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The third Belgrade Energy Forum will take place on May 14 and 15, bringing together key players in Southeast Europe’s energy transition. Organized by Balkan Green Energy News, the region’s leading energy news portal, this conference will serve as a hub for representatives from regional and international institutions, organizations, and the business community from the region, Europe, and beyond.

Given the current geopolitical landscape, engaging in dialogue and networking with those who have a deep understanding of the markets and trends is more important than ever. To achieve the region’s energy and climate goals, it is essential to exchange information, knowledge, and experiences. Don’t miss this exceptional opportunity to connect with industry leaders and collectively shape the energy landscape!

The Belgrade Energy Forum is a regional energy conference organized by Balkan Green Energy News, the leading energy portal in Southeast Europe and one of the top 50 energy news websites in 2025.

In 2023 and 2024, the Belgrade Energy Forum attracted nearly 1,000 participants from over 30 countries. This included five energy ministers from the Southeast Europe region and more than 120 prominent speakers on energy transition from Europe and beyond

Petar Đokić, Minister of Energy and Mining of the Republic of Srpska, Dubravka Đedović Handanović, Minister of Mining and Energy of Serbia, and Saša Mujović, Minister of Energy of Montenegro, at the opening of Belgrade Energy Forum 2024

The diverse conference agenda includes eight panel discussions, keynote speeches, and presentations. The conference, taking place at Belgrade’s Crowne Plaza Hotel (special accommodation rates are available at the hotel by April 1 and the nearby Hyatt Regency), will feature an exhibition floor with stands.

At the end of day one, European wind turbine manufacturer Nordex, the silver sponsor of Belgrade Energy Forum 2025 (BEF 2025), will host a large party for conference participants to celebrate its 40th anniversary.

This year’s conference will introduce a networking and meeting-scheduling app, which will be launched soon. The conference director, Branislava Jovičić, stated:

“In addition to our well-recognized quality program, the Belgrade Energy Forum also acts as an excellent networking platform for individuals already conducting business in the region, as well as those planning to enter the market. To achieve your business goals more effectively, it’s essential to understand your stakeholders, and that’s exactly what we offer as a news portal and conference organizer. We provide our partners from the region and around the world the opportunity to connect with key stakeholders in one place. Furthermore, Balkan Green Energy News is available year-round to our clients and partners, supporting their business and helping them share news about their achievements. This is our competitive advantage over other events.”

The list of confirmed speakers includes a number of key players in the region’s energy transition, with several important names standing out.

Keynote speeches by energy transition leaders

Borislav Kostadinov, Fund Director for the Green for Growth Fund (GGF) at Finance in Motion, will talk about the importance of the energy transition and the financing of green projects. The GGF is one of the world’s most significant climate action funds in developing markets, including 19 markets in the European Union (EU) neighborhood, with a significant role in the Western Balkans.

Borislav Kostadinov, Fund Director for the Green for Growth Fund (GGF) at Finance in Motion, addresses BEF 2024

Christian Zinglersen, Director of the EU Agency for the Cooperation of Energy Regulators (ACER), will address the conference on May 14. His participation in BEF 2025 comes at a critical time for the Energy Community contracting parties, the transposition of EU energy regulations into national laws, and the integration into the EU’s single market.

Traditional support from institutional partners

The traditional institutional partners of BEF 2025 are the Ministry of Mining and Energy of the Republic of Serbia, the Ministry of Energy and Mining of the Republic of Srpska, the Serbian Chamber of Commerce, and Confindustria Serbia.

Petar Đokić, Minister of Energy and Mining of the Republic of Srpska, has stated that the ministry’s role as an institutional partner reflects its commitment to promoting energy sustainability, improving regional cooperation, and attracting investments in the energy sector.

“The Ministry of Energy and Mining of the Republic of Srpska, along with my personal involvement, has been actively engaged in the Belgrade Energy Forum since its inception. This Forum brings together key stakeholders in the energy sector, serving as a platform that encourages the exchange of ideas and experiences. The insights gained from these discussions help identify practical solutions to the energy industry’s challenges,” Đokić stressed.

He is convinced that through our collective efforts, we can build an energy future that is economically stable, environmentally sustainable, and socially responsible.

Last year’s panel titled Accelerating battery storage in South Eastern Europe: Challenges, Solutions, Outlook

Golden support for BEF from Serbia’s auction winner

A pioneer in renewable energy development in Southeast Europe, the Netherlands-based WV International is the gold sponsor of the conference. Recently, the company ranked second and third in Serbia’s second auction for market premiums for renewables, bidding with wind farm projects Alibunar 1 and Alibunar 2, which SANY Renewable Energy then acquired. This Chinese company, which manufactures wind turbines, is participating in this year’s BEF for the first time and will have an exhibition stand.

Neda Lazendić, WV International’s Country Manager for Serbia, said: “It is our great pleasure to support Belgrade Energy Forum for the third consecutive year as the largest and most important energy conference in our region. Following recent auction wins, WV International continues to work on developing a 571 MW portfolio, and we are also developing a 125 MW hybrid power plant that will combine wind and solar.”

Nordex Group, Adex Group, and the Green for Growth Fund (GGF) are the conference’s silver sponsors. Other sponsors will be announced soon.

Nordex Group, a European manufacturer of wind turbines, celebrates its 40th anniversary this year. In 2016, Germany-based Nordex merged with Spain’s Acciona Windpower. In this region, the silver sponsor of the conference shines with a golden glow, recording outstanding results – its current portfolio includes 1,000 MW of wind farms already generating electricity in Serbia and Croatia as well as projects under development in the two countries. Recently, the company signed an agreement on the Gvozd wind farm, which is being developed by Montenegro’s state power utility Elektroprivreda Crne Gore (EPCG).

Ibrahim Özarslan: Nordex has a strategic interest in the Balkans

Ibrahim Özarslan, CEO of Nordex Group’s Division Europe, said at the signing of the agreement with EPCG that Nordex had a strategic interest in the Balkans.

Adex – the first regional electricity exchange

Adex Group sponsors the panel titled Integration of Western Balkans electricity markets into internal European market through market coupling. In December last year, Adex Group completed a merger with the Hungarian Power Exchange (HUPX). In this way, HUPX joined the Slovenian BSP exchange and Serbia’s SEEPEX, forming a Central, Eastern, and Southeastern European hub.

The company said at the time that the transaction positioned it as the premier power trading hub for Central and Eastern Europe and Southeastern Europe.

GGF – a key financial link in the Western Balkans

The Green for Growth Fund (GGF) is a financial link without which many regional renewable energy projects would not have been realized. These include the Bogoslovec wind farm in North Macedonia, which was put into operation last year. GGF said at the time that Bogoslovec was its first equity investment and a model for future renewable energy projects.

The fund, also known for cooperating with commercial banks in the region, recently approved additional funds for Montenegro’s Lovćen banka and Serbia’s AIK Banka.

For the first time, Switzerland-based Pexapark, a leading provider of price data, market intelligence, and advisory services for renewable energy, will attend the conference in the capacity of the conference Knowledge partner.

Friends of the conference are Elektroprivreda Srbije and Energy Institute Hrvoje Požar

Friends of the conference are Serbia’s state power utility Elektroprivreda Srbije (EPS) and Croatia’s Energy Institute Hrvoje Požar, with their respective directors, Dušan Živković and Dražen Jakšić, taking part together in the panel on decarbonizing the region’s electricity sector.

Energy Institute Hrvoje Požar (EIHP), a leading energy think-tank in the region, continues to provide much-needed logistics for the energy transition across the Balkans and Europe. The institute has developed a biodiversity conflict map for solar and wind power plants in Croatia. The map represents a crucial tool for balancing the energy transition and nature conservation, and it also serves as an example for the innovative application of digital technologies to support sustainable development.

In addition to providing consultancy services, EIHP has also strived to lead by example. In October 2024, it officially opened its National Training Center for Nearly Zero Energy Buildings (nZEB). This marked the completion of a project of the same name, which included the first phase of renovating EIHP’s office building to meet nearly zero energy standards.

Belgrade Energy Forum provides an excellent networking opportunity. Register and connect with the leaders of the energy transition in Southeast Europe.

Get ready for eight great panel discussions:

• High-level ministerial panel on SEE regional cooperation and energy transition strategies
• Decarbonization strategies for power generation in Southeast Europe 2040/2050
• Addressing carbon pricing in the Western Balkans – Turning decarbonization challenges into opportunities through collaboration, innovation, and competitiveness
• Integration of Western Balkans electricity markets into the internal European market through market coupling
• Transformative power of digitalisation and AI in the energy sector
• Energy storage system market in SEE: trends and forecasts
• PPAs as a key to renewable energy growth in SEE
• Energy system flexibility – vital role in ensuring a stable, efficient, and sustainable power grid

The third Belgrade Energy Forum will take place on May 14 and 15, bringing together key players in Southeast Europe’s energy transition. Organized by Balkan Green Energy News, the region’s leading energy news portal, this conference will serve as a hub for representatives from regional and international institutions, organizations, and the business community from the region, Europe, and beyond.

Given the current geopolitical landscape, engaging in dialogue and networking with those who have a deep understanding of the markets and trends is more important than ever. To achieve the region’s energy and climate goals, it is essential to exchange information, knowledge, and experiences. Don’t miss this exceptional opportunity to connect with industry leaders and collectively shape the energy landscape!

The Belgrade Energy Forum is a regional energy conference organized by Balkan Green Energy News, the leading energy portal in Southeast Europe and one of the top 50 energy news websites in 2025.

In 2023 and 2024, the Belgrade Energy Forum attracted nearly 1,000 participants from over 30 countries. This included five energy ministers from the Southeast Europe region and more than 120 prominent speakers on energy transition from Europe and beyond

Petar Đokić, Minister of Energy and Mining of the Republic of Srpska, Dubravka Đedović Handanović, Minister of Mining and Energy of Serbia, and Saša Mujović, Minister of Energy of Montenegro, at the opening of Belgrade Energy Forum 2024

The diverse conference agenda includes eight panel discussions, keynote speeches, and presentations. The conference, taking place at Belgrade’s Crowne Plaza Hotel (special accommodation rates are available at the hotel by April 1 and the nearby Hyatt Regency), will feature an exhibition floor with stands.

At the end of day one, European wind turbine manufacturer Nordex, the silver sponsor of Belgrade Energy Forum 2025 (BEF 2025), will host a large party for conference participants to celebrate its 40th anniversary.

This year’s conference will introduce a networking and meeting-scheduling app, which will be launched soon. The conference director, Branislava Jovičić, stated:

“In addition to our well-recognized quality program, the Belgrade Energy Forum also acts as an excellent networking platform for individuals already conducting business in the region, as well as those planning to enter the market. To achieve your business goals more effectively, it’s essential to understand your stakeholders, and that’s exactly what we offer as a news portal and conference organizer. We provide our partners from the region and around the world the opportunity to connect with key stakeholders in one place. Furthermore, Balkan Green Energy News is available year-round to our clients and partners, supporting their business and helping them share news about their achievements. This is our competitive advantage over other events.”

The list of confirmed speakers includes a number of key players in the region’s energy transition, with several important names standing out.

Keynote speeches by energy transition leaders

Borislav Kostadinov, Fund Director for the Green for Growth Fund (GGF) at Finance in Motion, will talk about the importance of the energy transition and the financing of green projects. The GGF is one of the world’s most significant climate action funds in developing markets, including 19 markets in the European Union (EU) neighborhood, with a significant role in the Western Balkans.

Borislav Kostadinov, Fund Director for the Green for Growth Fund (GGF) at Finance in Motion, addresses BEF 2024

Christian Zinglersen, Director of the EU Agency for the Cooperation of Energy Regulators (ACER), will address the conference on May 14. His participation in BEF 2025 comes at a critical time for the Energy Community contracting parties, the transposition of EU energy regulations into national laws, and the integration into the EU’s single market.

Traditional support from institutional partners

The traditional institutional partners of BEF 2025 are the Ministry of Mining and Energy of the Republic of Serbia, the Ministry of Energy and Mining of the Republic of Srpska, the Serbian Chamber of Commerce, and Confindustria Serbia.

Petar Đokić, Minister of Energy and Mining of the Republic of Srpska, has stated that the ministry’s role as an institutional partner reflects its commitment to promoting energy sustainability, improving regional cooperation, and attracting investments in the energy sector.

“The Ministry of Energy and Mining of the Republic of Srpska, along with my personal involvement, has been actively engaged in the Belgrade Energy Forum since its inception. This Forum brings together key stakeholders in the energy sector, serving as a platform that encourages the exchange of ideas and experiences. The insights gained from these discussions help identify practical solutions to the energy industry’s challenges,” Đokić stressed.

He is convinced that through our collective efforts, we can build an energy future that is economically stable, environmentally sustainable, and socially responsible.

Last year’s panel titled Accelerating battery storage in South Eastern Europe: Challenges, Solutions, Outlook

Golden support for BEF from Serbia’s auction winner

A pioneer in renewable energy development in Southeast Europe, the Netherlands-based WV International is the gold sponsor of the conference. Recently, the company ranked second and third in Serbia’s second auction for market premiums for renewables, bidding with wind farm projects Alibunar 1 and Alibunar 2, which SANY Renewable Energy then acquired. This Chinese company, which manufactures wind turbines, is participating in this year’s BEF for the first time and will have an exhibition stand.

Neda Lazendić, WV International’s Country Manager for Serbia, said: “It is our great pleasure to support Belgrade Energy Forum for the third consecutive year as the largest and most important energy conference in our region. Following recent auction wins, WV International continues to work on developing a 571 MW portfolio, and we are also developing a 125 MW hybrid power plant that will combine wind and solar.”

Nordex Group, Adex Group, and the Green for Growth Fund (GGF) are the conference’s silver sponsors. Other sponsors will be announced soon.

Nordex Group, a European manufacturer of wind turbines, celebrates its 40th anniversary this year. In 2016, Germany-based Nordex merged with Spain’s Acciona Windpower. In this region, the silver sponsor of the conference shines with a golden glow, recording outstanding results – its current portfolio includes 1,000 MW of wind farms already generating electricity in Serbia and Croatia as well as projects under development in the two countries. Recently, the company signed an agreement on the Gvozd wind farm, which is being developed by Montenegro’s state power utility Elektroprivreda Crne Gore (EPCG).

Ibrahim Özarslan: Nordex has a strategic interest in the Balkans

Ibrahim Özarslan, CEO of Nordex Group’s Division Europe, said at the signing of the agreement with EPCG that Nordex had a strategic interest in the Balkans.

Adex – the first regional electricity exchange

Adex Group sponsors the panel titled Integration of Western Balkans electricity markets into internal European market through market coupling. In December last year, Adex Group completed a merger with the Hungarian Power Exchange (HUPX). In this way, HUPX joined the Slovenian BSP exchange and Serbia’s SEEPEX, forming a Central, Eastern, and Southeastern European hub.

The company said at the time that the transaction positioned it as the premier power trading hub for Central and Eastern Europe and Southeastern Europe.

GGF – a key financial link in the Western Balkans

The Green for Growth Fund (GGF) is a financial link without which many regional renewable energy projects would not have been realized. These include the Bogoslovec wind farm in North Macedonia, which was put into operation last year. GGF said at the time that Bogoslovec was its first equity investment and a model for future renewable energy projects.

The fund, also known for cooperating with commercial banks in the region, recently approved additional funds for Montenegro’s Lovćen banka and Serbia’s AIK Banka.

For the first time, Switzerland-based Pexapark, a leading provider of price data, market intelligence, and advisory services for renewable energy, will attend the conference in the capacity of the conference Knowledge partner.

Friends of the conference are Elektroprivreda Srbije and Energy Institute Hrvoje Požar

Friends of the conference are Serbia’s state power utility Elektroprivreda Srbije (EPS) and Croatia’s Energy Institute Hrvoje Požar, with their respective directors, Dušan Živković and Dražen Jakšić, taking part together in the panel on decarbonizing the region’s electricity sector.

Energy Institute Hrvoje Požar (EIHP), a leading energy think-tank in the region, continues to provide much-needed logistics for the energy transition across the Balkans and Europe. The institute has developed a biodiversity conflict map for solar and wind power plants in Croatia. The map represents a crucial tool for balancing the energy transition and nature conservation, and it also serves as an example for the innovative application of digital technologies to support sustainable development.

In addition to providing consultancy services, EIHP has also strived to lead by example. In October 2024, it officially opened its National Training Center for Nearly Zero Energy Buildings (nZEB). This marked the completion of a project of the same name, which included the first phase of renovating EIHP’s office building to meet nearly zero energy standards.

Belgrade Energy Forum provides an excellent networking opportunity. Register and connect with the leaders of the energy transition in Southeast Europe.

Get ready for eight great panel discussions:

• High-level ministerial panel on SEE regional cooperation and energy transition strategies
• Decarbonization strategies for power generation in Southeast Europe 2040/2050
• Addressing carbon pricing in the Western Balkans – Turning decarbonization challenges into opportunities through collaboration, innovation, and competitiveness
• Integration of Western Balkans electricity markets into the internal European market through market coupling
• Transformative power of digitalisation and AI in the energy sector
• Energy storage system market in SEE: trends and forecasts
• PPAs as a key to renewable energy growth in SEE
• Energy system flexibility – vital role in ensuring a stable, efficient, and sustainable power grid

State-owned Monteput is preparing a study on installing solar panels along the Bar-Boljare highway. The company has launched a tender for the development of a techno-economic study of the use of solar potential along the Bar-Boljare highway route for the production and use of electricity.

Monteput intends to use the electricity from its solar power plants for self-consumption, to supply facilities along the road such as tunnels, bridges, interchanges and toll stations.

The study aims to analyze the possibility and profitability of using solar potential in the area of ​​the Bar-Boljare highway, according to the tender documentation.

The document should also demonstrate the advantages and disadvantages of different models to facilitate the adoption of strategic decisions for the electricity supply of consumers on the highway.

Tunnels are the biggest consumers of electricity on the highway

Monteput recalled that the construction of the Bar-Boljare highway is taking place in stages. So far the 41-kilometer section Smokovac-Mateševo ​​has been put into operation. Activities are underway for the start of work on other sections.

The company wants to assess the potential for the use of solar energy in the existing part as well as the planned sections.

Smokovac-Mateševo ​is a significant consumer of electricity, while the biggest ones are tunnels, which account for over 80% of the total consumption. The ventilation and lighting systems consume the largest part of the power in tunnels, the tender documentation reads.

Many European countries have plans to install solar panels along highways. It is also the intention of some of the countries in the region, for example, Bosnia and Herzegovina and Slovenia.

Germany prepared a study

Monteput pointed out that European Union countries have been taking steps to use solar potential along highways. In 2023, the German government created a legal framework and adopted regulations aimed at speeding up and simplifying procedures in the transport sector for the use of solar energy.

According to a study by the Research Institute of Federal Highways, commissioned by the Federal Ministry of Digital Affairs and Transport, the country’s 50,000 kilometers of highways have a solar potential of 24 GW to 48 GW altogether.

Noise protection barriers could add an estimated 3.2 GW to 4.2 GW while parking spaces can provide 1.2 GW, and structures at rest areas have a potential of up to 150 MW in total.

Monteput also noted that the public company Motorways of the Federation of Bosnia and Herzegovina in neighboring BiH has produced a study on the potential for the construction of photovoltaic plants on the Vc highway corridor.

State-owned Monteput is preparing a study on installing solar panels along the Bar-Boljare highway. The company has launched a tender for the development of a techno-economic study of the use of solar potential along the Bar-Boljare highway route for the production and use of electricity.

Monteput intends to use the electricity from its solar power plants for self-consumption, to supply facilities along the road such as tunnels, bridges, interchanges and toll stations.

The study aims to analyze the possibility and profitability of using solar potential in the area of ​​the Bar-Boljare highway, according to the tender documentation.

The document should also demonstrate the advantages and disadvantages of different models to facilitate the adoption of strategic decisions for the electricity supply of consumers on the highway.

Tunnels are the biggest consumers of electricity on the highway

Monteput recalled that the construction of the Bar-Boljare highway is taking place in stages. So far the 41-kilometer section Smokovac-Mateševo ​​has been put into operation. Activities are underway for the start of work on other sections.

The company wants to assess the potential for the use of solar energy in the existing part as well as the planned sections.

Smokovac-Mateševo ​is a significant consumer of electricity, while the biggest ones are tunnels, which account for over 80% of the total consumption. The ventilation and lighting systems consume the largest part of the power in tunnels, the tender documentation reads.

Many European countries have plans to install solar panels along highways. It is also the intention of some of the countries in the region, for example, Bosnia and Herzegovina and Slovenia.

Germany prepared a study

Monteput pointed out that European Union countries have been taking steps to use solar potential along highways. In 2023, the German government created a legal framework and adopted regulations aimed at speeding up and simplifying procedures in the transport sector for the use of solar energy.

According to a study by the Research Institute of Federal Highways, commissioned by the Federal Ministry of Digital Affairs and Transport, the country’s 50,000 kilometers of highways have a solar potential of 24 GW to 48 GW altogether.

Noise protection barriers could add an estimated 3.2 GW to 4.2 GW while parking spaces can provide 1.2 GW, and structures at rest areas have a potential of up to 150 MW in total.

Monteput also noted that the public company Motorways of the Federation of Bosnia and Herzegovina in neighboring BiH has produced a study on the potential for the construction of photovoltaic plants on the Vc highway corridor.

MountMed Institute and the University of Cyprus are establishing the country’s first energy cooperative with partners from Crete. In the pilot phase, they intend to build a small hybrid power plant – photovoltaic facility with energy storage – for one hundred households in the Troodos mountain range.

The communities of the wider Troodos (Trodos) region in Cyprus are getting assistance for access to renewable energy sources. A project is underway for the island country’s first energy cooperative. It is especially aimed to benefit villages where the environment and particular geographical and building characteristics do not provide residents with technical solutions such as the ones in urban areas, for the production of cheaper electricity from photovoltaic systems or other technologies, philenews reported.

The non-profit MountMed Research and Development Institute for the Mountain Regions of the Mediterranean Islands secured EUR 1 million via a European Union program. The University of Cyprus, the project coordinator, is tasked with technical studies and obtaining permits.

They intend to install a pilot energy community solar park with storage for communities and villagers in the Troodos mountain range. In the first phase, the 500 kW facility would supply 100 households in the Solea-Marathasa area.

Minoan Energy Community of Crete to provide knowhow

The initiative is called MoRECo (Mountain Community of Renewable Energy) Troodos. The funding came through Cooperation Programme Interreg VI-A Greece-Cyprus 2021-2027. The endeavor includes assistance from the Crete Region and the Minoan Energy Community as partners.

According to the update, the land for the first solar power plant will be secured in cooperation with the Ministry of Interior and the Cypriot government.

Spreading MoRECo to other villages in Troodos

MountMed plans to expand the initiative to surrounding communities. It has also qualified for technical support from the European Commission’s Rural Energy Community Advisory Hub (RECAH).

The Cyprus Energy Regulatory Authority (CERA) adopted the legal framework for renewable energy communities (RECs) last year. In line with EU regulation, such entities are for individuals, small and medium-sized enterprises (SMEs) and municipal authorities.

The primary objective of an REC is to provide environmental, economic and social benefits at a community level to its shareholders or members or the local areas where it operates, but not profits.

MountMed Institute and the University of Cyprus are establishing the country’s first energy cooperative with partners from Crete. In the pilot phase, they intend to build a small hybrid power plant – photovoltaic facility with energy storage – for one hundred households in the Troodos mountain range.

The communities of the wider Troodos (Trodos) region in Cyprus are getting assistance for access to renewable energy sources. A project is underway for the island country’s first energy cooperative. It is especially aimed to benefit villages where the environment and particular geographical and building characteristics do not provide residents with technical solutions such as the ones in urban areas, for the production of cheaper electricity from photovoltaic systems or other technologies, philenews reported.

The non-profit MountMed Research and Development Institute for the Mountain Regions of the Mediterranean Islands secured EUR 1 million via a European Union program. The University of Cyprus, the project coordinator, is tasked with technical studies and obtaining permits.

They intend to install a pilot energy community solar park with storage for communities and villagers in the Troodos mountain range. In the first phase, the 500 kW facility would supply 100 households in the Solea-Marathasa area.

Minoan Energy Community of Crete to provide knowhow

The initiative is called MoRECo (Mountain Community of Renewable Energy) Troodos. The funding came through Cooperation Programme Interreg VI-A Greece-Cyprus 2021-2027. The endeavor includes assistance from the Crete Region and the Minoan Energy Community as partners.

According to the update, the land for the first solar power plant will be secured in cooperation with the Ministry of Interior and the Cypriot government.

Spreading MoRECo to other villages in Troodos

MountMed plans to expand the initiative to surrounding communities. It has also qualified for technical support from the European Commission’s Rural Energy Community Advisory Hub (RECAH).

The Cyprus Energy Regulatory Authority (CERA) adopted the legal framework for renewable energy communities (RECs) last year. In line with EU regulation, such entities are for individuals, small and medium-sized enterprises (SMEs) and municipal authorities.

The primary objective of an REC is to provide environmental, economic and social benefits at a community level to its shareholders or members or the local areas where it operates, but not profits.

Global private equity firm Ardian reached an agreement to acquire France-based independent renewable energy producer Akuo.

Akuo, controlled by alternative asset manager ICG, is opening a new chapter under private equity firm Ardian, headquartered in Paris. Founded in 2007 in France, Akuo specializes in wind power, storage and photovoltaics, including agrisolar and floating solar power plants. It has more than 2 GW of assets in operation and under construction or shovel-ready projects across more than 20 countries worldwide.

Ardian agreed to take over Akuo for an undisclosed sum, “subject to the legal information and consultation process towards the relevant employee representative bodies” and pending regulatory clearance, according to the announcement.

“This transaction reflects our commitment to supporting high-potential entrepreneurial infrastructure platforms on their journey to industrialization and growth as part of the energy transition,”​ said Ardian’s Co-Head of Infrastructure Europe Benoît Gaillochet. The company stressed it would capitalize on Akuo’s solid fundamentals to pursue growth ambitions and that it would provide the necessary financial capacity for its projects.

Ardian said it would provide the necessary financial capacity for Akuo’s projects

The acquisition will enable Akuo to streamline its business and expand its international presence, but also to innovate more rapidly to meet tomorrow’s energy challenges, its Co-Founder Éric Scotto asserted. The French company has over 12 GW in its project pipeline. Akuo said it aims to reach 5 GW by 2030 in production and storage capacity.

In the region that Balkan Green Energy News covers, the company is active in North Macedonia, Bulgaria, Serbia, Montenegro, Greece, Croatia and Bosnia and Herzegovina.

“We are delighted to have been able to contribute to the success of Akuo and its teams in recent years. Akuo has demonstrated its pioneering position in the development of renewable energy. We are convinced that Ardian will provide the necessary resources to further strengthen the group’s positions and accelerate its growth,” said Managing Director of ICG Infrastructure Strategy Pénélope Dietsch.

Through its infrastructure funds, Ardian manages over 8 GW of thermal and renewable energy capacity in Europe and the Americas and has more than USD 35 billion under management. Overall, it manages or advises USD 177 billion of assets on behalf of more than 1,850 clients globally. It has more than 1,050 employees in 20 offices n Europe, the Americas, Asia and Middle East.

Global private equity firm Ardian reached an agreement to acquire France-based independent renewable energy producer Akuo.

Akuo, controlled by alternative asset manager ICG, is opening a new chapter under private equity firm Ardian, headquartered in Paris. Founded in 2007 in France, Akuo specializes in wind power, storage and photovoltaics, including agrisolar and floating solar power plants. It has more than 2 GW of assets in operation and under construction or shovel-ready projects across more than 20 countries worldwide.

Ardian agreed to take over Akuo for an undisclosed sum, “subject to the legal information and consultation process towards the relevant employee representative bodies” and pending regulatory clearance, according to the announcement.

“This transaction reflects our commitment to supporting high-potential entrepreneurial infrastructure platforms on their journey to industrialization and growth as part of the energy transition,”​ said Ardian’s Co-Head of Infrastructure Europe Benoît Gaillochet. The company stressed it would capitalize on Akuo’s solid fundamentals to pursue growth ambitions and that it would provide the necessary financial capacity for its projects.

Ardian said it would provide the necessary financial capacity for Akuo’s projects

The acquisition will enable Akuo to streamline its business and expand its international presence, but also to innovate more rapidly to meet tomorrow’s energy challenges, its Co-Founder Éric Scotto asserted. The French company has over 12 GW in its project pipeline. Akuo said it aims to reach 5 GW by 2030 in production and storage capacity.

In the region that Balkan Green Energy News covers, the company is active in North Macedonia, Bulgaria, Serbia, Montenegro, Greece, Croatia and Bosnia and Herzegovina.

“We are delighted to have been able to contribute to the success of Akuo and its teams in recent years. Akuo has demonstrated its pioneering position in the development of renewable energy. We are convinced that Ardian will provide the necessary resources to further strengthen the group’s positions and accelerate its growth,” said Managing Director of ICG Infrastructure Strategy Pénélope Dietsch.

Through its infrastructure funds, Ardian manages over 8 GW of thermal and renewable energy capacity in Europe and the Americas and has more than USD 35 billion under management. Overall, it manages or advises USD 177 billion of assets on behalf of more than 1,850 clients globally. It has more than 1,050 employees in 20 offices n Europe, the Americas, Asia and Middle East.

Global energy demand grew at a faster-than-average pace in 2024. The increase was led by the electricity sector, driven by extremely high temperatures, electrification and digitalization. Renewables and natural gas covered the majority of additional energy needs while renewables and nuclear energy did the same for the growth in power generation, according to the IEA’s Global Energy Review.

The latest edition of the IEA’s Global Energy Review brings data on energy demand, supply, the uptake of new energy technologies and energy-related carbon dioxide (CO2) emissions.

Global energy demand rose by 2.2% last year – lower than GDP growth of 3.2% but considerably faster than the average annual demand increase of 1.3% between 2013 and 2023, the report underlines.

Emerging and developing economies accounted for over 80% of the increase in global energy demand in 2024. In China, energy consumption rose by less than 3%, half its 2023 rate and well below the country’s recent annual average. After several years of declines, advanced economies saw a return to growth, with their energy demand increasing by almost 1% in aggregate, according to the report.

Demand for all fuels and technologies expanded in 2024. The increase was led by the power sector as electricity demand surged by 4.3%, well above the 3.2% growth in global GDP.

Global electricity consumption rose by nearly 1,100 TWh in 2024, more than twice the annual average increase over the past decade. China made up more than half of the global increase in electricity demand.

The electricity consumption has increased due to higher demand for cooling, rising consumption by industry, the electrification of transport and growth of data centers and artificial intelligence, according to the report.

Electricity use in buildings accounted for nearly 60% of overall growth in 2024. The power capacity of data centers globally increased by an estimated 20%, or around 15 GW, mostly in the US and China. Meanwhile, global sales of electric cars rose by over 25%, surpassing 17 million units and accounting for one fifth of all car sales.

Renewables covered the biggest share (38%) of global energy supply growth, followed by natural gas (28%), coal (15%), oil (11%) and nuclear (8%), the report reads.

Renewables and nuclear energy together provided 80% of the growth in global electricity generation. They contributed 40% of total generation, the most so far, with renewables alone supplying 32%.

New renewables hit record levels for the 22nd consecutive year, with around 700 GW of total capacity added in 2024, nearly 80% of which was solar power.

Birol: The IEA report puts some clear facts on the table about what is happening globally

Photovoltaic and wind power output increased by a record 670 TWh, while generation from natural gas rose by 170 TWh and coal by 90 TWh. In the European Union, the share of generation provided by solar and wind surpassed the combined share of coal and gas for the first time. In the United States, the share of photovoltaics and wind rose to a combined 16%, overtaking coal. In China, they reached nearly 20% of total production.

According to IEA Executive Director Fatih Birol, there are many uncertainties in the world today and different narratives about energy, but the report puts some clear facts on the table about what is happening globally.

“What is certain is that electricity use is growing rapidly, pulling overall energy demand along with it to such an extent that it is enough to reverse years of declining energy consumption in advanced economies. The result is that demand for all major fuels and energy technologies increased in 2024, with renewables covering the largest share of the growth, followed by natural gas. And the strong expansion of solar, wind, nuclear power and EVs is increasingly loosening the links between economic growth and emissions,” he stressed.

Natural gas recorded the strongest demand growth among fossil fuels

As a result of the rise in power consumption, natural gas saw the strongest demand growth among fossil fuels. It increased by 2.7% in 2024, rising by 115 billion cubic metres, compared with an average of around 75 billion annually over the past decade.

China had the largest absolute growth in gas demand in 2024, by over 7% or 30 billion cubic meters. Demand expanded by around 2% or 20 billion in the United States, and modestly in the European Union.

Coal demand increase was driven by cooling needs

Global coal demand rose by 1% in 2024, half the rate of increase seen the previous year, according to the report.

Intense heatwaves in China and India pushed up electricity consumption for cooling. The two countries contributed more than 90% altogether of the annual increase in coal consumption globally, the report underlined.

CO2 emissions from the energy sector continued to increase in 2024 but at a slower rate than in 2023.

“Growth in energy-related carbon dioxide (CO2) emissions continues to decouple from global economic growth. Emissions growth slowed to 0.8% in 2024, while the global economy expanded by more than 3%,” IEA said.

Global energy demand grew at a faster-than-average pace in 2024. The increase was led by the electricity sector, driven by extremely high temperatures, electrification and digitalization. Renewables and natural gas covered the majority of additional energy needs while renewables and nuclear energy did the same for the growth in power generation, according to the IEA’s Global Energy Review.

The latest edition of the IEA’s Global Energy Review brings data on energy demand, supply, the uptake of new energy technologies and energy-related carbon dioxide (CO2) emissions.

Global energy demand rose by 2.2% last year – lower than GDP growth of 3.2% but considerably faster than the average annual demand increase of 1.3% between 2013 and 2023, the report underlines.

Emerging and developing economies accounted for over 80% of the increase in global energy demand in 2024. In China, energy consumption rose by less than 3%, half its 2023 rate and well below the country’s recent annual average. After several years of declines, advanced economies saw a return to growth, with their energy demand increasing by almost 1% in aggregate, according to the report.

Demand for all fuels and technologies expanded in 2024. The increase was led by the power sector as electricity demand surged by 4.3%, well above the 3.2% growth in global GDP.

Global electricity consumption rose by nearly 1,100 TWh in 2024, more than twice the annual average increase over the past decade. China made up more than half of the global increase in electricity demand.

The electricity consumption has increased due to higher demand for cooling, rising consumption by industry, the electrification of transport and growth of data centers and artificial intelligence, according to the report.

Electricity use in buildings accounted for nearly 60% of overall growth in 2024. The power capacity of data centers globally increased by an estimated 20%, or around 15 GW, mostly in the US and China. Meanwhile, global sales of electric cars rose by over 25%, surpassing 17 million units and accounting for one fifth of all car sales.

Renewables covered the biggest share (38%) of global energy supply growth, followed by natural gas (28%), coal (15%), oil (11%) and nuclear (8%), the report reads.

Renewables and nuclear energy together provided 80% of the growth in global electricity generation. They contributed 40% of total generation, the most so far, with renewables alone supplying 32%.

New renewables hit record levels for the 22nd consecutive year, with around 700 GW of total capacity added in 2024, nearly 80% of which was solar power.

Birol: The IEA report puts some clear facts on the table about what is happening globally

Photovoltaic and wind power output increased by a record 670 TWh, while generation from natural gas rose by 170 TWh and coal by 90 TWh. In the European Union, the share of generation provided by solar and wind surpassed the combined share of coal and gas for the first time. In the United States, the share of photovoltaics and wind rose to a combined 16%, overtaking coal. In China, they reached nearly 20% of total production.

According to IEA Executive Director Fatih Birol, there are many uncertainties in the world today and different narratives about energy, but the report puts some clear facts on the table about what is happening globally.

“What is certain is that electricity use is growing rapidly, pulling overall energy demand along with it to such an extent that it is enough to reverse years of declining energy consumption in advanced economies. The result is that demand for all major fuels and energy technologies increased in 2024, with renewables covering the largest share of the growth, followed by natural gas. And the strong expansion of solar, wind, nuclear power and EVs is increasingly loosening the links between economic growth and emissions,” he stressed.

Natural gas recorded the strongest demand growth among fossil fuels

As a result of the rise in power consumption, natural gas saw the strongest demand growth among fossil fuels. It increased by 2.7% in 2024, rising by 115 billion cubic metres, compared with an average of around 75 billion annually over the past decade.

China had the largest absolute growth in gas demand in 2024, by over 7% or 30 billion cubic meters. Demand expanded by around 2% or 20 billion in the United States, and modestly in the European Union.

Coal demand increase was driven by cooling needs

Global coal demand rose by 1% in 2024, half the rate of increase seen the previous year, according to the report.

Intense heatwaves in China and India pushed up electricity consumption for cooling. The two countries contributed more than 90% altogether of the annual increase in coal consumption globally, the report underlined.

CO2 emissions from the energy sector continued to increase in 2024 but at a slower rate than in 2023.

“Growth in energy-related carbon dioxide (CO2) emissions continues to decouple from global economic growth. Emissions growth slowed to 0.8% in 2024, while the global economy expanded by more than 3%,” IEA said.

With 585 GW of capacity additions, renewables accounted for over 92.5% of power expansion globally in 2024, the International Renewable Energy Agency (IRENA) said. Solar power and wind dominated again, as did China. The country contributed a stunning 63.8% in total, and 61.5% and 70.5% in the two technologies, respectively. It surpassed a 50% share in the world’s operational photovoltaic capacity.

In Southeastern Europe, eight countries had solar power expansion rates above the global 32%. Croatia almost doubled its PV capacity, while Turkey had almost as much online as all others put together.

Renewable Capacity Statistics 2025, released by the International Renewable Energy Agency (IRENA), show a massive increase in renewable power capacity during 2024, reaching 4.49 TW. The record 585 GW addition last year makes up a 92.5% share of the total, and the rate of annual growth hit an all-time high 15.1%.

Solar energy accounted for a tremendous 77.2% of all expansion. It grew by 452 GW in absolute terms, or 32%, to 1.87 TW. The technology topped 1 TW just two years before. Notably, Global Solar Council earlier declared that the 2 TW threshold of total photovoltaic capacity was reached in 2024.

IRENA said wind energy surged 11.1% (113 GW) to 1.13 TW. Hydropower achieved net growth of only 1.1% or 15.5 GW, to 1.43 TW.

It should be said here that the output from hydro and wind is three and almost two times higher, respectively, per unit of capacity than that from photovoltaics.

The bioenergy segment grew 3.2% to 151 GW, while geothermal added 2.5%, reaching 15.4 GW. As for pure pumped storage (excluding the facilities with dual use), a technology essential for balancing intermittent sources, the capacity increased by a neglectable 0.4%, to 142 GW.

China still eclipsing rest of world in expansion in three main renewables technologies

Solar and wind energy continued to dominate renewables capacity expansion, jointly accounting for 96.6% of all net additions.

“Renewables renew economies. But the shift to clean energy must be faster and fairer – with all countries given the chance to fully benefit from cheap, clean renewable power,” said United Nations Secretary-General António Guterres.

Indeed, the picture would be completely different without China. It is by far the strongest force in the sector, including the production of equipment for renewable electricity plants.

At the current pace, the world would come up 0.8 TW short of the 2030 climate-related renewables target

China accounted for 63.8% of last year’s added capacity, 70.5% of wind power and 61.5% of photovoltaic systems. It boosted its hydropower fleet by 14.4 GW, a whopping 93% of the total, to 436 GW.

The country’s overall renewables capacity soared 25.7% to 1.83 TW. The wind power item increased 18.1% to 522 GW and the installed capacity of PV systems spiked 45.6% to 888 GW. It means China now hosts more than half of the world’s solar power!

Maintaining the overall growth rate in renewables registered in 2024 would bring the global capacity to 10.4 TW by 2030. It would be 0.8 TW below the target for keeping global warming at a maximum 1.5 degrees Celsius.

Turkey boosts PV fleet by 76% to 19.9 GW in 2024

Countries in the region that Balkan Green Energy News tracks mostly achieved stellar progress in photovoltaics, while other segments generally stagnated.

Turkey is undisputed in solar power – growing 76% to 19.9 GW, while all others had almost 22.5 GW put together last year. The wind sector was solid, rallying 9.9% to just under 13 GW. Of note, Serbia’s wind power capacity growth, 18.4%, was the only one above the global rate. Its total reached 604 MW.

Eight countries in Southeastern Europe beat the world’s average in the expansion of photovoltaics last year, according to the new statistics.

After Turkey, the biggest solar power capacity, 9.3 GW, and absolute increase, 2.58 GW, is in Greece. The country registered a 39% growth.

In percentage terms, Croatia is the first in the Balkans, with 86%. It had 860 MW of solar power online. Romania’s capacity jumped 57% to 4.7 GW. Bulgaria added 1 GW, or 34%, reaching 3.9 GW. Slovenia hosted 1.31 GW of solar power at the end of last year, increasing it by 27%.

North Macedonia grew 65% to 833 MW and Cyprus increased its PV fleet by 25% to 724 MW.

The remaining markets are all near the bottom of the list in Europe in solar power capacity. Albania had 307 MW in operation, advancing 48% year over year.

The update shows Serbia at 241 MW or 22% more than one year before. Montenegro had 30 MW, compared to 17 MW in 2023. Bosnia and Herzegovina remained at 212 MW and Kosovo* was stuck at 20 MW in the report that IRENA published, indicating a lack of new data.

With 585 GW of capacity additions, renewables accounted for over 92.5% of power expansion globally in 2024, the International Renewable Energy Agency (IRENA) said. Solar power and wind dominated again, as did China. The country contributed a stunning 63.8% in total, and 61.5% and 70.5% in the two technologies, respectively. It surpassed a 50% share in the world’s operational photovoltaic capacity.

In Southeastern Europe, eight countries had solar power expansion rates above the global 32%. Croatia almost doubled its PV capacity, while Turkey had almost as much online as all others put together.

Renewable Capacity Statistics 2025, released by the International Renewable Energy Agency (IRENA), show a massive increase in renewable power capacity during 2024, reaching 4.49 TW. The record 585 GW addition last year makes up a 92.5% share of the total, and the rate of annual growth hit an all-time high 15.1%.

Solar energy accounted for a tremendous 77.2% of all expansion. It grew by 452 GW in absolute terms, or 32%, to 1.87 TW. The technology topped 1 TW just two years before. Notably, Global Solar Council earlier declared that the 2 TW threshold of total photovoltaic capacity was reached in 2024.

IRENA said wind energy surged 11.1% (113 GW) to 1.13 TW. Hydropower achieved net growth of only 1.1% or 15.5 GW, to 1.43 TW.

It should be said here that the output from hydro and wind is three and almost two times higher, respectively, per unit of capacity than that from photovoltaics.

The bioenergy segment grew 3.2% to 151 GW, while geothermal added 2.5%, reaching 15.4 GW. As for pure pumped storage (excluding the facilities with dual use), a technology essential for balancing intermittent sources, the capacity increased by a neglectable 0.4%, to 142 GW.

China still eclipsing rest of world in expansion in three main renewables technologies

Solar and wind energy continued to dominate renewables capacity expansion, jointly accounting for 96.6% of all net additions.

“Renewables renew economies. But the shift to clean energy must be faster and fairer – with all countries given the chance to fully benefit from cheap, clean renewable power,” said United Nations Secretary-General António Guterres.

Indeed, the picture would be completely different without China. It is by far the strongest force in the sector, including the production of equipment for renewable electricity plants.

At the current pace, the world would come up 0.8 TW short of the 2030 climate-related renewables target

China accounted for 63.8% of last year’s added capacity, 70.5% of wind power and 61.5% of photovoltaic systems. It boosted its hydropower fleet by 14.4 GW, a whopping 93% of the total, to 436 GW.

The country’s overall renewables capacity soared 25.7% to 1.83 TW. The wind power item increased 18.1% to 522 GW and the installed capacity of PV systems spiked 45.6% to 888 GW. It means China now hosts more than half of the world’s solar power!

Maintaining the overall growth rate in renewables registered in 2024 would bring the global capacity to 10.4 TW by 2030. It would be 0.8 TW below the target for keeping global warming at a maximum 1.5 degrees Celsius.

Turkey boosts PV fleet by 76% to 19.9 GW in 2024

Countries in the region that Balkan Green Energy News tracks mostly achieved stellar progress in photovoltaics, while other segments generally stagnated.

Turkey is undisputed in solar power – growing 76% to 19.9 GW, while all others had almost 22.5 GW put together last year. The wind sector was solid, rallying 9.9% to just under 13 GW. Of note, Serbia’s wind power capacity growth, 18.4%, was the only one above the global rate. Its total reached 604 MW.

Eight countries in Southeastern Europe beat the world’s average in the expansion of photovoltaics last year, according to the new statistics.

After Turkey, the biggest solar power capacity, 9.3 GW, and absolute increase, 2.58 GW, is in Greece. The country registered a 39% growth.

In percentage terms, Croatia is the first in the Balkans, with 86%. It had 860 MW of solar power online. Romania’s capacity jumped 57% to 4.7 GW. Bulgaria added 1 GW, or 34%, reaching 3.9 GW. Slovenia hosted 1.31 GW of solar power at the end of last year, increasing it by 27%.

North Macedonia grew 65% to 833 MW and Cyprus increased its PV fleet by 25% to 724 MW.

The remaining markets are all near the bottom of the list in Europe in solar power capacity. Albania had 307 MW in operation, advancing 48% year over year.

The update shows Serbia at 241 MW or 22% more than one year before. Montenegro had 30 MW, compared to 17 MW in 2023. Bosnia and Herzegovina remained at 212 MW and Kosovo* was stuck at 20 MW in the report that IRENA published, indicating a lack of new data.