” he said in the national assembly, promoting Šahmanović.

The list of priority energy infrastructure, adopted in December, also includes the Komarnica and Kruševo hydropower projects, the Ionian-Adriatic Pipeline (IAP), a subsidy scheme for rooftop solar power plants, energy efficiency measures and a floating solar power unit.

The Trans-Balkans Electricity Corridor is a project for upgrading transmission systems in Serbia, Bosnia and Herzegovina and Montenegro. The proposed lines run from Romania to the Monita subsea interconnector with Italy.

Admir Šahmanović will participate in the first panel discussion within Belgrade Energy Forum (BEF 2025), organized by Balkan Green Energy News. The two-day conference in Serbia, starting on May 14, is the central meeting point for representatives of regional and international institutions, organizations and the business community from the region, Europe, and beyond.

Minister has master’s degree in financial management

The minister said earlier this month that current photovoltaic and wind power projects would boost Montenegro’s electricity capacity fivefold, to 5 GW. Admir Šahmanović, born in 1985, has a master’s degree in financial management. He is in the leadership of the Bosniak Party.

Early in his career, he worked in PricewaterhouseCoopers in both Montenegro in Serbia, in Montenegro’s ministries of sustainable development and tourism and public administration, and the British Council in Podgorica. The current minister has experience in managing funds received from the European Union.

Šahmanović entered energy policy sphere in 2022

Three years ago, Šahmanović was named state secretary in the Ministry of Capital Investments, which included the energy portfolio. He participated in the negotiations on the EU accession and on obtaining loans from international financial institutions.

According to his official biography, the minister has promoted sustainable energy and transportation and environmental protection and worked on the country’s strategic documents and action plans.

Additionally, Šahmanović has managed EU-funded projects for wastewater purification and green energy.

Last month he oversaw the adoption of the new Law on Energy.

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Feasibility study complete for Romania’s East-West underground high-voltage line

A project for underground high-voltage power link East-West across Romania entered a new phase with the completion of the feasibility study. It would run alongside existing energy infrastructure.

A year and a half after Minister of Energy Sebastian Burduja declared the project for a high voltage direct current (HVDC) line across Romania “the number one priority,” the feasibility study is complete. Notably, he estimated at the time that it would be done within six months and that the interconnection had to be installed by 2029.

The East-West Interconnector (Est-Vest) project is entering the next phase. It is planned to run underground from the Black Sea coast to the border with Hungary. The endeavor includes utilizing existing infrastructure corridors such as the BRUA and Tuzla-Podișor gas pipelines.

It saves significant time on permits, lowers costs and reduces environmental impact, the ministry pointed out. The project partners are Romania’s transmission system operator Transelectrica, Abu Dhabi National Energy Co. (TAQA) from the United Arab Emirates, the French Meridiam and domestic company E-Infra.

Italian consultancy and engineering services provider CESI conducted the study. It launched the task in May last year.

Burduja: No time to waste in making Romania net exporter of electricity

Minister Sebastian Burduja said it is one of the most ambitious energy infrastructure projects in Central and Eastern Europe. The new study marks an essential stage in Romania’s transformation into a regional energy hub and a strategic actor in Europe’s energy security, he claimed.

“We have no time to waste. We will accelerate all the necessary steps for Romania to become a net exporter of clean energy and a pillar of stability in the region. Moreover, the project is vital for the modernization and balancing of Romania’s electricity transmission network and will ensure the evacuation of significant quantities of electricity that will be generated following the completion of Romania’s strategic investments in units 3 and 4 of the Cernavodă nuclear power plant, as well as in the offshore and onshore wind projects in the Dobruja area,” Burduja stated.

The East-West HVDC will be able to cary electricity from the Cernavodă nuclear power plant as well as from future wind projects in the east

Internationally, the project contributes to strengthening the integration of the regional and European energy market and increasing the security of supply to consumers in the southeastern part of Europe, according to the minister. It contributes to the possibilities for exporting electricity to neighboring countries, he noted.

The project is an integral part of the Green Corridor, which is supposed to connect Azerbaijan, Georgia, Romania and Hungary, as well as other countries in the region. The project includes the proposal for an HVDC cable that would run under the Black Sea.

Energy security comes first

The ministry’s objectives are a secure energy supply, at affordable prices, and for Romanians and the economy, and the energy to be green – all in the same order.

HVDC is currently the prevailing technology for long-distance power transmission. The East-West interconnector is supposed to pass through Bucharest.

The cable would allow the transmission of green energy produced in Romania – including from future offshore wind farms in the Black Sea – to domestic and consumers in other European Union member countries. It will also allow Romania to get green energy from Azerbaijan when there is a deficit in the national power system, the ministry added.

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Turkey pushing against rivals for transmission of green electricity to EU

Turkey’s agreement with Azerbaijan, Georgia and Bulgaria on the transmission of renewable electricity could set back the project for an interconnector under the Black Sea between Georgia and Romania. In addition, President Recep Tayyip Erdoğan’s government fiercely opposes the Great Sea Interconnector project, part of the proposed Greece-Cyprus-Israel submarine link. Turkey is also pushing against rival hydrocarbon projects around Cyprus.

On the margins of the Southern Gas Corridor (SGC) annual meeting, a regional green energy project has come to the fore. Ministers of energy of Turkey, Bulgaria, Georgia and Azerbaijan, the host country, signed a memorandum of understanding on green electricity transmission and trade. The initiative envisages the establishment of a green energy corridor toward Europe.

The proposal for a power interconnections upgrade is an apparent competitor against a project by Romania, Georgia, Azerbaijan and Hungary. They plan to lay a high-voltage direct current (HVDC) cable under the Black Sea. Bulgaria does have a seat at the table, but even after several meetings it still hasn’t become a partner in the GECO submarine link project. The alternative onshore line through Turkey would give it a central role.

Bulgaria, which has been waiting to become a partner in the Black Sea submarine interconnection project, would get a central role in an onshore power transmission corridor that would go through Turkey

President Recep Tayyip Erdoğan’s government is determined to establish the key transmission and production hub for electricity and fossil fuels for the European Union. The new memorandum is another indicator, together with Turkey’s fierce opposition to the Great Sea Interconnector project, which is part of a proposed Greece-Cyprus-Israel submarine power link, and to hydrocarbon drilling around Cyprus.

Turkey also benefits from the TurkStream pipeline, which carries gas from Russia. It was built instead of the abandoned South Stream project, which was supposed to directly connect Russia and Bulgaria.

Studies to be commissioned by June

Turkish Minister of Energy and Natural Resources Alparslan Bayraktar said electricity from Azerbaijan and the region would reach his country via Georgia as well as Azerbaijan’s exclave of Nakhchivan. It means a line would go through Armenia.

The four energy ministers said a working group would complete the technical details and commission feasibility studies already by June.

Azerbaijani President Ilham Aliyev said his country would add 6.5 GW of renewable energy capacity by 2030, compared to the current 8 GW, from all sources. One of the biggest private investors is Abu Dhabi Future Energy Co. (Masdar).

TANAP’s capacity to be doubled

Turkey is diversifying its energy supply, Bayraktar noted. “Our natural gas imports from Turkmenistan, which started on March 1, are an important step towards the goal of securing our own supply while also carrying Central Asian energy to European markets,” he stated.

The minister highlighted the goal to increase the capacity of the Trans Anatolian Natural Gas Pipeline (TANAP), part of the Southern Gas Corridor, to 31 billion cubic meters per year from 16 billion.

Tensions rising as seabed survey for Great Sea Interconnector to resume

The NG Worker vessel is returning to carry out seabed surveys east of Greece’s Kasos-Karpathos island area, Energypress reported. The activity, part of the Great Sea Interconnector, was interrupted again in February after a Turkish corvette approached the ships NG Worker and Ievoli Relume.

After research was completed in the territorial waters of Greece and Cyprus, the last section is in international waters. Türkiye Gazetesi learned from security sources that Turkey wouldn’t allow “such a fait accompli.” The unnamed sources said the seabed survey is a breach of international law.

The power link project has also faced delays due to disputes around financing and it still risks losing a massive EU funding package. Turkey is promoting the idea of a cable connecting Cyprus to its own electricity transmission network instead.