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World far off track from tripling renewables by 2030

Two years after a pledge at COP28 to triple global renewables capacity to 11 TW by 2030, a new analysis by Ember shows the world is only on track to double it, to 7.4 TW. The report finds that national targets have increased globally by just 2% since 2023 and that only 22 countries have updated their goals since COP28, mostly in the European Union.

Bruce Douglas, CEO of the Global Renewables Alliance (GRA), said it is “crazy to see how far off track” the world is from tripling renewables. In a LinkedIn post, he warned that despite renewable energy breaking records every year and the energy transition being inevitable, countries are not moving fast enough.

Douglas: Despite renewable energy breaking records, countries are not moving fast enough

The International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA) have both confirmed that doubling energy efficiency and tripling renewables capacity is the fastest and cheapest way to decarbonize and deliver energy security in this decade, he wrote.

The new data, according to him, should be used to double global efforts, hold governments to account for what they signed up to, and encourage all stakeholders to seize this once-in-a-generation opportunity. Ember’s report states that increases in national commitments, followed by swift implementation, can help bring the global tripling goal within reach.

Ember: Increased targets and swift implementation can help triple renewables

According to Ember, among the top 20 electricity producers globally, national ambition remains largely unchanged.

The United States does not have a national target for renewable energy by 2030 and is not expected to set it in the near future. India’s target of 500 GW remains unchanged, while Russia does not have a 2030 target and is not expected to publish one.

China is currently finalizing its 15th five-year energy plan, which is expected to include a renewable energy target by 2030, according to Ember.

Its analysis comes at a time when countries are preparing for COP30 in Brazil in November.

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Bosnia and Herzegovina’s power utility keeps posting losses amid weak output, increased imports

State power utility Elektroprivreda Bosne i Hercegovine (EPBiH) failed to stabilize its operations and turn a profit in the first half of 2025, posting a loss of BAM 45.47 million (EUR 23.25 million) instead. The poor performance was largely due to reduced electricity production and increased imports caused by a coal shortage.

EPBiH’s target for the first six months of 2025 was BAM 11 million in profit. Instead, the state power utility generated a loss that was by BAM 18.76 million higher than in the same period of 2024, when the loss amounted to BAM 26.71 million, according to Biznisinfo.

EPBiH suffered a net loss of EUR 29.4 million in 2024, following a EUR 170 million loss in the previous year.

In the first half of this year, EPBiH’s hydropower plants generated 121.8 GWh less electricity than planned, while output at its thermal power plants fell short of the target by as much as 651.4 GWh amid a coal shortage. At the same time, due to the lower production in its own power plants, EPBiH’s expenditure on electricity purchases was several times higher than planned.

The lower production and losses were mainly due to the coal shortage

In H1 2025, Bosnia and Herzegovina imported almost 4.5 times more electricity than it did in the same period in 2024, reflecting the difficult state of EPBiH and the other two power utilities in the country – Elektroprivreda HZHB (EPHZHB) and Elektroprivreda Republike Srpske (ERS).

EPBiH recorded a loss despite higher revenues

EPBiH recorded the six-month loss despite an increase in total revenues, from BAM 561.8 million in H1 2024 to BAM 745.1 million in the first half of this year. Revenues from power purchase agreements grew from BAM 549.3 million to BAM 733.3 million.

Total expenditures, however, increased to BAM 790.6 million from BAM 588.5 million in the first half of last year.

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CW Enerji to tap on subsidies in Turkey for solar panel factory project

CW Enerji earmarked USD 520 million for the expansion of its solar panel manufacturing capacity in Antalya to 5 GW per year. It said it would benefit from the government’s HIT-30 incentives program.

While Europe is stagnating in solar panel production and some large facilities are even closing under pressure from China’s increasing global dominance, Turkey is expanding its industrial base across new green energy technologies. CW Enerji is about to invest USD 520 million in the construction of a photovoltaic equipment factory, Anadolu Agency reported.

The company said it would implement the project under the government’s HIT-30 incentives program for high technology. The location is in AOSB – Antalya Organized Industrial Zone in the country’s southern, Mediterranean region.

High domestic content enables access to subsidies

CW Enerji’s new facility, would complement the existing CW Solar Cell factory. It makes up to 1.2 GW of TOPCon high-efficiency solar cells per year and the company claims it is the largest in Europe.

The upcoming investment would enable an annual capacity of 5 GW by the end of the second phase, in 2028, according to the company. The products would have a domestic content of more than 80%, complying with the requirements for tax incentives, CW Enerji’s Chairman Tarık Sarvan said.

He founded the company in Turkey in 2010. It also makes other components and provides installation and maintenance services. CW Enerji has established subsidiaries in Munich, Germany, and Houston, Texas. Total solar panel capacity is 1.8 GW per year and it exports to nearly 60 countries, Sarvan added. He pointed out that the company’s target markets are the United States and Europe.

Dozens of companies manufacturing PV equipment in Turkey

Right before CW Enerji’s announcement, Astronergy allocated USD 700 million for its second solar module factory, in Balıkesir.

Early this year, 75 solar panel manufacturers operated in Turkey. Put together, their annual capacity was 44.5 GW. Three were making solar cells and their overall capacity was 6.1 GW per year.

The country is also strong in other technologies, like for geothermal power plants.

The government recently declared a 2035 target for solar and wind of 120 GW in total. At the end of June, Turkey’s total electricity capacity was 119,6 GW, of which photovoltaics accounted for just under 23 GW.

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Three cities reviving protests against Rio Tinto’s lithium project in Serbia

Opponents of Rio Tinto’s plan to mine and process a lithium and boron ore called jadarite in western Serbia held a protest in Loznica. Representatives of local activist group Ne damo Jadar announced that such gatherings would be organized in the nearby cities of Valjevo and Šabac as well.

Several thousand people demonstrated in the western Serbian city of Loznica against Rio Tinto’s project Jadar, marking what could be the start of another in a string of protests, which began in 2021. Activists from the area said rallies would be held in neighboring cities, too, with a possibility of expansion throughout the country.

Marijana Petković from the Ne damo Jadar group accused the authorities of breaking the law by approving new infrastructure to be built for the planned lithium and boron mining operation and a processing facility. Rio Tinto filed in February for connecting a future 110 kV transformer station to the grid. The activists are also upset because of indications that the company expects to get approval for an exploitation field. It would imply priority in mining the unique lithium and boron ore, called jadarite.

The Lotel television station in Loznica never came to the Gornje Nedeljice village nor has it given the opportunity to the opponents of the Jadar project to speak, said Nebojša Petković from local group Ne damo Jadar

At the protest, the building of local media outlet Lotel was spray-painted and a poster saying “disturbing content” was glued onto it.

“They don’t have any big influence, but they do on a part of the population in Loznica. And they never came to Nedeljice to film what we have, those houses of ours that are whole, nor to film the demolished houses. They never produced a single report. They never gave the opportunity to us or to experts, not a single opponent of the Jadar project, to come to their television studio,” Nebojša Petković from Ne damo Jadar told N1 TV.

The village of Gornje Nedeljice, where the activist group is based, is the site of the proposed mine and processing plant.

Nebojša Petković pointed out that national TV stations of France, Italy and Sweden and other countries and even one from Japan have reported about the Jadar project.

Next protest scheduled for July 24 in Valjevo

The next protest is scheduled for July 24 in Valjevo, and one will probably be held in Šabac, according to Nebojša Petković. He stressed that further activities in the three cities would be coordinated. Exploratory drilling has been conducted around Valjevo and Šabac, too, prompting numerous protests.

Petković jokingly called the three cities the Serbian Bermuda triangle and expressed hope that other areas in Serbia would join the resistance.

The planned investment has been countered by some of the biggest and most widespread protests ever held in the country, in several waves. The European Commission approved a strategic status in early June to the Jadar project.

Balkan Green Energy News has a chronological overview of the key events since 2001.

Nearby lithium project across the river Drina, in BiH, also faces resistance

Notably, in a repeated vote held recently in the National Assembly of the Republic of Srpska, a civic initiative to declare Majevica a natural park failed to receive sufficient support from lawmakers. The mountain is near Jadar, on the other side of the Drina river, in Bosnia and Herzegovina. The Republic of Srpska is one of the two political entities making up Serbia’s neigboring country, and the other one is called the Federation of BiH.

Activists are also demanding an urgent moratorium on the approval of concessions for exploration and exploitation of ores and other resources.

Citizens in the area have held multiple rallies against the local lithium mining project, supported by local authorities.

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Bulgaria preparing more BESS subsidies amid boom in construction of large facilities

The Ministry of Energy of Bulgaria is reportedly working on a public call for EUR 120 million in state aid for investments in battery energy storage systems of 1.5 GWh overall. Many projects have been stuck since the European Union suspended funding, but major deals are underway nevertheless, alongside the construction of large facilities.

Bulgaria has managed to renegotiate the terms of the National Recovery and Resilience Plan (NNRP) with the European Commission, allocating another EUR 120 million for support for battery energy storage systems (BESS). Instead of awarding the grants to the projects that didn’t meet the quota in the National Infrastructure for Storage of Electricity from Renewable Sources (RESTORE) call for standalone facilities, the Ministry of Energy is preparing a separate competitive procedure, Kapital reported.

The EUR 120 million is apparently intended for supporting 1.5 GWh, compared to EUR 587 million last time, for 9.7 GWh. The move is far-fetched, as all battery facilities under the NRRP are required to come online already by the end of March.

The EU has blocked payments to Bulgaria from its Recovery and Resilience Facility (RRF), adding to the crunch. It’s why the winners from the RESTORE procedure still haven’t signed their contracts. However, the next tranche could be released soon.

Developers, contractors counting gigawatt-hours in BESS projects in Bulgaria

Small players are stretched the most by the lack of financing. On the other hand, many projects are advancing even before or without the grants.

Sunterra Re has entered into a strategic partnership with Sungrow to add the China-based company’s BESS solutions to its largest three solar power plants in Bulgaria. Total storage capacity is envisaged at more than 1 GWh. The Bulgarian operator said it already has 300 MWh.

Sunotec has struck massive deals for the deployment of its BESS solutions in Bulgaria

The deal is for the MV-Power Titan 2.0 lithium-iron-phosphate batteries and accompanying equipment and software. Sunterra Re owns PV plants Dalgo Pole (208 MW) Galabovo (201.4 MW) Karlovo (115 MW) and Pleven (9.6 MW).

Sungrow has just achieved another massive deal, with Sunotec.

Solaris Holding, a joint venture of the Bulgarian-German Sunotec and the main shareholders of Eurohold Bulgaria (Evrohold), recently commissioned a large hybrid power plant.

Bulgaria is among EU’s strongest BESS markets

Two months ago, a BESS facility of 124.1 MW in operating power, the largest in the country, was inaugurated in Lovech. At the time, the Ministry of Energy claimed it was the biggest in the EU.

Of note, Bulgarian company International Power Supply (IPS) is opening a factory for battery energy storage systems near Sofia. However, the Association for Production, Storage and Trading of Electricity (APSTE) warned that the government’s recycling levy for the installation of photovoltaic panels and BESS is five to 10 times higher than EU averages.

Bulgaria is one of the most lucrative markets for battery storage in Europe, given its wide range between the highest and lowest intraday wholesale electricity price.

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KKR to provide Greenvolt with EUR 150 million capital boost

Greenvolt Group said its majority owner KKR fully subscribed to a EUR 150 million share capital increase. The transaction will especially support investments in battery storage.

In two tranches, KKR will increase the capital of its subsidiary Greenvolt by EUR 150 million. The injection is particularly aimed for the segment of utility-scale battery energy storage systems. The transaction reflects continued confidence in Greenvolt’s execution capabilities and long-term growth potential, the statement adds.

The update revealed the first phase of the capital increase, totaling EUR 100 million, would be completed in the coming days, and that the rest is expected to be completed by September 30. The Portuguese firm’s core business segments are sustainable biomass, utility scale, and distributed generation.

Greenvolt sold renewable energy assets for EUR 528.3 million in the first half of the year

It tends to sell 70% to 80% of its large-scale projects at the ready-to-build (RtB) or commercial operation date (COD) phases. Greenvolt said two months ago that it held a 13.2 GW pipeline across 18 countries, aiming to bring at least 5.3 GW to RTB by the end of the year. The renewable energy company has a probability-weighted pipeline of 4.3 GW in BESS across nine countries, with projects under construction in Poland, the United Kingdom and Hungary.

Greenvolt said its asset rotation sales in the first half of the year reinforced its capacity to finance the next investment cycle in Europe, North America and Asia.

“This capital increase is part of the path we’ve been building alongside our shareholder and once again demonstrates its commitment to Greenvolt’s strategy,” Chief Executive Officer João Manso Neto stated.

In early June, the company said it has agreed to sell a 231 MW portfolio of wind and solar projects in Spain, through its partnership with Green Mind Ventures, to Transiziona. The deal was worth EUR 195 million. Earlier this year, Greenvolt divested of EUR 333.3 million worth of utility-scale assets in Poland, mostly wind power.