Eksim Energy, which operates one of the biggest solar power plants in Turkey, commissioned the first part of its Yozgat wind farm. The company based in Istanbul has surpassed 1 GW in installed capacity. Eksim Energy (Enerji) is accelerating its expansion in the green energy sector in Turkey – the company said it has received […]
North Macedonia’s power utility Elektrani na Severna Makedonija has secured a EUR 1.5 million grant to strengthen its capacity and accelerate the energy transition. Elektrani na Severna Makedonija (ESM) made a major step toward a market-driven green transformation with a grant implementing agreement with Germany’s KfW Development Bank. The agreement formalizes a EUR 1.5 million […]
The results of exploration at the Vinkovci GT-1 well have confirmed the area’s significant geothermal potential, Croatian Hydrocarbon Agency said. Maximum temperature is 131 degrees Celsius. Vinkovci is the third location in Croatia with positive results, as reservoir temperatures exceeding 100 degrees were earlier confirmed in Velika Gorica and Osijek, Croatian Hydrocarbon Agency revealed. The […]
Russian oil producer Lukoil said it intends to sell its international assets due to US sanctions and that it has already begun reviewing bids. The company’s foreign subsidiaries include oil refineries in Bulgaria and Romania, as well as fuel retail chains across Southeast Europe. The sale of Lukoil’s international assets is being carried out under […]
Russian oil producer Lukoil has accepted an offer from global commodities trader Gunvor Group Ltd. to acquire its international assets, which were put up for sale due to sanctions imposed by the United States over the war in Ukraine. The assets include oil refineries in Bulgaria and Romania, as well as fuel retail chains across […]
Sofia-based Sunotec signed an agreement with oil and gas major Shell on the development of battery energy storage systems in Central Eastern Europe. Sunotec is developing projects for large solar and battery energy storage systems (BESS) in Europe while Shell is one of the leading oil and gas companies in the world. Sunotec said it […]
The number of power purchase agreements in Europe decreased by 60% compared to the same period last year, while contracted capacity has dropped by 40%, according to RE-Source Platform. Europe’s power purchase agreement (PPA) market is facing headwinds in grid development, permitting and electrification and from negative electricity prices, RE-Source Platform warned. RE-Source Platform facilitates […]
The Council of the European Union upheld the proposed 90% emissions cut target for 2040 ahead of the United Nations Climate Change Conference COP30 in Brazil, but with substantial workaround possibilities. In addition, the environment ministers failed to define the 2035 ambition, leaving the desired reduction in the amount of released greenhouse gases in a […]
Power utility Elektrani na Severna Makedonija estimated that it requires EUR 3 billion by 2040 to replace electricity from its lignite-fired power plants. According to member of the Board of Directors Ivan Stojanovski, the state-owned company is preparing investments in gas power plants, solar, wind, hydropower and energy storage. He highlighted its plans for a […]
Public consultation is underway in Cyprus for environmental impact assessment (EIA) studies for three projects for photovoltaic units, of 14.5 MW in total peak capacity, with 40 MWh in battery storage. The developer, SAOLA, plans several such investments. It is facing opposition from the local population and environmentalists. The electricity system in Cyprus is severely […]