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October 17, 2025
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Montenegro’s EPCG to develop floating solar, thermal batteries, high-altitude wind turbines

Montenegrin state-owned power utility Elektroprivreda Crne Gore has signed memoranda of understanding with Akuo, E2S Power AG, and wind fisher for a floating solar power plant, thermal batteries, and a pilot project for high-altitude wind turbines, respectively.

Memoranda of understanding (MoUs) were signed within the framework of the European Union – Montenegro Investment Conference. Domestic and European companies initiated 14 projects, including for wind and solar power, energy storage, and the electricity grid.

The two-day conference Smart Growth, Green Future: Accelerating Investment in Montenegro, held earlier this week in Luštica, near Tivat, was opened by European Commission President Ursula von der Leyen and Prime Minister of Montenegro Milojko Spajić.

Bulatović: We will develop three projects with Akuo

Ivan Bulatović, CEO of government-controlled Elektroprivreda Crne Gore (EPCG), told Balkan Green Energy News that the memorandum with French renewable energy company Akuo includes a 36 MW floating solar power plant on Slano lake.

The investment is estimated at EUR 60 million.

It is an innovative technology and it helps the environment by reducing water evaporation, Bulatović explained.

Scotto: Montenegro has everything it needs for the development of renewables

Another project within the deal is for a solar power plant, and the third one is for energy storage. On behalf of Akuo Energy, the memorandum was signed by CEO Eric Scotto.

He stressed that floating solar saves water and space while providing energy. Scotto revealed the possibility for the proposed onshore photovoltaic plant to be agrisolar.

Montenegro has everything it needs for the development of renewable energy sources – sun, wind and space, Scotto stressed.

Thermal batteries at TE Pljevlja

Photo: EPCG

EPCG signed its second memorandum with E2S Power AG, based in Switzerland, for the joint development, production, and application of thermal energy storage. The ceremony was attended by Montenegrin Prime Minister Milojko Spajić.

The aim of the project is to lower the domestic utility’s CO2 emissions, primarily from the Pljevlja coal power plant.

Electricity would be purchased on the market when it’s cheap, to charge the energy storage facility and later produce steam to drive the turbine and generate electricity, Bulatović explained.

He stressed that the cooperation opens up the possibility for the application of advanced technologies enabling more efficient energy use and a reduction in CO2 emissions.

Wind fisher is developing innovative high-altitude wind turbines

“Our thermal energy storage technology, TWEST, provides concrete solutions for decarbonizing thermal power plants and stabilizing power systems that are increasingly reliant on renewable sources,” E2S Power AG CEO Saša Savić said.

The memorandum with French innovative solutions firm wind fisher envisages the development of a joint pilot project for high-altitude wind turbines. Bulatović signed it with the company’s CEO Stéphane Vidaillet.

It is an innovative idea that should take off in the future, and this is a pilot project in the testing phase, Bulatović revealed.

The company, in his words, has the technology, and Montenegro has the space where it can be tested.

Photo: EPCG
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October 17, 2025
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50 MW Trusina wind project in BiH gets fresh start

The Ministry of Energy and Mining of the Republic of Srpska has issued a public call for a concession to build and operate the Trusina wind farm in the municipality of Nevesinje, with an installed capacity of up to 50 MW. The move paves the way for reviving one of the largest wind projects in the Republic of Srpska, which has been stalled for years.

The investment is valued at BAM 130 million (EUR 66.5 million), with a projected annual electricity output of about 160 GWh. The new concession procedure was initiated by Sarajevo-based SDL Energy Company.

Wind farm Trusina would generate 160 GWh of electricity per year

The concession can be granted for a period of up to 50 years, and the produced electricity would be sold on the market, according to the public call. If awarded, the contract will include a one-time concession fee of BAM 650,000 (EUR 332,000), as well as BAM 0.0055 (EUR 0.0028) per kWh of electricity produced.

The deadline to submit bids is 30 days from the publication of the call.

The Republic of Srpska is one of the two entities comprising Bosnia and Herzegovina. The other one is called the Federation of BiH.

Challenges from the very beginning

The first concession agreement for the construction of the Trusina wind farm was signed back in 2012. The firm that was granted the concession, called Eol prvi, was founded by Serbia-based Omega plus, but Croatian firm Kermas energija joined the project and subsequently acquired a majority stake in Eol prvi.

However, the concession agreement was terminated in 2019 due to Kermas’ failure to provide a bank guarantee or make any significant progress in implementing the project.

The first concession was scrapped in 2019

Kermas reportedly threatened arbitration against Bosnia and Herzegovina, claiming BAM 200 million (EUR 102.3 million) in damages. However, in May this year, it expressed willingness to resolve the matter amicably, eKapija reported, citing information from the Office of the Attorney General of BiH.

Another dispute involved a EUR 38.2 million lawsuit filed by Omega plus against Kermas. The lawsuit concerned lost profits from the unrealized project, as well as issues related to the transfer of ownership in Eol prvi.

Initially, Omega was awarded BAM 21.1 million (EUR 10.8 million), but the ruling was later overturned.

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October 17, 2025
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Montenegro building two solar plants at hydropower dams

Montenegro’s state power utility, Elektroprivreda Crne Gore (EPCG), is installing a 2.5 MW solar plant at the Slano hydropower dam near Nikšić, while a photovoltaic plant is also being installed at the Vrtac dam. The project marks yet another step towards increasing the share of renewable sources and strengthening Montenegro’s energy independence, said EPCG-Solar gradnja, a subsidiary of EPCG.

The project is implemented by EPCG-Solar gradnja, which specializes in the procurement, design, installation, and maintenance of photovoltaic systems. Both dams belong to hydropower plant Perućica.

The works at the Slano dam are challenging, as the solar panels are being installed on very steep terrain, according to Marina Jočić, president of the board of EPCG-Solar gradnja. She was speaking during a tour of the site with EPCG management, Speaker of the Parliament of Montenegro Andrija Mandić, and Mayor of Nikšić Marko Kovačević.

The total planned capacity of the Slano and Vrtac solar plants is 3.7 MW

According to earlier announcements, the total installed capacity of the Slano and Vrtac solar power plants will be 3.7 MW. Works on the Vrtac power plant are in the final phase, said Miro Vračar, head of production at EPCG.

EPCG also plans to build the country’s first floating solar power plant at the Slano reservoir. Late last year, the investment valued at EUR 60 million was listed as one of 15 priority infrastructure projects in Montenegro’s energy sector.

EPCG also plans a floating solar plant at the Slano reservoir

Solar power plants on dams are also being built in other countries in the region. In Slovenia, one such facility was put into operation in June, installed on the reservoir wall of the Avče pumped storage hydropower plant.

When it comes to floating solar, North Macedonia plans to integrate such facilities into the national irrigation network.

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October 17, 2025
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Hungary’s Szijjártó: MOL to supply more oil, fuel to Serbia amid sanctions

Minister of Foreign Affairs and Trade of Hungary Péter Szijjártó said Serbia can count on an increase in supply of oil and fuel from MOL, as NIS is now under US sanctions. However, it cannot fully replace the volume that was coming through Croatia, he warned and stressed that it shows the risk of depending on a single oil pipeline.

The United States has imposed sanctions on Serbian oil refiner and fuel distributor NIS, controlled by Russian Gazprom’s subsidiaries. Except for a small share of domestic production, the company was getting all its oil through the Croatian Jadranski naftovod (JANAF) pipeline. Serbian President Aleksandar Vučić said the country’s only refinery, in Pančevo, can only operate until the end of the month, while that the current stockpiles of derivatives can last until the end of the year.

Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó promised assistance. “Of course, we stand by our Serbian friends. We are in constant contact, and since MOL, as the largest energy company in the region, plays an important role in the supply of crude oil and fuel in Serbia, of course our Serbian friends can also count on MOL’s increased deliveries,” he stated.

Serbia’s only refinery has oil only until the end of the month

At the same time, the Hungarian official acknowledged that it cannot fully replace the volume that was coming via Croatia.

“Therefore, everyone should remember once again as a very important lesson: there are very serious risks in the situation when a country depends on a single oil pipeline, especially if it comes from Croatia,” Szijjártó stressed.

Namely, the government in Budapest has been complaining that JANAF’s oil transport fees were too high and it disputed the Croatian state-owned pipeline operator’s ability to cover the entire needs of MOL’s refineries in Hungary and Slovakia. The company still gets Russian oil through the Druzhba pipeline as well.

According to the Energy Community Secretariat, oil and petroleum product stocks in Serbia in July amounted to 43.8 days of average net imports, compared to the required 90 days.

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October 16, 2025
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Principia builds CfD-backed battery storage facility in Greece

Principia built its first battery system in just six months. The Themelio facility in Chalkidiki in northern Greece, with 49 MW in operating power, will help reduce curtailments from wind and solar power plants and contribute to grid stability.

One of the first standalone battery energy storage systems (BESS) in Greece is coming online in December. Principia said it built the Themelio facility in the Vouno area of Chalkidiki peninsula, aligned with the national plan for grid stability and electrification.

The BESS has 49 MW in capability and a two-hour duration, translating to a guaranteed capacity of 98 MWh, while the nominal capacity is 127 MWh.

Principia is an equally-owned joint venture of Italy-based Enel and funds managed by Macquarie Asset Management, headquartered in Australia. The company said the name Themelio, foundation, symbolizes the beginning of its new era, diversifying beyond renewables.

The construction of the battery system near the town of Polygyros in the Central Macedonia region began in April. It will help reduce curtailments from wind and solar plants, especially in grid-congested areas, by absorbing excess electricity and injecting it back into the system when needed, Principia explained.

The battery energy storage system features a guaranteed capacity of 98 MWh

BESS also enhances system stability by providing power during peak demand and ensuring smooth grid operation. In addition, the unit promotes energy decentralization, as it is located close to renewable energy production sites, contributing to the creation of a more flexible and intelligent energy environment, the joint venture pointed out.

Eurobank financed half of the EUR 28 million project.

The new system in northern Greece consists of 26 Sungrow battery containers, each with a maximum capacity of 5 MWh and equipped with advanced CALB 314 Ah cells. Themelio includes 13 Sungrow power stations, containing 5,140 kW transformers and 33 kV medium-voltage switchgear, as well as two medium-voltage terminal substations.

The project won government support last year, in the form of a contract for difference (CfD), in Greece’s second auction for standalone energy storage systems. Almost all other beneficiaries of the program are struggling with strict deadlines.

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October 16, 2025
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UPDATE: CEO Dejan Paravan leaving Slovenian state-owned GEN energija

CEO of Slovenian state-owned energy utility GEN energija Dejan Paravan has resigned. According to a news report, he is joining NGEN, but the company still didn’t comment on the speculation.

GEN energija, which is developing a project for Slovenia’s second nuclear power plant, is about to appoint a new CEO. After necenzurirano.si reported that Dejan Paravan, the current head of the government-controlled energy company, has quit, the supervisory board officially acknowledged that he submitted his resignation on October 10.

The news website also learned that he would assume a position at privately owned NGEN, which didn’t issue any statements yet on the matter. The same media outlet later wrote that Paravan has agreed to step down at the end of November.

Nada Drobne Popović and Bruno Glaser, the other two members of the board, allegedly offered their resignations and they were rejected.

Paravan has been a close associate of Prime Minister Robert Golob for two decades. The government appointed him as CEO in October 2022.

GEN energija holds the Slovenian half of the Krško nuclear power plant (NEK or, in Slovenian, JEK), and owns hydropower plant operators Savske elektrarne Ljubljana (SEL) and Hidroelektrarne na Spodnji Savi (HESS), and the Brestanica gas-fired power plant.

GEN-I, which was co-founded by Prime Minister Golob, is also part of GEN Group. He was the firm’s CEO until 2021.

As GEN energija’s chief, Paravan is responsible for the NEK 2 (JEK 2) project, for another nuclear power plant. The investment is valued at between EUR 9 billion and EUR 16 billion.

A referendum was scheduled about the proposal, but the National Assembly canceled the vote a year ago.

NGEN builds and operates battery energy storage systems (BESS), and develops software and hardware for running decentralized systems, cybersecurity and access to all segments of the energy market.

Of note, both Dejan Paravan and Co-Founder and CEO of NGEN Group Roman Bernard spoke at this year’s Belgrade Energy Forum (BEF 2025), organized by Balkan Green Energy News.

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