Statkraft has sold its Croatian platform to Resalta, according to the two companies. The transaction, which includes the renewable energy project pipeline and the transfer of employees, was signed and closed in July.
Norway-based Statkraft has decided to leave India, the Netherlands and Croatia in October 2024. The company started its Croatian operations in 2021. Resalta is part of Aggreko Group from Scotland.
Statkraft, Europe’s largest renewable energy producer, and Resalta, an international energy services provider operating across Central and Eastern European markets, and with a growing presence in Croatia, said Statkraft sold its Croatian platform to Resalta.
The integration process is now underway, they added.
Bellanger: Resalta will continue to develop the Croatian platform to its full potential
The platform includes a significant pipeline of renewable energy projects fully aligned with Resalta growth plan. The integration of the local team into Resalta’s operations ensures continuity and builds on their expertise to advance future development, the two companies claimed.
“We are delighted to have completed this transaction with Resalta, a company that shares our commitment to renewable energy and sustainability. With the team of seasoned project developers, we are confident that Resalta will continue to develop the Croatian platform to its full potential,” said Arnaud Bellanger, Statkraft Country Manager Croatia and France.
Komazec: Resalta is expanding its footprint in renewable energy sector in Croatia
Resalta Group CEO Luka Komazec stressed that the acquisition represents a significant step forward for Resalta as the company expands its footprint in renewable energy project development in Croatia.
“We are excited to welcome the talented team from Statkraft and look forward to working together to advance our shared vision of a sustainable energy future,” he added.
In Komazec’s words, Resalta is committed to ensuring a smooth transition for all stakeholders involved.
The largest solar power plant in Slovenia has only 7.1 MW in peak capacity and a 5 MW grid connection. The facility in the country’s southwest, on the border with Italy, has begun regular operation, according to its developer Moja elektrarna.
Slovenia is mostly leaning on small photovoltaic and battery storage installations for its renewables expansion. Moja elektrarna, a firm based in Maribor, the second-largest city, built the country’s biggest solar power facility.
The PV plant consists of 12,888 modules of 550 W apiece, Naš stik reported. It translates to barely 7.1 MW in peak capacity, in terms of direct current or DC. The grid connection, for alternating current (AC), is 5 MW.
Moja elektrarna installed the PV park at the Krvavi Potok village on the border with Italy. The facility in southwestern Slovenia is on the territory of the Hrpelje-Kozina municipality. It is expected to generate 8.4 GWh per year. The projected output is equivalent to the electricity consumption of 2,400 domestic households, the article adds.
Located next to one of the main roads to Italy, the PV plant in Krvavi Potok is suitable for powering future electric vehicle charging points
The firm said the test operation began on April 1 and that the solar power plant entered regular operation on July 1. It expects to receive the certificate of occupancy, the final permit, by September.
Moja elektrarna is a subsidiary of Austria-based PV-Invest, which earlier said the PV plant spans 7.2 hectares. The company has calculated that the solar power plant would prevent an equivalent of almost 64,000 tons of carbon dioxide emissions in total over its 30-year operating life.
Located next to one of the main roads to Italy, the facility is suitable for powering future electric vehicle charging points, according to the company. PV-Invest develops funding plans for private and institutional investors for joint photovoltaic projects supported by banks and financial institutions, according to its website.
In 2023, HESS built the now second-largest solar power plant in Slovenia in Brežice, at its hydropower plant.
The number of power purchase agreements (PPAs) for renewables in Europe fell by 31% and the volume tumbled 26% in the first half of the year from the levels in the same period of 2024, Pexapark found. Germany and France registered sharp declines in the photovoltaics segment, but a surge in Italy and Spain has more than offset the drop.
The meteoric rise in deals for battery energy storage systems, BESS, is a clear sign of its maturity.
In its latest report, analytics and advisory firm Pexapark provided a detailed look into PPAs and contracts for battery energy storage systems in the first six months of 2025. It found that PPA activity shrank by more than a quarter in year-over-year terms, but not everywhere and not due to solar power.
Across 124 deals, 6.08 GW of renewable electricity capacity was contracted in the first half, which is 31% and 26% down, respectively, from the same period of 2024. Conversely, the average deal size advanced 5% to 48.2 MW.
Notably, the April-June period was much weaker than the first quarter of the year, with just 50 deals, but the volumes were almost evenly split.
The main technologies in the first half were solar power, 4.2 GW from 73 deals, onshore wind (1.4 GW and 32 PPAs), mixed technology (290 MW and nine deals) and offshore wind (134 MW and four deals). The result is proportionate to the picture from January through June 2024.
Despite concerns over saturation of demand for standalone solar, volumes have firmed. The 4.2 GW of solar capacity contracted under PPAs compares to 3.9 GW of the first half of last year. The deal count landed at 73, against 95, which is in line with the overall trend.
PPA activity in Germany plunged 84% in terms of volume
Solar offtake activity reveals a clear split in market momentum. It is slowing down in markets where cannibalization has worsened drastically and rapidly – such as Germany and France. In fact, Germany saw the largest decline in volumes – a remarkable 84% year-on-year decrease in terms of overall volumes, with 228 MW across eight deals in the last six months, versus 1.2 GW and 31 deals in last year’s equivalent.
There is stable or even upward appetite in markets which have had time to adjust to cannibalization and the lower valuation of solar production, or where cannibalization levels are still very low
Conversely, solar PPA activity in Italy and Spain spiked, more than making up for the said decline.
“These numbers support the hypothesis that there is stable, or even upward appetite in markets which have had time to adjust to cannibalization and the lower valuation of solar production – i.e., Spain, or cannibalization levels are still very low – such as Italy. Italy’s solar PPA volumes grew 184% year-on-year, with nearly an additional 700 MW procured compared to the same period last year. Corporate appetite in the country is growing, and so is deal size – with a 420 MW solar corporate deal announced in June comprising the country’s largest PPA ever recorded,” the analysis reads.
As for Southeastern Europe, OMV Petrom’s deal with Enery for their joint solar power project Gabare in Bulgaria was Europe’ third-largest PPA in June.
Flexibility monetization is opportunity for market players with right profile
In a market increasingly driven by flexibility monetization, today’s challenges – cannibalization, future capture dynamics and balancing risks – are becoming opportunities for market players with the right profile. And with corporate buyers more hesitant to pay premiums for solar, transactable prices are—perhaps for the first time in a while – closer to perceived fair value, according to the report’s authors.
Wholesale electricity prices in Sweden were negative for almost two fifths of the time in the first six months of 2025
Hourly periods with negative prices at wholesale electricity markets continued strong in the first half. Sweden maintained its top position by far, with most such events. There were 1,635 hours with negative prices from January until the end of June. It is a stunning 37.8% share of the entire period and already 63% of the tally from all last year.
The other jurisdictions that make up the top five in Europe: Finland, Germany, the Netherlands and Belgium, remained the same since 2024.
On average, European countries have already reached around 67% of the number of hours counted in 2024 as a whole. Norway hit 90%, Denmark 87% and Spain climbed to 86%, suggesting that last year’s records would fall.
Top five European markets by number of negative price hours, 2024 vs. the first half of 2025
BESS deal volumes already three times higher than in all 2024
The maturity of the BESS industry is clearly reflected in the deal count and contracted volumes over the past 18 months, with the trend increasingly pronounced in 2025.
Battery storage capacity being contracted under optimization or fixed-revenue offtake contracts (so-called floors and tolls, respectively) amounted to a total of 4.6 GW in capability and 9.2 GWh in capacity across 36 deals. It is just over three times more than in entire 2024 in both benchmarks. The deal count was 44% up from all last year.
The lion’s share of the deal count concerns BESS assets with a two-hour duration
The rapid growth was driven by a wave of new agreements in the two most advanced markets – Great Britain and Germany – alongside first-ever BESS deals emerging in Belgium, Poland, Greece, and Bulgaria. The lion’s share of the deal count concerns BESS assets with a two-hour duration, which the ratio of operating power and capacity also indicates.
Pexapark provides of price data, market intelligence, and advisory services for renewable energy. It was one of the knowledge partners at this year’s edition of Belgrade Energy Forum, organized by Balkan Green Energy News.
US-based bank Citi and Bulgaria have established a partnership to secure funding for the construction of units 7 and 8 at the existing 2,000 MW Kozloduy nuclear power plant.
Bulgaria’s Ministry of Energy said minister Zhecho Stankov and his delegation have held final talks in New York with Citi’s management.
Following a detailed review and analysis of a technical proposal, both sides agreed to make a partnership between Kozloduy NPP – New Builds and Citi to secure funding for new nuclear power units at the Kozloduy Nuclear Power Plant site, according to the ministry.
Stankov stressed the agreement with Citi is a significant step toward the implementation of the energy project, pointing out it is a priority for the government.
Units 7 and 8 would be the first in Europe with Westinghouse’s AP1000 reactors
The construction of units 7 and 8, which would be the first in Europe to deploy Westinghouse’s AP1000 technology, will ensure the country’s energy independence and long-term stability, Stankov stressed at his meeting with Stephanie von Friedeburg, Global Head of Public Sector Banking at Citi.
With the lender’s proven expertise and strong global network, Kozloduy NPP – New Builds will provide the necessary financial framework to deliver safe, sustainable, and affordable energy for future generations, according to the project company’s Executive Director Petyo Ivanov.
Citi was picked as the exclusive coordinator and lead arranger of the export credit package
The ministry explained that Citi is becoming the exclusive coordinator and lead arranger of the export credit package. It would be the bank’s largest nuclear financing project in Central and Eastern Europe, the statement reads.
“Citi is proud to be at the forefront of financing low-carbon energy solutions. The Kozloduy expansion represents a landmark transaction, one of the first large-scale projects of its kind. This project is pivotal for Bulgaria’s energy future, and Citi is committed to providing the financial expertise to make it a reality,” Stephanie von Friedeburg said.
Of note, in November 2024, Hyundai Engineering and Construction Co., Westinghouse Electric Co., and Kozloduy NPP – New Builds signed an engineering services contract for two AP1000 reactors.
Power utility Elektroprivreda Bosne i Hercegovine aborted a waste co-incineration test at its Tuzla coal power plant. It halted the pilot project upon a request from the city authorities.
Elektroprivreda BiH (EPBiH) announced it would comply with the resolutions that the City Council of Tuzla adopted, and halt the development project for trial co-incineration of alternative SRF and RDF fuel with coal at its Tuzla thermal power plant. RDF – refuse-derived fuel, and SRF – solid recovered fuel, are made from waste, and SRF is of higher quality.
The company claimed that, being socially responsible, it bases its operations on consistent compliance with laws, regulations, and local community views, continuous improvement of environmental standards, and a commitment to transparent dialogue and cooperation with all relevant stakeholders.
The plan was to incinerate 100 tons of waste
The trial waste co-incineration was scheduled for yesterday, but the day before, the Tuzla City Council demanded its cancellation at an emergency session.
The first reports about waste incineration at the Tuzla thermal power plant emerged in 2022. EPBiH said at the time that it planned to convert unit 3 of the Tuzla thermal power plant into a cogeneration unit, using wood biomass. However, Bankwatch and the Aarhus Center accused the company of intending to mix waste in, as well.
The idea to incinerate waste in coal power plants has been widely discussed in the region for several years. In 2021, Slovenian state-owned power utility Holding Slovenske Elektrarne (HSE) abandoned a project to burn waste in its Termoelektrarna Šoštanj (TEŠ) facility, citing opposition from local authorities and citizens.
Another BiH power utility, ERS, also plans waste incineration
In May 2023, Elektroprivreda Republike Srpske (ERS), another government-controlled power utility in BiH, revealed a plan for a trial incineration of waste.
Serbia’s Elektroprivreda Srbije (EPS) has such plans, too. The company has initiated several studies and pilot projects to analyze the use of alternative fuels in coal-fired power plants.
Its last move was to ask the Ministry of Environmental Protection to determine the scope and content of the environmental impact assessment study required for the project.
Tuzla City Council: We won’t allow experiments on Tuzla’s citizens
TPP Tuzla (photo: EPBiH)
The day before the planned waste incineration, the Tuzla city parliament adopted several conclusions. Among other things, it demanded urgent action from the Federal Ministry of Environment and Tourism and EPBiH regarding the lack of consultations with local authorities.
The assembly demanded that the management of TPP Tuzla immediately suspend all activities related to the incineration of RDF waste until an urgent public discussion is held with the participation of citizens, experts, and political representatives.
The local council stressed its opposition to all plans for co-incineration and incineration of waste, specifically RDF, until it is assured that the plan complies with legal, environmental, and health requirements.
The City of Tuzla and the City Council clearly and firmly declared that they won’t permit any experiments on Tuzla’s citizens, especially ones with potentially harmful or severe or even fatal consequences for human health, as well as environmental risks, the local parliament said.
Ministry: Everything was done to ensure testing was conducted under controlled and transparent conditions
The Federal Ministry of Environment and Tourism noted that EPBiH has requested permission for a trial co-incineration of a mix of coal and alternative SRF and RDF fuel at TPP Tuzla. However, according to the current Environmental Protection Law, there is no legal obligation to obtain either an environmental permit or an environmental impact assessment for trial co-incineration, it explained.
The ministry said that for the purpose of transparency it has issued an expert opinion to ensure the testing is implemented under controlled and transparent conditions, taking into account the interests of the local community.
EPBiH informed the entity ministry that, following the local assembly’s intervention, a federal environmental protection inspector conducted an inspection at TPP Tuzla on July 7 and confirmed that all the conditions were met for testing.
The Energy Community Ministerial Council held its annual informal meeting in Athens, where the organization was founded twenty years ago. No contracting party is expected to meet the criteria for exemption from the Carbon Border Adjustment Mechanism (CBAM) in the electricity sector – the European Union is due to start charging the CO2 tax on January 1 – but the European Commission could propose amendments.
The Energy Community promotes integration, reforms and investments across the region, top officials stressed.
Ministers from the Energy Community contracting parties convened today at the Informal Ministerial Council in Athens to mark the organization’s 20th anniversary. The Energy Community Treaty, establishing the Energy Community, was also signed in the Greek capital. The purpose of the organization is to create a more integrated market, help attract investment and speed up decarbonization by aligning with the European Union’s rules on energy, environment and competitiveness.
In recent years, close cooperation has enabled the contracting parties to strengthen the security of supply, particularly against the backdrop of the ongoing Russian war in Ukraine, the Energy Community Secretariat said. During the annual gathering, hosted by the Greek Ministry of the Environment and Energy, the ministers underlined the need for an accelerated integration with the EU, grounded in delivering a secure, resilient energy transition.
Ministers agreed to revise capacity calculation regions
Many contracting parties are close to completing the reforms needed to launch the 18-month countdown to electricity market coupling – including full legal alignment under the Energy Community’s Electricity Integration Package and the appointment of nominated electricity market operators (NEMOs). If transposition is verified as compliant by the European Commission and the Energy Community Secretariat, integration will be initiated with the EU’s Single Day-Ahead Coupling (SDAC) and Single Intraday Market Coupling (SIDC).
Ministers made a breakthrough in regional coordination, backing a proposal by EU transmission system operators to revise capacity calculation regions (CCRs), now under review by the EU energy regulator ACER – Agency for the Cooperation of Energy Regulators. Recognizing the proposal’s importance for an effective operation of the interconnected grid, they called for swift follow-up, including the operationalization of regional coordination centers (RCCs) and system operation regions (SORs).
The aim is to boost electricity flows and grid security, especially along the north-south corridor of the Balkans, while laying the groundwork for full EU market coupling.
Decarbonization must accelerate ahead of CBAM implementation in 2026
To avoid disruptions to regional electricity trade, clarifying CBAM rules for electricity is a priority for the ministers, the secretariat pointed out. The EU is set to begin charging the carbon border tax on January 1.
Lorkowski: Electricity market integration and decarbonisation are two sides of the same coin
As no contracting party is expected to meet the exemption criteria by then, a proportionate and context-sensitive application of the mechanism is essential, as supported by active engagement in the European Commission’s ongoing call for evidence that precedes the future amendments of the CBAM regulation to be possibly proposed by the European Commission, in the secretariat’s view.
“Electricity market integration and decarbonisation are two sides of the same coin. The green energy transition unlocks meaningful integration with the EU market – and vice versa. Only by aligning policy, infrastructure, and pricing can contracting parties fully realise the benefits of clean, secure, and affordable energy,” said Energy Community Secretariat Director Artur Lorkowski.
The ministers called for carbon revenues to support vulnerable communities and mobilize investment in clean energy, stressing that just transition financing must go hand in hand with policy reforms.
Energy Community Treaty is now cornerstone of Europe’s energy architecture
Born out of crisis and shaped by cooperation, the Energy Community Treaty has become a cornerstone of Europe’s energy architecture, Lorkowski stressed. What began as an unlikely experiment in regional integration has grown into a dynamic framework – extending the EU’s internal energy market, strengthening energy security, and advancing the clean energy transition across South-Eastern and Eastern Europe, he asserted.
Energy Community contracting parties can fully integrate their electricity markets with the EU before joining it
“Our contracting parties are now on the cusp of a major breakthrough: full electricity market integration with the EU – even ahead of accession. This is the product of two decades of reform, dialogue, and trust-building. With the right political will, we can move from transposition to transformation,” Lorkowski stated.
In his view, Greece is the window for the Energy Community contracting parties to the liquefied natural gas (LNG) market and the access point to the European electricity system. Close cooperation with the Western Balkans has economic benefits for Greece – but beyond the economy, it is also about security and stability, Lorkowski said at the event.
Energy Community pioneered extension of EU energy market
Over the past two decades, the Energy Community has brought the EU closer to its neighbours, pioneering the extension of the trade bloc’s energy market across its borders, promoting integration, reforms and investments across the region, according to European Commissioner for Energy and Housing Dan Jørgensen.
“Now it is time to look ahead at our shared future based on a greener, sustainable and resilient system which will bring cheaper energy and more security to all,” he said.
Separately, in an interview with Kathimerini, Jørgensen noted that Southeastern Europe experienced electricity price spikes last summer, mainly in the evening hours, due to a lack of cross-border capacity and sufficient flexibility. The only solution is further infrastructure and market integration, as costs are separated and benefits are multiplied, he opined.
For every EUR 2 billion invested annually in cross-border infrastructure, the potential benefits reach up to EUR 5 billion, the commissioner added.
Papastavrou: Southeastern Europe’s is at disadvantage as its electricity market is not fully integrated with EU
Southeastern Europe is still not fully integrated with the EU, which is a structural disadvantage for citizens, said Minister of Environment and Energy of Greece Stavros Papastavrou.
“I am very optimistic after the first session of the meeting, because all the contracting parties expressed commitment, a strong commitment, to market coupling,” he stated. Papastavrou said a lot of work is required in the electricity sphere to bridge the gap for the prosperity of citizens and the entire region.
Energy integration is one of the pillars of EU accession
Energy integration is not just a technical issue – it is one of the fundamental pillars of the EU accession process, the minister told his counterparts from the Energy Community.
“Greece, too, has faced the same challenges that many of you are experiencing today. Back in 2005, our energy system was almost entirely dependent on lignite, by more than 60%. Today, we have reduced lignite use by an impressive 91% – a clear demonstration of our strong commitment to a clean, sustainable, and resilient energy future,” he stated.
Serbia’s Đedović Handanović sees possibility for market coupling with Hungary already next year
Serbia was the first in the region to fulfill the conditions for market coupling with the EU, the country’s Minister of Mining and Energy Dubravka Đedović Handanović said. She urged for the verification process to be accelerated, so that Serbia can connect with the Hungarian market in 2026 and, through it, with the other EU member states.
The minister acknowledged the challenge of the upcoming full implementation of CBAM.
Photo: Minister Dubravka Đedović Handanović (Nenad Kostić / Ministry of Mining and Energy)
Serbian institutions analyzed the available options from the study that the European Commission published. “We think that carbon pricing should be introduced gradually, in phases and fairly, with support from funds from the European Union,” she said.
The minister stressed that revenues from carbon taxes would be directed, like in the EU, to decarbonization, renewables, energy efficiency, just transition and support to companies.
“Without an adequate period of time for the transition from coal to renewable energy sources, without modernizing the network, increasing RES capacities and adjusting the industry, higher carbon costs can only increase the financial pressure on our industry and consumers, which is already happening in the EU, instead of resulting in a significant emissions reduction in the short term. Solving these issues requires careful planning, a phasein and the EU’s targeted financial support, so that climate goals would be aligned with the economic reality,” Đedović Handanović said.
She recalled that EU member states had more than two decades to gradually adjust to carbon emission levies. Đedović Handanović affirmed that Serbia is willing to continue its alignment with the EU’s energy and climate policy.
“All the reform measures that we are conducting are primarily for the benefit of our citizens and companies, and we won’t make decisions overnight that would jeopardize our energy stability,” she said.
