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August 15, 2025
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Kragujevac heating plant begins ash removal from disposal site in city center

District heating plant Energetika has begun removing coal ash from an uncovered disposal site that has been polluting air and soil for years in the heart of Kragujevac, Serbia’s fourth-largest city. The effort is part of a project financed by an EUR 18 million loan from the European Bank for Reconstruction and Development (EBRD), to decarbonize the local district heating system.

The ash from Kragujevac is transported to cement plants in Kosjerić and Popovac to be used in the production of cement and construction materials, in line with circular economy principles, according to Serbian Minister of Environmental Protection Sara Pavkov.

On the first day, about 75 tons of ash was removed from the site, with plans to transport a total of 60,000 tons over 24 months.

The ash will be used in cement production in Kosjerić and Popovac

Ash removal is the second phase of the district heating decarbonization project in Kragujevac. In the first phase, old boilers were replaced with gas-fired units, significantly reducing air pollution, according to Dejan Ružić, deputy mayor of Kragujevac. This marked the end of coal use in the city’s district heating system.

The EBRD approved the loan for the project in 2021. Of the total amount, EUR 14 million was earmarked for boiler replacement, together with up to EUR 4 million for ash removal.

In the first phase, coal-fired boilers were replaced with gas-fired units

The bank said at the time that gas-fired boilers would have a capacity of 110 MW and that CO2 emissions from district heating would be cut by an estimated 66%, with sulfur dioxide and particulate matter (PM) emissions eliminated.

The Ministry of Environmental Protection has hired Novi Sad-based engineering and consultancy firm AG Institut to monitor the ash disposal services under a EUR 73.900 contract. The works are targeted for completion by July 15, 2027.

Aleksandar Lazović, general manager of the district heating plant, said the works would be carried out in line with the highest environmental standards, in a covered area, to prevent ash from dispersing into the environment.

District heating decarbonization in several Serbian cities

In June this year, Serbia and the EBRD signed a EUR 50 million loan to finance a series of air quality projects in Belgrade, Niš, Valjevo, Zaječar, Novi Pazar, and Smederevo, which had been mapped as cities with the largest excesses of harmful emissions.

The planned projects include replacing outdated boilers running on fuel oil, coal, and other air-polluting fuels with modern and sustainable heat energy sources, such as heat pumps, biomass, and industrial waste heat.

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August 14, 2025
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DRI secures financing for Vacaresti solar park in Romania

Renewable energy firm DRI has secured financing for the construction and operations of its Vacaresti solar park in Romania.

DRI, UniCredit and Garanti BBVA have signed an agreement for non-recourse loans of up to EUR 60 million to finance the construction and operations of the Vacaresti solar park in Romania.

DRI is Ukraine-based DTEK’s renewables subsidiary in the European Union.

The loan is inclusive of a long-term, fully amortizing construction and term loan, value-added tax, a debt service reserve facility, and the letter-of-credit facilities, according to the firm.

The project is expected to come online in the autumn

The loan structure is aligned with Green Loan Principles and the European Union’s Taxonomy Alignment Criteria, DRI added. It serves as a cornerstone of the EU’s sustainable finance framework and a key tool for market transparency, by providing clear guidelines for direct investments that support the green transition in line with the objectives of the European Green Deal, the press release reads.

The solar power plant will be located in the Văcărești area in Dâmbovița county. The project is for 126 MW in peak capacity, enough to power about 50,000 households and avoid 48,600 tonnes of carbon emissions per year. Construction kicked off in January 2025 and the project is expected to be online in the autumn.

The buyer of 50% of the electricity output is oil and gas company OMV Petrom. The deliveries will start in January 2027. It is a part of Romania’s largest physical solar power purchase agreement (PPA), signed last December, DRI noted.

Geliukh: DRI is demonstrating its capability to partner with globally renowned financial institutions

“With the signing of this project financing agreement, we have reached another important milestone: this is DRI’s first internationally led syndicated financing, our first certified green loan, and our first multi-currency loan,” DRI CEO Ivan Geliukh stressed.

In his words, it is an important achievement not only for DRI but also for Romania, contributing to the development of renewable energy in the country.

With the project, DRI is demonstrating its capability to partner with globally renowned financial institutions like UniCredit, and with Garanti BBVA, one of Romania’s leading local lenders, according to Geliukh.

DRI has three operational projects in Romania

In Romania, DRI has three operational projects with a total peak capacity of 173 MW. Solar parks Glodeni I and Glodeni II have a combined installed capacity of 113 MW. They are one of the largest renewable energy sites in the country, according to the company.

The 60 MW Ruginoasa wind farm was built in just 10 months. It was the first in the country after a decade, according to the firm.

DRI now has a 1.3 GW portfolio of projects in operation, construction and other stages of development. The company is also active in Croatia.

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August 14, 2025
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Worrying results of coal, overburden production in BiH’s power utility

Coal deliveries to thermal power plants in the first half of the year reached 73% of the plan, while only 43% of the overburden excavation target was achieved, warned Sanel Buljubašić, CEO of Bosnia and Herzegovina’s state-owned power utility Elektroprivreda Bosne i Hercegovine (EPBiH).

Increasing coal production is the only way to stabilize the energy system in the Federation of Bosnia and Herzegovina (FBiH), Sanel Buljubašić told state news agency Fena. Focus.ba republished the report.

FBiH is one of the two entities making up BiH. The other one is the Republic of Srpska.

The chief executive pointed to the significance of coal, stressing that 80% of EPBiH’s production comes from coal power plants, with hydropower plants providing the remainder.

Of note, the company recorded a loss of BAM 45.47 million (EUR 23.25 million) for the first half of this year. BiH’s electricity imports were 4.5 times higher than in the same period of 2024.

Buljubašić: We will fulfill our obligations only if the mines fulfill theirs

Buljubašić recalled that the Government of FBiH raised the price of coal at the beginning of 2024 and signed a new collective agreement in the mining sector to demonstrate its commitment to improving working conditions for miners and their status.

The coal mines are operating under an entity called EPBiH Concern. They must produce the planned quantities of coal, which have been jointly agreed and contracted, the CEO underscored and added that EPBiH would meet its obligations only if the mines do the same.

Buljubašić said RMU Breza and RMU Đurđevik are facing the most pressing issues while that RU Kreka is making its best result of the past three years. Coal mine operators RU Kreka, RMU Kakanj, and RMU Abid Lolić have increased production, he added.

Of the nearly 5,000 workers, 1,226 are occupationally disabled

The company head said EPBiH Concern’s mines employ 4,967 workers, of whom 1,226 are occupationally disabled. Additionally, on average, between 1,500 and 1,700 employees are absent every day for various reasons, such as annual leave or sick leave.

In his words, restructuring would imply a program for surplus workers at RMU Zenica, closing mines that are technologically and economically unviable and continuing investments by procuring equipment for economically viable mines to increase productivity.

One of the main problems is the devastated coal deposits, a result of years of delay in overburden excavation, Buljubašić stressed.

Just transition includes mine shutdowns, installation of solar power, batteries, and the use of biomass

The just transition project in BiH’s coal regions, estimated at BAM 160 million (EUR 81.8 million), is being implemented with a World Bank loan. Most of the funds will be spent on closing mines and taking care of surplus employees of RMU Zenica, repurposing RU Kreka’s land, building the 12.2 MW Dubrave photovoltaic plant, repurposing the land of RMU Banovići and installing another solar power plant, of 15 MW, the CEO explained.

He pointed out that the authorities are preparing a law on the closure of Zenica mines — the first such legislation in BiH.

Green investments within a just transition platform for coal regions can include the construction of battery energy storage systems (BESS) and fast-growing biomass plantations, according to Buljubašić.

He announced that EPBiH would soon present its Prosumer 5000+ project and a long-term development plan for EPBiH for the period 2025-2050, within the energy sector development strategy.

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August 14, 2025
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Slovenia’s HESS inks 9.2 MW deal for two solar power plants near HPP Brežice

Hydropower plant operator Hidroelektrarne na Spodnji Savi will build two solar power plants with a combined capacity of 9.2 MW near its Brežice hydropower plant. It picked Končar as the contractor.

Two new photovoltaic facilities in the pipeline are the continuation of investments in solar near the Brežice hydropower plant. Hidroelektrarne na Spodnji Savi (HESS), owned by GEN and HSE, installed a 6 MW PV plant in May 2023 next to the reservoir of its HPP Brežice’s.

At the time, it was the largest in Slovenia, and it remains the largest hybrid system in the country.

The existing PV plant is FEBR-D3, while the two new ones are called FEBR-D1 and FEBR-D2.

“We’re excited to announce a new chapter in our collaboration with HESS,” Croatia-based Končar said.

Končar will install the two solar power plants

Končar, an engineering company, signed a contract in July for the construction of FEBR-D1 and FEBR-D2. It said the endeavor extends the partnership established at HPP Brežice. Of note, it supplied generators for the 47.4 MW HPP, which began operating in 2017.

Located just a few kilometers upstream from HPP Brežice, on the left bank of the Sava River, the two units will have a combined peak capacity of 9.2 MW, powered by 14,790 PV modules, Končar added.

The Croatian firm revealed that the contract is worth EUR 4.5 million. It sets an ambitious goal: both plants are scheduled to be fully operational and handed over to the client by the end of next year, according to Končar.

The largest solar power plant in Slovenia has a capacity of 7.1 MW

In late May, on World Sun Day, HESS announced that it obtained construction permits for the FEBR-D1 and FEBR-D2 solar plants. It is the continuation of the story within which, on June 21, 2023, Slovenia’s largest hybrid solar power plant FEBR-D3 began production, it added.

Of note, the largest solar power plant in Slovenia has a capacity of 7.1 MW. It came online last month on the border with Italy.

Hydropower and solar energy make an excellent combination, so numerous power utilities, including the ones in the Western Balkans, decided to invest. The latest example comes again from Slovenia, where Soške Elektrarne Nova Gorica (SENG), part of HSE, commissioned its first PV unit at its Avče pumped storage hydropower plant.

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August 13, 2025
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Bulgaria, Romania offer much higher renewable energy project returns than Greece – HELLENiQ Energy

The newly purchased wind and solar projects in Romania and Bulgaria will bring much higher returns than ones in the Greek market, claims George Alexopoulos, Deputy Chief Executive Officer of HELLENiQ Energy.

HELLENiQ Renewables Romania, operating under Greece-based HELLENiQ Energy, bought a wind project in Scânteiesti in Galaţi in eastern Romania, with a licensed capacity of 96 MW, and a wind project in the Vaslui region, with a licensed capacity of 186 MW.

In addition, HELLENiQ Energy completed the purchase of a photovoltaic project of 123 MW in Haskovo region in southern Bulgaria, which marks the company’s entry into the country.

The company is facing delays in the Greek renewables market

“We achieved deals on three new projects at a ready-to-build phase in Romania and Bulgaria, which are effectively consistent with our announced strategy and they allow us to have better visibility of the achievement of the interim target of 1.5 GW in operation in the next few years,” the company’s CEO Andreas Shiamishis stressed at the presentation of the financial results from the second quarter and first half of 2025.

Unfortunately, he added, when it comes to the Greek renewables market, the company is facing delays, primarily because of Greek connection terms clarity.

The three new projects are much less susceptible to future curtailment

In the view of George Alexopoulos, Deputy CEO and GM Group Strategic Planning & New Activities, the three said projects are much less susceptible to future curtailment. They also bring notably much higher financial returns than what the company is observing in the Greek market, he said.

Alexopoulos stressed the construction of one project in Romania is starting immediately and that the company expects all the assets to be operational by 2028.

“We expect returns of 10% to 12%, which is considerably higher than Greece, and capex of approximately EUR 0.5 billion, which will be financed on a project finance basis, for the most part,” Alexopoulos explained.

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August 13, 2025
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New solar park in Romania of 71 MW gets final permit for launch

Shikun and Binui Energy is about to begin delivering electricity to the grid from its Satu Mare photovoltaic plant. It is the company’s first renewables project in Romania and the surrounding region.

More than two and a half years after the start of construction, the Satu Mare solar power plant of 71 MW secured the authorization for the beginning of commercial operation, Profit.ro reported. Shikun and Binui Energy borrowed EUR 40.5 million in 2023 for the endeavor from Raiffeisen Bank International and Raiffeisen Bank Romania.

The company is part of Israel-based conglomerate Shikun and Binui, which is active in Romania’s real estate market. The photovoltaic facility in the Satu Mare county is its first investment in renewables in the country and the surrounding region. The contractor is CJR Renewables.

Project began in partnership with Monsson’s Muntmark

With the new permit, project firm Shikun and Binui Energy Satu Mare can register to begin selling electricity and start production. The PV plant spans 85 hectares. In 2021, news emerged that the company would invest up to EUR 50 million through its firm Camre Energy and in partnership with Emanuel Muntmark. He controls Monsson, one of the biggest developers of renewable energy and battery storage projects in Romania.

The same media outlet learned last year that the group intends to install over 300 MW in Buzoiești, in Argeș county. In June 2024, its subsidiary Green Energy Dynamic received technical approval for the Gold Wind onshore wind farm of 376 MW  in Constanta county in eastern Romania. The project is scheduled for completion by the end of 2028.

Earlier there were reports that Shikun and Binui was developing wind and solar power projects in Iași county.

Second solar power plant is under construction in adjacent county

The second major investment of its energy branch is the Șimleu Silvaniei PV facility. The construction of the 101 MW system began more than a year ago. It is in Sălaj county, adjacent to Satu Mare.

Shikun and Binui Energy secured a EUR 49 million loan from Raiffeisen Group for the project. It also picked CJR Renewables as the contractor for Șimleu Silvaniei.

Solar power has been dominating renewable energy investments in Romania for several years, but the wind power segment seems to be rebounding strongly. Battery energy storage systems are also strengthening their role, especially as auxilary facilities for PV and wind parks, turning them into hybrid power plants.

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