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 2, 2025
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GGF ushers in new wave of energy transition investments in Western Balkans with eight deals

The Green for Growth Fund has signed a series of agreements on green lending and support for major solar power and energy storage projects throughout the Western Balkans. The new commitments, backed by an investment from KfW, will lift its green financing portfolio in the region by up to EUR 176 million.

At the EU–Western Balkans Investment Forum in Tirana, held in October, GGF announced the European Union’s EUR 20 million investment in its class C shares, via Germany’s KfW Development Bank. It was accompanied by a EUR 4 million donation to the climate action fund’s capacity building and advisory facility, its advisor Finance in Motion said.

The proceeds are set to mobilize more private capital for renewable energy, energy efficiency and climate resilience across the region, the update revealed.

The Green for Growth fund signed a series of agreements at the forum for green lending, and for financing solar power and battery projects in North Macedonia, Kosovo* and Albania.

Von der Leyen: The time to invest in the Western Balkans is now

The event was attended by European Commission President Ursula von der Leyen and Albanian Prime Minister Edi Rama.

“Your economies are already set to grow rapidly in the coming years. We established the Western Balkans Growth Plan for exactly that. The EU opens sectors of its economy for your business. Together, we work on reforms for a level playing field. And alongside reforms comes investment. The Western Balkans Growth Plan aims at doubling regional GDP in the next decade. So my message to investors today is straightforward: Do not let this opportunity pass by. The time to invest in the Western Balkans is now,” Von der Leyen said.

The commitments signed within a special segment of the Tirana conference are boosting the fund’s cumulative investments into the region to more than EUR 850 million. Earlier it provided over EUR 675 million overall in green finance in the Western Balkans in support of climate action, energy security and sustainable industry.

The new commitments are expected to avoid emissions of some 175,000 tons of CO2. It is equivalent to 400,000 barrels of oil not being burnt.

Trailblazing investments ahead in photovoltaics, BESS

The Green for Growth Fund intends to provide funding for one of the first grid-scale battery projects in North Macedonia and the Western Balkans.

Renalfa IPP is about to expand its 50 MW photovoltaic plant in Oslomej, on the site of a former coal mine, with a 200 MWh battery energy storage system (BESS). GGF has already provided debt financing for the solar installation, and the two sides signed a mandate letter for EUR 24 million for the BESS investment. It is one of the investments for the transformation of the REK Oslomej coal mine and power plant complex.

Renalfa IPP’s pioneering PV plant Oslomej on coal land will get a battery facility

GGF also signed a term sheet for Quant Renewables’ solar power project in Kosovo* for 142.2 MW in peak capacity. It comprises PV plants Tucep (98.5 MW) and Veriq (43.7 MW) on land previously designated for lignite mining.

The Green for Growth Fund would support it with up to EUR 12 million in preferred equity, complementing senior debt financing led by the European Bank for Reconstruction and Development (EBRD). Set to become Kosovo’s* biggest solar park, its estimated annual output would match the electricity needs of 63,000 households.

The facility would save an estimated 168,138 tons of carbon dioxide equivalent per year (22,529 tons prorated to GGF’s investment).

The third renewables project is HD Solar Park in Albania. Through a letter of intent, GGF expressed its goal to provide up to EUR 30 million in senior debt financing. Bindi, the developer, has envisaged 60 MW of peak capacity and a co-located 120 MWh battery system. It would be one of the first large-scale solar-plus-storage initiatives in the country.

Five new deals with financial institutions for as much as EUR 110 million in total

The partner financial institutions that signed agreements with the Green for Growth Fund will channel the financing to their clients for investments in renewables, sustainable mobility, and energy and resource efficiency in buildings and industrial production.

There are five new deals for as much as EUR 110 million in credit lines and subordinated loans.

Two credit lines for partners in Kosovo*

The KRK microfinance institution in Kosovo* aims to utilize a new credit line, of EUR 5 million, for efficiency refurbishments and retrofits of the residential sector as well as small-scale renewable energy. It would be its sixth investment with the Green for Growth Fund since establishing the partnership in 2017.

BpB, the first bank in Kosovo* founded with fully local capital, finances households and small and medium-sized enterprises. Building on a previous partnership, it will channel GGF’s senior credit line of EUR 5 million into energy efficiency and renewable energy.

It will particularly benefit SMEs, including clients in the agricultural sector seeking to upgrade energy systems or invest in low-carbon vehicles, efficient equipment and modern irrigation systems, the fund added.

EUR 95 million in total for Serbian lenders

The Green for Growth Fund signed a loan agreement with UniCredit Bank Serbia for a EUR 50 million senior credit line. The focus is on commercial-scale solar and wind power, helping decarbonize Serbia’s coal-dependent electricity system.

GGF expects it to become one of the fund’s most impactful investments, by avoiding 84,550 tons of emissions in CO2 equivalent terms – equivalent to taking 44,500 cars off the road. The fund has invested EUR 115 million in UniCredit Bank Serbia to decarbonize the country’s electricity system.

Another Serbian lender in the group is AikBank, eligible for a EUR 45 million subordinated loan. The deal is for financing renewables and energy efficiency projects of corporate clients.

The bank will additionally benefit from GGF’s technical assistance for technical due diligence and environmental and social assessments, for the implementation of green energy projects in line with the best practices, the partners stressed.

ProCredit Bank in BiH is eyeing solar power projects

ProCredit Bank in Bosnia and Herzegovina is getting a subordinated loan of up to EUR 5 million, following two such facilities in 2022 and last year. The Green for Growth Fund’s investment is for maintaining the partner’s capital position and supporting the expansion of its green portfolio. The bank especially sees opportunities in solar power, where there is significant potential for BiH to catch up with regional leaders.

“We thank our investors for their continued confidence. This kind of catalytic capital drives tangible impact in Southeast Europe and shows how aligning investment with ambitious climate goals accelerates the green transition,” Finance in Motion said.

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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.
November 17, 2025
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Serbia’s EPS inks EUR 109.7 million deal for Vlasina HPPs revamp

Serbia’s power utility Elektroprivreda Srbije (EPS) signed a contract for the modernization of its Vlasina hydropower plants with Energotehnika – Južna Bačka.

The contract for the reconstruction and modernization of the Vlasina (Vlasinske) hydropower plants (HPPs), with a capacity of 129 MW, was signed by Dušan Živković (sitting first from right), Chief Executive Officer of Elektroprivreda Srbije (EPS), and representatives of Energotehnika Južna Bačka – Marko Iskrin (second from left), Executive Director for Technical Affairs, and Nikola Labus (first from left), Deputy Executive Director for Financial Affairs.

Of note, in mid-July, Hungarian state-owned energy company MVM became the majority owner of Energotehnika – Južna Bačka.

The total value of the project is estimated at EUR 109.7 million. It envisages the reconstruction and modernization of generation units, auxiliary systems, and hydromechanical equipment. The main equipment suppliers are Andritz Hydro and Gamesa Electric, EPS said.

Financing has been secured through a EUR 67 million loan from the European Bank for Reconstruction and Development (EBRD), a EUR 15.4 million grant from the European Union via the Western Balkans Investment Framework (WBIF), and EPS’s own funds in the amount of EUR 27.2 million.

The capacity of the Vlasina HPPs would be increased by 8 MW

“On the day when the Vlasina HPPs celebrate their 70th anniversary, we officially start the project of their modernization. The result would be an increase in the installed capacity by 8 MW and reliable operation for the next three to four decades,” Dušan Živković underlined.

He recalled that the Vlasina HPPs are unique plants in the EPS portfolio. They operate in a cascade system, generating electricity four times one after the other and representing a significant source of peak energy.

The Vlasina HPPs began operating in 1955

According to Milan Aleksić (second from left in back row), advisor to the Minister of Mining and Energy for capital projects, investments are key to securing an electricity supply amid growing demand and the need to rely more on renewable energy sources.

Vlasina started its operations on November 6, 1955, with the commissioning of the first unit at the Vrla 1 hydropower plant.

The system consists of the Vlasina lake – reservoir, four cascade run-of-river hydropower plants, and the Lisina pumping station with the Lisina reservoir. Since the start of operation, the plants have produced more than 17 million GWh.

The signing was also attended by Francesco Corbo (first from left in back row), Regional Head of Energy for the Western Balkans and Croatia at the European Bank for Reconstruction and Development (EBRD).

Photo: EPS/Nenad Kostić
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September 16, 2025
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Coal plant operator KEK to begin construction of Solar4Kosovo PV plant

Government-controlled Kosovo Energy Corp. (KEK) said it is preparing to start building its Solar4Kosovo 1 photovoltaic plant near Prishtina. It informed the local community that agricultural and other activities weren’t allowed anymore on the designated land.

After four years of planning. a former coal ash dump is about to be turned into the biggest solar power plant in Kosovo*. KEK is running the Solar4Kosovo 1 project at a site near its Kosovo A power plant near Prishtina.

The area is in the municipalities of Obiliq (Obilić) and Fushë Kosovë (Kosovo Polje). The government-owned power utility said it is preparing to begin construction works. The project is for 100 MW in connection capacity, translating to 120 MW in peak capacity.

The update mainly affects residents of Dardhishtë and Mërlak in Kryshevc (Kruševac) in Obiliq municipality. Agricultural and other activities aren’t allowed anymore, the company announced. It explained that so far it tolerated the use of its property there by the local community.

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.

Notably, Kosovo* is dependent on the obsolete Kosovo A and Kosovo B coal plants for almost all its electricity.

The other part of the Solar4Kosovo project is for a solar thermal facility for the capital city’s district heating system. The site is in the village of Shkabaj (Orlović) in Obiliq municipality. The investment includes a 20 MW network extension.

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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.
May 17, 2025
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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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