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August 19, 2025
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Hidroelectrica seeks to buy wind, solar projects totaling 520 MW

Romanian state-owned hydropower plant operator Hidroelectrica, the largest electricity producer in the country, is looking to take over a 250 MW wind farm project under development and a total of about 270 MW of solar projects.

Hidroelectrica’s plan is to acquire the companies that own the rights, permits, land, and other assets related to the renewable energy projects under development, according to a report by Profit.ro.

The plan is to acquire the companies developing the wind and solar projects

The Romanian power utility is currently selecting consultants to conduct due diligence on the projects and the development companies, before making acquisition decisions.

Hidroelectrica operates 188 hydropower plans, with a combined capacity of 6.4 GW, and only one wind park, of 108 MW. The wind park, Crucea Nord, should soon get a battery energy storage system of 36 MW under a contract signed in April this year.

In May, Hidroelectrica hired a contractor for installing its first photovoltaic plants. The solar panels, with a total capacity of 2.96 MW, are to be deployed on the roofs of 20 hydroelectric plants, in an investment valued at EUR 1.77 million.

Hidroelectrica plans to install photovoltaic panels at 20 hydropower plants and build a floating solar plant

In June, the company selected a contractor for its first floating solar power plant, of 10 MW, which would be installed on the reservoir of the Ipotești hydroelectric plant. Hidroelectrica said at the time that it intended to obtain know-how from the construction and operation of the pilot floating solar system and replicate the concept elsewhere.

Hidroelectrica has also invited bids for installing a battery energy storage system (BESS) with a nominal power of 64 MW at the Iron Gate 2 (Porțile de Fier 2) hydropower plant on the Danube. It would be used to provide balancing services to the national electricity system and adjust the time intervals of hydropower production at Iron Gate 2.

The company’s profit in the first half of 2025 dropped 41% against the same period a year earlier, to RON 1.587 billion (EUR 313.6 million) as revenue fell 16% to RON 4.315 billion (EUR 852.7 million). Its total power output decreased 27% year-on-year to 6,068 GWh, pushing electricity purchases up 62% to 674 GWh, according to Profit.ro.

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August 19, 2025
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Heat pump sales in Europe plunge in 2024

The European Union has an ambitious goal to lift the number of heat pumps to 60 million by 2030. Still, total sales of the devices in 19 European countries fell by a combined 22% last year, according to the European Heat Pump Association (EHPA).

As part of its energy transition strategy, the EU aims to have 60 million heat pumps in operation by 2030 at the latest. It would allow at least half of European buildings to be heated, and partly cooled, using renewable energy sources. Gas consumption in buildings would be 40% lower than in 2022, saving EUR 60 billion in energy imports and significantly cutting CO₂ emissions.

More than 25 million heat pumps have already been installed in Europe

The intermediate target of 20 million by 2026 was surpassed before the end of 2024, EHPA data shows. Last year, Europe had more than 25 million heat pumps installed. However, reaching 60 million units in less than six years now appears increasingly challenging.

The report notes that after steady sales growth through 2022, the market declined in both 2023 and 2024. Last year, sales in the observed group of 19 countries fell by 22%. The steepest drops were recorded in the Czech Republic (64%) and Germany (48%).

Photo (EHPA): Number of heat pumps sold every year from 2012 to 2024

The report’s authors warned that if current trends continue, the EU could fall short by about 15 million units in 2030, or 25% below the target.

Leading markets and new data from Southeastern Europe

France and Italy had the strongest sales in 2024, with 546,000 and 348,000 units, respectively. However, looking at the share of households using heat pumps, Scandinavian countries are in the lead.

Scandinavian countries are in the lead in the household heat pump segment

Norway has 632 heat pumps per 1,000 households, followed by Finland, with 524. Sales remained strong in 2024, with 48 and 33 heat pumps per 1,000 households, the highest levels in Europe.

Photo (EHPA): Number of heat pumps sold per 1,000 households in 2024

EHPA published sales estimates for nine additional European countries for the first time, including some that Balkan Green Energy News tracks. Sales in Bulgaria and Croatia amounted to 8,000 units each last year. In Cyprus, 3,000 were bought, compared to 18,000 in Greece, 4,000 in Latvia, 1,000 in Luxembourg, 6,000 in Malta, 10,000 in Romania and 13,000 in Slovenia. There are no historical data for the countries in the group for comparison.

The estimates are based on 2023 sales figures from the EurObserv’ER Heat Pump Barometer 2024, supplemented with 2024 sales estimates provided by heat pump manufacturers.

UK records the largest growth in heat pump sales

The United Kingdom, Ireland, and Portugal were the only countries achieving growth last year. Although the total number of heat pumps in the UK remains relatively small, sales increased by 56% in 2024.

Photo (EHPA): The table shows the number of units sold in 2024, followed by the decrease or increase in sales from 2023 and the total number of heat pumps at the end of 2024 by country

According to EHPA, the progress was driven by a combination of clear and stable policy, the government’s Boiler Upgrade Scheme – offering up to GBP 7,500 per household to replace fossil fuel systems – as well as removing hybrid systems from subsidy schemes, raising public awareness, and increasing the number of trained installers.

Ireland also saw strong sales growth, 19%, underpinned by long-term policy stability and a clear commitment to renewable energy. It ranks fifth in Europe in the share of heat pumps among households. The market initially grew in the new-build sector, where heat pumps have become standard, while the renovation segment is expanding thanks to subsidies and a rising carbon tax.

Additional measures needed

EHPA pointed out that stronger strategic support at the EU level, along with stable legislation and regulations, is crucial for achieving the targets.

“More heat pumps is a win-win for Europe – and it must also be the smart choice for consumers. To get there, electricity prices must be made more competitive, good long-term support schemes put in place and installers trained up, so buying a heat pump is affordable and easy,” said EHPA Executive Director Paul Kenny.

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August 19, 2025
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Good start for North Macedonia: in first two months 100k+ guarantees of origin issued

North Macedonia has issued 107,666 guarantees of origin for electricity in the first two months since introducing the mechanism.

In April, the National Electricity Market Operator (MEMO) established the Register of Guarantees of Origin for electricity.

On May 26, MEMO officially issued the first renewable energy guarantees of origin to state-owned power company Elektrani na Severna Makedonija (ESM) for electricity produced from hydropower plants.

In June, 56,620 guarantees were issued for hydropower plants, followed by 51,046 for photovoltaic plants in July, according to MEMO.

Guarantees of origin have been issued for eight power plants

The company stressed an increasing number of companies are joining the Register of Guarantees of Origin, calling it a key step in building a transparent and modern energy market.

MEMO said it ensures the compliance of national regulations with European ones by maintaining a secure and standard system for the issuance, transfer, and activation of guarantees of origin.

Guarantees of origin have been issued for eight power plants: hydropower plants Kozjak and Sveta Petka and solar power plants Oslomej, Dolani Solar, EVN Solar 1, Štip Solar, Crn Kamen 1, and Crn Kamen 2.

Energy Community members are gradually introducing guarantees of origin

In April, MEMO adopted the rules for administering guarantees of origin for electricity in line with the Law on Energy, a decree that regulates the mechanism, and the standards of the Association of Issuing Bodies (AIB).

The company is responsible for establishing and managing the register, including issuing the guarantees, recording transfers, and recognizing, revoking, and canceling GOs.

The rules are also aligned with the principles of the European Energy Certificate System (EECS). The GOs system was established in cooperation with Grexel, a company specializing in energy certificates.

The cooperation with Grexel is part of the initiative to establish a regional system for guarantees of origin initiated by the Energy Community Secretariat. The goal is to develop nine registries for the contracting parties in line with the European Union’s rules: in Albania, the two entities making up Bosnia and Herzegovina (the Federation of BiH and the Republic of Srpska), Georgia, Kosovo*, North Macedonia, Moldova, Montenegro, and Ukraine.

So far, Albania, Georgia, Montenegro, North Macedonia, and the Republic of Srpska have launched their registries.

However, implementing the initiative is not sufficient for guarantees of origin to be recognized in the EU.

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* This designation is without prejudice to positions onstatus and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.
August 18, 2025
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Serbia’s EPS reports EUR 234 million profit for first half of 2025

Elektroprivreda Srbije achieved a profit of RSD 27.4 billion (EUR 233.8 million) in the first half of 2025.

The financial result of the state-owned Elektroprivreda Srbije (EPS) is lower than in the same period of 2024, when profit amounted to RSD 32.8 billion (EUR 280.3 million). The company posted RSD 26.1 billion (EUR 222.8 million) in net income for the entire year.

The Ministry of Mining and Energy said the shareholder assembly of the Serbian joint stock company EPS has adopted the report on the implementation of its three-year business plan for the first six months of 2025, declaring a profit of RSD 27.4 billion (EUR 233.8 million).

Minister of Mining and Energy Dubravka Đedović Handanović, the sole shareholder assembly member, noted that the trend of continuous production and financial stability of the company has continued, and highlighted the importance of the results achieved in the mining sector.

The priority is to prepare machinery for the new Radljevo mine in the Kolubara basin

Coal production exceeded the plan by 8%, but more importantly, the year-over-year rise in coal production was 7%, according to Đedović Handanović.

However, in her words, it is crucial to continue the same pace, which is why great effort must be put into completing the machinery preparation project for the new Radljevo mine in Kolubara, so that overburden production can begin next year.

Reduced costs for coal procurement from outside the company

She said that through careful management of the electricity portfolio, coal stocks in depots have been maintained at a high level, around 1.68 million tons. The costs of purchasing coal from third parties are RSD 1.35 billion (EUR 11.5 million) lower than planned and significantly lower than in the past three years, Đedović Handanović said.

The minister highlighted the fact that hydrology has been unfavorable for the second consecutive year, affecting electricity production.

She recalled that in the first quarter of this year, the Petka solar power plant in Kostolac was put into trial operation. Soon, the blades of EPS’s first wind farm will be spun for testing, she Đedović Handanović added.

EPS investing in a subsidiary in Kosovo and Metohija

“It is essential to improve the management of investment activities, especially considering that work is underway on the most significant energy project – the construction of the Bistrica pumped storage hydropower plant. At the same time, it is important to continue efforts to reduce operational costs and improve customer relations,” the minister stressed.

She revealed that as part of the company’s transformation process, key performance indicators (KPIs) were introduced for executive and middle management.

The EPS assembly also approved the decision to invest in the capital of Elektrosever, the company’s subsidiary in Kosovo and Metohija.

That way it enables supplying Serbia’s citizens in four municipalities in the province’s north, she explained. More than 45% of consumers got smart meters by now from Elektrosever, the ministry stressed.

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August 18, 2025
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North Macedonia’s draft law envisages renewable energy auctions for CfDs

North Macedonia drafted the Law on the Use of Energy from Renewable Sources to facilitate a decrease in fossil fuel consumption and a rise in the share of green energy. The legislation introduces market premiums under two-way contracts for difference (CfDs), which would be approved through renewable energy auctions. It also regulates net metering and net billing for prosumers and defines renewable energy communities.

The Ministry of Energy, Mining and Minerals of North Macedonia called on citizens, experts and stakeholders to submit opinions and proposals for the draft Law on the Use of Energy from Renewable Sources. It will regulate the segment separately for the first time, “following the example of a large number of countries in the region and the EU,” the statement adds.

The public debate lasts until August 30. According to the ministry, the most significant novelty is the two-way contract for difference (CfD). It is defined in Macedonian as contract for market settlement of the price difference. The bill envisages awarding such market premiums through renewable energy auctions.

It is a mechanism that guarantees financial stability for renewable energy producers and protects consumers from extreme price fluctuations, the ministry argued. The draft is fully aligned with the European Union’s energy legislation including the Renewable Energy Directive (RED3), the update adds.

Basis for renewables deployment in heating, cooling, transportation

The proposed measures aim to lower the use of fossil fuels and grow the share of renewables in gross energy consumption, the ministry added. They facilitate support for long-term investments and faster deployment of renewable energy in heating, cooling and transportation, it underscored.

Guarantees of origin of electricity are included in the bill, together with a framework for international cooperation and energy markets.

The draft establishes the basis for the establishment of renewable energy communities of citizens and companies and other legal entities such as local authorities. The scope also involves net metering and net billing for prosumers – “consumers-producers.”

Multiapartment structures can become prosumers with units up to 50 kW

While the ministry earlier said it would raise the upper capacity limit for prosumers in the segment of households to 10 kW, the ceiling in the draft law is 10.8 kW for individual homes and 50 kW for multiapartment structures. The draft also introduces the collective prosumer, a group of citizens and commercial entities residing in the same building or apartment complex.

Prosumers with units up to 16 kW would be in the net metering mechanism. Net billing is for 16 kW to 50 kW, and larger facilities are envisaged for a commercial supply scheme.

Notably, prosumers operating power plants of over 300 kW are obligated to cover the balancing expenses, the text reads.

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August 16, 2025
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Đedović Handanović discusses Serbia’s nuclear power plan with Russian ambassador

Russia is interested in cooperating with Serbia in the nuclear energy sector. According to the authorities, the country is still a long way away from the potential construction of a nuclear power plant.

Minister of Mining and Energy of Serbia Dubravka Đedović Handanović met with the Ambassador of the Russian Federation Alexander Botsan-Kharchenko to discuss joint projects and initiatives in the energy sector. The topics included nuclear energy, natural gas and oil.

Ambassador Botsan-Kharchenko said the Russian Federation is interested in establishing cooperation with Serbia in the peaceful use of nuclear energy. Minister Đedović Handanović stressed that the preliminary technical study on the peaceful use of nuclear energy in Serbia has been completed.

The next steps in the development process have been defined, while the potential construction of a nuclear power plant remains a long way away, she stressed.

Serbia is ready to cooperate with relevant partners

She reiterated that Serbia respects the guidelines of the International Atomic Energy Agency, which are also incorporated in the country’s legal framework.

“We are currently discussing the necessary studies that would allow us, at least five years from now, to discuss the potential construction of a nuclear power plant,” she underscored.

Đedović Handanović pointed out that Serbia needs technical assistance, knowledge exchange, and capacity building to create the staff that would be capable of managing a power plant in the future. The country is eager to collaborate with relevant partners, she added.

So far, Serbia has discussed cooperation with China, France, Russia, Slovenia, South Korea and the United States.

A regulatory entity for nuclear energy will be established

Currently, the institutional framework is being prepared, primarily within the ministry, after which a regulatory entity for nuclear energy needs to be established, Đedović Handanović announced.

She stressed that Serbia aims to continue the good cooperation and finalize a new long-term natural gas supply agreement with Gazprom.

The two officials also touched upon the potential sanctions of the US Office of Foreign Assets Control (OFAC) against the national oil and gas company, Naftna Industrija Srbije (NIS). The measures have recently been postponed for the fifth time, until August 27.

Regarding the construction of the Serbia-Hungary oil pipeline, Đedović Handanović said companies NIS, Transnafta, and MOL are continuing to negotiate capacity and financial aspects of the project, and pointed out that the technical specifications of the pipeline have been agreed upon.

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