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July 8, 2025
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Montenegro’s EPCG to take out EUR 50 million loan

Montenegro’s power utility Elektroprivreda Crne Gore will take out a loan of EUR 50 million to purchase electricity to supply consumers in the country.

The Government of Montenegro, upon the proposal of the Ministry of Finance, has issued an approval for Elektroprivreda Crne Gore (EPCG) to borrow EUR 50 million from Erste Bank to finance the purchase of the lacking quantities of electricity.

The loan is necessary to ensure the continuity of electricity supply while the Pljevlja thermal power plant is offline due to the ongoing ecological reconstruction project, the government said.

The investment aims to bring the power plant’s operation in line with EU emission standards

The works at Montenegro’s only coal-fired facility began in April 2022, and it has been offline since the end of March this year. The plant, which accounts for 40% of domestic electricity production, is scheduled to return to operations after seven and a half months. The investment is intended to reduce its emissions to align them with the European Union’s standards.

EPCG previously announced that it had already purchased about 75% of the electricity it required – 600 GWh, for which it paid around EUR 60 million. The remaining quantities needed for the third quarter, approximately 200 GWh, are planned to be purchased during the second quarter, the company said.

The company’s request was supported by the Ministry of Finance

According to the government’s new decision, the Ministry of Finance supported EPCG’s request.

It noted that EPCG achieved a net profit of EUR 10.2 million in 2024, which is 80.51%, or EUR 42.2 million, lower than in 2023, when it amounted to EUR 52.5 million. The projected profit for 2024 was EUR 3.4 million, the ministry recalled.

Of note, the company recently said it planned to take out a EUR 25.6 million loan from the European Bank for Reconstruction and Development (EBRD) to finance the second phase of the Gvozd wind farm project.

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July 8, 2025
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Bulgaria’s TPP Maritsa East 2 coal plant posts EUR 52 million loss for 2024

Even with a quota for the regulated electricity market in Bulgaria, low electricity prices pushed TPP Maritsa East 2 into a loss last year. It is the only state-owned coal power plant.

The financial report for 2024 showed a loss of EUR 52 million for TPP Maritsa East 2 (Maritsa-iztok 2), Kapital reported. It compares to a modest net income of EUR 29 million achieved one year earlier. Notably, the subsidiary of state-owned Bulgarian Energy Holding (BEH) had a record profit of some EUR 600 million in 2022, during the energy crisis.

Operating income plunged almost 15% to EUR 614 million last year. The only government-controlled coal power plant sold more electricity than in 2023, but at lower prices.

Moreover, liabilities surged to EUR 358 million from EUR 127 million, mainly due to greenhouse gas emission certificates. The gap between liabilities and assets reached EUR 1.18 billion, against EUR 920 million one year before, the report reads.

Regulated market keeps Maritsa East 2 afloat

Interestingly, almost 86% of the output was sold on the regulated electricity market, which covers households. For the past few years, TPP Maritsa East 2 has been operating under a quota determined by the Ministry of Energy, even though it doesn’t have the right, in principle, to work for the regulated market, the article notes.

Even with the market liberalization that was introduced on July 1, the facility keeps supplying households, the news outlet added. It was enabled through a new segment at the electricity exchange, for long-term contracts, with so-called non-standard products. They are intended for all sellers, but in practice the sellers are state-owned power plants: Kozloduy Nuclear Power Plant, TPP Maritsa East 2 and National Electricity Co.’s hydroelectric facilities.

It means the coal plant’s high production costs are passed on to household bills. It has 1.62 GW in nominal capacity, but it is utilizing much less. The enterprise sold 605 GWh in the open market and 3.23 TWh in the regulated market in 2024.

Coal plants failing to maintain competitiveness throughout EU

Slovakia and Spain officially intend to exit coal this year, followed by Greece (2026), France and Hungary (2027) and Denmark and Italy (2028). However, the dates could be pushed forward and there is a possibility that more countries will join the group in the meantime.

Several of the remaining facilities in the European Union and beyond are active just sporadically – in islands or to cover winter peaks or only until the district heating systems that they supply switch to cleaner sources.

Coal power is already uncompetitive most of the time, particularly because of emission costs. In addition, when such facilities are idle, their costs rise further because of salaries and the complex logistics, primarily mining operations. Other coal plants in Bulgaria are also affected.

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July 8, 2025
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Heatwave strains European grid, brings profit to energy storage operators

Record solar power production, backed by yet insufficient energy storage capacity, helped maintain the stability of the electricity system in Europe during the latest heatwave, Ember said. Many nuclear and other thermal power plants reduced their activity as river water temperature wasn’t low enough for efficient cooling. Intraday price spreads at European power exchanges landed a windfall for owners of battery energy storage systems and pumped storage hydropower plants.

The heatwave since late June has caused stress for European power systems, driving electricity demand and doubling daily power prices. Yet grids remained stable, fueled by record volumes of solar, think tank Ember pointed out in a report.

Outside temperatures jumped to more than 40 degrees Celsius, triggering an increase in electricity demand as the use of air conditioners soared. Outages in nuclear and thermal power plants exacerbated the challenges.

Daily electricity demand on July 1 was by up to 6% higher in Germany, 9% in France and 14% in Spain than on June 24. As for peak demand, it jumped by 12% in France, 15% in Spain, and 5% in Germany and Poland.

A bigger electricity price spread within one day means higher income for operators of battery energy storage systems

The average daily price surged 15% in Spain, 106% in Poland, 108% in France and 175% in Germany.

“Despite the huge pressure, European grids passed the stress test, and solar electricity played a major role in keeping them running. The surplus of solar energy during the day helped prevent blackouts. However, the use of energy storage is still insufficient, leading to reduced energy supply after sunset. This translated into a sharp increase in electricity prices,” said Ember’s Europe Programme Director Paweł Czyżak.

Record EU solar generation helps keep power supply stable

June saw the highest solar generation on record in the European Union – 45 TWh, which kept the grid well-supplied during daytime hours. The result was 22% up from one year before.

“Heatwaves will not go away – they will only get more severe in the future. Solutions that can help mitigate their impacts, such as battery storage, interconnection, demand flexibility and dynamic tariffs, should become a key part of grid planning and power market design,” Czyżak added. The biggest opportunity is to store solar electricity, to help power air conditioning well into the evening, he stressed.

Outages limited but still posing concern

The overheating of cables is the likely cause of power outages in Italy on July 1. With rising air and water temperatures, the cooling of thermal power plants becomes more challenging as well. It led to forced reductions in electricity generation from nuclear power plants in France and Switzerland.

The French nuclear fleet has been impacted the most, with all but one of the 18 facilities experiencing some type of capacity reduction. According to the update, up to 15% of the capacity may have been impacted.

A blackout of several hours struck large parts of the Czech Republic including Prague on July 4. However, the authorities only blamed it on a transmission cable in the country’s northwest falling, and the resulting domino effect. Notably, the air temperature was much lower than in previous days.

Sun brings power alongside heat

In the peak days of the heatwave in Germany, solar delivered 50 GW and even more, generating 33% to 39% of Germany’s electricity. The country hosts 14 GW of battery energy storage systems (BESS) and 10 GW of pumped storage, which partly bridged the gap between the peaks of production and consumption.

The rallies in electricity prices in the evenings are getting passed on to consumers, so using air conditioners gets more expensive upon sunset. It is a business case for clean flexibility solutions. Due to a high supply of solar electricity during the day, and a cooling-related demand peak in the late afternoon hours, the daily electricity price spreads skyrocketed.

The spread in Poland in the day-ahead segment almost reached EUR 500 per MWh on July 1. Namely, the daily low was EUR 21.04 per MWh below zero, and the peak amounted to EUR 471 per MWh. In Germany, the benchmark went from EUR 0.16 per MWh in negative territory to EUR 404.91 per MWh.

Storage assets charge at low prices and discharge during peak time, reducing the need for costly imported fossil fuels in the evening, and supporting the balancing of the grid, the analysts underscored.

Interconnection played a role as well. The heatwave peaked in different countries on different days, so interconnectors moved electricity to where it was needed most, dissipating the price peaks in the process.

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July 8, 2025
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Montenegro determines quota, maximum price for solar power auction

At the forthcoming auction for market premiums for electricity from solar power plants in Montenegro, the participants will bid for state support for 250 MW in total capacity. The maximum price to compete for is EUR 65 per MWh and the contracts will last 12 years.

The Government of Montenegro adopted the decisions and directives necessary for issuing a public call to auction for solar power projects of at least 400 kW. The lowest bids will win, and the maximum price is EUR 65 per MWh. Market premiums will be awarded, via 12-year contracts for difference (CfDs).

Conducting renewable electricity auctions is one of the commitments toward the European Union that were defined by the Reform Agenda of Montenegro 2024-2027. It contains the conditions for the approval of up to EUR 383 million from the Growth Plan for the Western Balkans and the Reform and Growth Facility (RGF).

The sum consists of EUR 110 million in grants via the Western Balkans Investment Framework and highly concessional loans, as the EU calls them. WBIF would provide EUR 95 million and the remainder is for the state treasury.

The commission responsible for the auction will extend the quota by up to 50 MW if it fits in one or more eligible projects in their entirety

The country plans solar and wind power auctions for 400 MW in total capacity. The quota for the first auction for the rights to market premiums, only for photovoltaic projects, is 250 MW.

However, the quota can be extended, by a maximum of 20%. The government said the extra 50 MW is available for the inclusion of an entire eligible project that entered the quota only partially, or more such projects, in case the bids for them were equal. But if the part of the capacity outside of the quota is larger than the possible extension, the commission would award a market premium only for the part that did fit the quota.

Conversely, in case a share of the quota isn’t awarded, it can be switched to the next auction.

Under a CfD, the operator of a renewable electricity plant has a guaranteed price, approved through the auction. When the firm sells electricity in the market at a higher price, it must return the difference. And vice versa: when the beneficiary gets less per megawatt-hour than the contract price, they are reimbursed.

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July 7, 2025
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Open call for green hydrogen high-efficiency CHP pilot plant in northern Greece

Greece’s Alternate Minister of Economy and Finance Nikos Papathanasis has launched an open call for the installation and operation of a high-efficiency combined heat and power (CHP) unit using fuel cells powered by green hydrogen. The site for the pilot project is in the Western Macedonia coal region in the country’s north. It is part of the government’s Just Development Transition Programme 2021–2027.

Western Macedonia is Greece’s main coal region, and the other one is Megalopolis in the Peloponnese. The country is transforming the economies of the two areas toward clean and smart technologies, largely with funding from the European Union and aiming at a just transition.

The open call signed by Alternate Minister Nikos Papathanasis for the installation and operation of a pilot unit for high-efficiency combined heat and power (CHP) facility, running on fuel cells, has a total budget of EUR 7.87 million. The facility would utilize green hydrogen produced in electrolyzers powered by renewable electricity.

The energy would be used to provide 24/7 power and heat to the Bodosakeio General Hospital of Ptolemaida, the Chemical Process & Energy Resources Institute (CPERI) in the same city and the Daycare Center for People with Disabilities in the municipality of Eordaia.

The deadline for proposal submission is October 31

The deadline for the submission of proposals is October 31, with immediate evaluation of applications.

The project is for the construction of a pilot CHP unit and a photovoltaic park on municipal land in Eordaia.

According to the announcement from the Ministry of Economy and Finance, the flagship initiative aims to showcase and implement cutting-edge energy and environmental technologies, contributing to the region’s energy transition and decarbonization efforts.

In April, Public Power Corp. (PPC) announced a EUR 5.8 billion investment plan to support the transition of Western Macedonia. The endeavor consists of the decommissioning of old assets and the rollout of new energy technologies.

According to the decarbonization timeframe, Ptolemaida 5 will be the last coal plant in the country, continuing to operate until the end of 2026. It is set to be converted to a gas power plant with a capacity of 350 MW. PPC is also open to upgrading it to 500 MW or even 1 GW.

The plan also includes: 2.1 GW of solar PV capacity, with one 550 MW project nearing completion in a former lignite mine, 860 MW of energy storage, including pumped hydro and battery systems, and a 300 MW data center, planned to be scaled up to 1 GW.

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July 7, 2025
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Foreign renewable energy investors remain committed to Romania as large plants coming online

Renewable energy companies from abroad aren’t intimidated by negative power prices in Romania, especially with the battery storage segment accelerating. Energy giants EDP Renewables and Engie have new solar power plants, and more renewable energy facilities are coming online, while the government is disbursing European grants.

The renewable energy market in Greece is consolidating and a number of foreign investors are leaving, but some other countries in the region that Balkan Green Energy News tracks remain attractive, especially Romania and Turkey. Big names from abroad keep coming, and the established ones are commissioning facilities and committing to more projects.

Like elsewhere in Europe and beyond, the increasing occurrence of low, zero and negative power prices are impacting the sentiment in Romania. But funding from the European Union, the government’s administrative support, renewable energy auctions and bets on battery storage seemingly outweigh the current risks.

EDPR’s new photovoltaic park Albina will generate 67 GWh per year

EDP Renewables (EDPR), subsidiary of Portuguese energy giant EDP, recently inaugurated its Albina photovoltaic plant. Located in western Romania, just outside of the city of Timisoara, the renewable energy unit came online late last year.

Albina has 60 MW in peak capacity and a 48.8 MW grid connection. The company expects it to generate 67 GWh per year. EDP said that with the new plant it reinforces its commitment to Romania. It operates wind and solar power plants in the country of over 570 MW in combined capacity.

Engie praises renewable energy potential in Romania

Engie Romania commissioned the sixth photovoltaic park in its portfolio. It is located in the commune of Ariceștii Rahtivani in Prahova county. Together with the new facility, of 37.2 MW in peak capacity, French Engie’s branch in Romania now has 248 MW in renewable energy in operation.

The site covers ​​57 hectares. Estimated annual output is 57 GWh. The firm owns three wind farms of 178 MW in total while its six PV systems have 70.3 MW in overall peak capacity. Last year it built one of the first hybrid power plants in the country.

Engie Romania said the new plant strengthened its position and praised the country’s “significant potential” in the renewable energy segment. The firm targets 1 GW in the country by 2030. It also distributes natural gas and supplies both gas and electricity, and offers energy services.

Rezolv building one of largest wind power plants in Europe

The Vifor wind farm in Buzău county, northeast of Bucharest, is almost half done. Rezolv Energy plans to finish it in 2027. The first phase is for 192 MW, with a planned expansion to a colossal 461 MW.

The company purchased Vestas turbines for the wind park, which is set to become the largest in Europe and the second-largest in Romania. The developer won a fixed electricity price for 15 years in the form of a contract for difference at the country’s renewable energy auction. The wind power plant will also benefit from a power purchase agreement (PPA).

Wind farm of 99.2 MW Galaţi in to launch operations next year

OX2 is building the Green Breeze wind farm, delivering the project as a turnkey construction project for the investor, Nala Renewables. The project involves 16 Vestas V162-6.2 MW turbines, or 99.2 MW altogether. Annual production at the future wind power plant in Galaţi in the eastern part of the country is 312 GWh, according to the estimate.

The facility is on schedule for the start of operations in the first half of next year. Together with Green Breeze, OX2 is working on 620 MW in five wind power projects. The Swedish company has said it intends to grow and diversify in the country.

Enery from Austria lining up renewable electricity plants in Romania

Romania-based Enevo announced that it started building a solar park of 54.2 MW in peak capacity for Enery Development.

Also in Dâmbovița county, Enery Element, the joint venture of the Austrian company with Element Power Group, has a project for a battery-backed PV park.

Total investment is some EUR 27.5 million, of which EUR 2.4 million is from the EU’s Modernisation Fund. The solar power component is 74 MW and the battery energy storage system (BESS) would provide 10.2 MWh in capacity. The location, formally run by project firm Gura Solar Plant, is in the Gura Ocniței commune.

Ecoener, headquartered in Spain, is developing an agrivoltaic project of 11 MW

A Spanish group with an annual turnover of almost EUR 100 million wants to build the first agrisolar park in Iași county, in the commune of Țibănești. Solar panels of 11 MW in total peak capacity would be placed 1.5 meters above ground. The investor, Ecoener, established a Romanian subsidiary for the endeavor: Ecoener Țibănești.

Greece’s PPC turning its wind, PV facilities into hybrid power plants with battery storage

Greek state-controlled Public Power Corp. (PPC) is developing a BESS investment through its firm Sun Challenge, which operates the Lumina solar power project in Călugăreni, Giurgiu county. The PV facility of 63 MW in peak capacity has been online for two years now. Lumina is PPC Renewables’ largest solar power unit in Romania.

It is one in a string of the Greek company’s energy storage projects. PPC plans BESS at its wind farms Topolog (27 MWh), Corugea (80 MWh) and Sălbatica (60 MWh) in Tulcea county. It slated another 120 MWh in total storage capacity at wind power plants Nicolae Bălcescu and Târgușor in Constanța county.

PPC operates wind, photovoltaic and hydropower capacity in Romania of 1.3 GW overall

The Fântânele-Cogealac-Gradina wind farm, which PPC took over from Macquarie Asset Management, already includes a BESS facility. The 600 MW facility is the largest in Romania of its kind.

In Prahova, PPC Renewables Romania plans a 10 MWh storage system at the Berceni 1 photovoltaic park, with an installed capacity of 9.8 MW. Another storage system, of 8 MWh, would be integrated with the Colibași photovoltaic park (7 MW) in Giurgiu county.

PPC operates wind, photovoltaic and hydropower capacity in Romania of 1.3 GW overall.

Turkey-based YEO Technologies, Danish company Eurowind Energy and Solarpro, a contractor from neighboring Bulgaria, all have new investment updates, too.

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