Conditions in the Greek market have worsened in recent months for renewable energy producers, especially in the solar power segment, as a result of low and negative electricity prices.
So far in September, the total number of hours with a negative price in the day-ahead market (DAM) has reached 27. Prices usually fall slightly below zero, between EUR 0.01 per MWh and EUR 1, but for Sunday, September 21, they reached a negative EUR 14.8 per MWh.
In Greece, over 7 GW of renewable electricity plants with individual capacities above 400 kW operate under contracts for difference (CfDs).
Negative prices hurt producers. They receive no payment if the price is zero or below for two or more consecutive hours.
Low positive prices harm market operator
There is another issue, caused by a great number of barely positive prices during the day, when solar farms reach their maximum output. The so-called special purchase price for photovoltaics, determined once a month, has fallen steeply. In August it reached a record low of EUR 25 per MWh.
Namely, the Operator of Renewable Energy Sources & Guarantees of Origin (DAPEEP) pays a producer the difference between the special purchase price and the price in the CfD contract, which is much higher.
Therefore DAPEEP benefits from negative hourly prices, since it avoids some payments, but it loses much more from low positive prices.
Special renewables account swings back into red
The operator’s special renewables account reached a breakeven level at the beginning of this year, but turned steeply negative in recent months. The latest official data show a deficit of EUR 160 million for the period through July. Initially, a gap of EUR 173 million was projected for the end of 2025, so investors are worried.
Payments to producers remain unaffected so far and they continue in a timely fashion. Regardless, conditions in the market have made investments in solar energy less profitable. Certain players have chosen to abandon their projects. EDP Renewables and ABO Energy have decided to leave Greece altogether.
The trend has fueled demand for the purchase of solar farms benefiting from feed-in tariffs, as they are not affected by fluctuations in the wholesale market. According to information that Energypress obtained, such facilities are currently sold for around EUR 700,000 per MW.
Seven projects for 1.88 GW of total electrolyzer capacity turned out to be unfeasible even with grants won at the second European Hydrogen Bank auction, out of 2.34 GW overall. The developers withdrew, with some citing policy and infrastructure delays and uncertainty. A project from the first renewable hydrogen auction also pulled out.
The European Commission has invited ten projects from the reserve list of the second European Hydrogen Bank auction to start preparing documentation for signing grant agreements, after seven that were initially selected withdrew. The round, completed in May, resulted in 15 projects for renewable hydrogen winning support, for 2.34 GW of total electrolyzer capacity.
Five endeavors remained in the general category, for just 453.46 MW overall, and the remaining three are in the maritime segment. They account for 108.5 MW. The ten reserve projects envisage 774 MW, compared to the 1.88 GW that dropped out, including the three biggest proposed systems.
Stuck at completion guarantees
Some developers of the withdrawn proposals weren’t able to provide completion guarantees. Completion guarantees are worth 8% of the grant, S&P Global noted in a report. Companies cited policy and infrastructure delays and uncertainty.
Four sites are in Spain, two in Germany and the seventh one is in the Netherlands: the Zeevonk electrolyser, the largest of all. It would have 560 MW and produce 411,000 tons over ten years, receiving EUR 0.6 per kilogram.
Beneficiaries receive premiums from the European Hydrogen Bank budget that compensate for the difference between the production price and the amount that buyers offer.
European Hydrogen Bank mechanism designed to weed out unfeasible investments
Before the end of the year, the European Commission expects to publish the final list for the said IF24 auction. One project recently dropped out from the first round as well.
“The auction’s completion guarantee is working as expected in weeding out companies that have bid too low, or were forced to reassess their project maturity or financial viability between bidding and having to provide the completion guarantee,” EU Innovation Fund Policy Officer Johanna Schiele said.
The withdrawn projects could still head for implementation if they complete the financing structure.
Under the second round within the European Hydrogen Bank mechanism, EUR 1.2 billion was available, but only EUR 992 million rewarded.
Slovenia’s transmission system operator ELES and the Ministry of Defence have signed a cooperation agreement for the Defence Resilience Hub Network in Europe – RESHUB project.
Last year, the Ministry of Defence of Slovenia initiated the Defence Resilience Hub Network in Europe (RESHUB) project, which aims to establish self-sufficient energy hubs in Slovenian military barracks.
As part of the initiative, the military barracks in Kranj will be transformed into a demonstration center for energy self-sufficiency, integrating military infrastructure with innovative solutions in renewable energy and hydrogen technologies.
Aleksander Mervar, CEO of ELES, and Marko Lovše, State Secretary of the Ministry of Defence, now signed the agreement, during the Slovenia-Japan Business Conference.
The deal outlines cooperation in the field of energy self-sufficiency and the development of hydrogen technologies, according to state-owned ELES.
The Kranj military barracks will be converted into a demonstration center for energy self-sufficiency
The project will turn the Kranj military barracks into a demonstration center for energy self-sufficiency by integrating military infrastructure with innovative technology for renewables and hydrogen.
ELES will contribute to the development of the RESHUB (Resilience Hub) pilot project concept, which focuses on the production, storage, and use of hydrogen, the country’s TSO noted.
The company will be involved in all phases of the project — from preparing expert studies and technical groundwork to providing professional support for documentation development.
ELES considers hydrogen a potential key energy carrier for storing surplus energy from low-carbon sources
“At ELES, we recognize hydrogen as a potentially key energy carrier for storing surplus energy from low-carbon sources, which can later be reused in the energy sector, transport, and industry,” according to the company.
ELES recalled that in 2024 it established a consortium to build a hydrogen ecosystem based on low-carbon sources.
Collaboration with Japanese partners, who have been actively developing and, in some cases, successfully deploying hydrogen technologies for decades, is essential for the company. ELES has already established several partnerships with Japanese companies and is now exploring new opportunities for deeper cooperation in the further development and application of hydrogen technologies.
In recognition of Mervar’s outstanding contribution to strengthening bilateral economic and technological ties, Japanese Ambassador to Slovenia Akiko Yoshida awarded him an honorary recognition at the business conference.
A roundtable titled Green Solutions in Practice, held in the eastern Serbian town of Knjaževac, brought together local government officials, experts, rural tourism providers, entrepreneurs, and citizens to exchange experiences on renewable energy sources and energy efficiency.
The event was organized by the Regional Development Agency of Eastern Serbia (RARIS) as part of the Promotion of Renewable Energy Sources and Energy Efficiency in Eastern Serbia project, implemented by German Cooperation in Serbia GIZ. The gathering demonstrated that eastern Serbia is becoming an increasingly active player in implementing green solutions and strengthening energy sustainability.
The roundtable Green Solutions in Practice was opened by Saša Petrović, Deputy Mayor of Knjaževac, who highlighted the importance of the green transition for promoting rural development and improving the quality of life.
Daniela Kostadinova, a representative of GIZ, presented the organization’s contribution to achieving energy sustainability in Serbia. She said that the project’s results so far have been highly significant, but added that she believes further development and awareness-raising are still necessary.
Photo: RARIS
Kostadinova also stressed the importance of financial support for citizens to implement energy efficiency measures, and she pointed out that energy poverty should be the next priority to address. She expressed hope that some ideas would be realized by the end of the Promotion of Renewable Energy Sources and Energy Efficiency in Serbia project, which runs until December.
Expressing her satisfaction at the opportunity to visit partner municipalities, Kostadinova noted that GIZ strives to provide both advice and support to its partners in the implementation of projects. She added that long-term success is extremely important to GIZ, which seeks to maintain its reputation as a high-quality and reliable partner.
Empowering eastern Serbia through renewable energy
Vladan Jeremić, Director of RARIS, presented the results of the Promotion of Renewable Energy Sources and Energy Efficiency in Eastern Serbia project. Four key results have been achieved: establishing a regional platform for renewable energy and energy efficiency in Eastern Serbia as a mechanism for aligning the positions, interests, and policies of key local and regional stakeholders; strengthening regional capacities; opening the Energy Advisory Center; and raising public awareness about the importance of renewable energy sources and energy efficiency.
Jeremić: People are eager to learn about renewable energy sources and energy efficiency
As a result of the regional platform’s work, the first renewable energy and energy efficiency fair was held in Zaječar. Numerous workshops and training sessions have been organized, and a guide on applying renewable energy and energy efficiency in rural tourism has been produced.
According to Jeremić, the project has shown that people are eager to acquire the knowledge they need to improve their lives in practice, making them more cost-effective, affordable, and sustainable, while also contributing to the energy transition.
“At the initiative of citizens, although it wasn’t planned within the project, we organized the fair. Even though we didn’t have an appropriate exhibition space, and despite the demanding nature of such events, we worked with great enthusiasm. The fair brought together technicians, engineers, and representatives of local governments and the private sector, many of whom are here today, which we see as a strong indicator of our success,” he said.
Managing energy efficiently in rural tourism
As part of the project, an interesting guide has been prepared for owners of rural tourism households, offering practical tips for improving energy efficiency, reducing costs, and introducing sustainable solutions into their business.
Ivan Svetozarević, the author of the guide and owner of a rural tourism household called Gorski konak in the village of Zubetinac, presented the guide through an engaging presentation filled with personal examples. The presentation addressed the question of how to manage energy efficiently in rural tourism. Situated on the slopes of Stara Planina, Gorski konak stands out as a model of sustainability.
Photo: Ivan Svetozarević / RARIS
The Svetozarević family equipped the household with solar panels, solar collectors for water heating, and a heat pump. Guests can use electric bicycles to reduce car use and emissions. Cooperation with neighbors and local producers further enhances the sustainability of the entire complex.
“My wife and I have been in this for over 20 years, but only a few years ago did we have the opportunity to install solar panels and a heat pump. Sustainability is actually our way of life,” said Svetozarević.
Multidisciplinary approach as a key to communication
Maja Lalić, Creative Director of the Mikser Festival, emphasized the importance of communication in promoting sustainable practices and raising public awareness about renewable energy sources and energy efficiency.
“The Mikser Festival is a partner of GIZ in popularizing these topics, seeking to involve the culture and creative industries sector, which has so far been rarely represented in discussions on renewable energy and energy efficiency. As a multidisciplinary platform, Mikser brings together numerous actors from different fields and engages in citizen education to bring these important topics closer to a wider audience,” she said.
For years, the organization has been staging events in revitalized abandoned industrial facilities as part of circular economy measures, applying various sustainable practices, such as issuing e-tickets, using reusable cups, and avoiding PVC branding.
Photo: RARIS
In cooperation with GIZ, this year’s edition of the festival developed an interactive educational program to increase energy literacy among three target groups: architecture and design professionals, young people, and the general population. The program included a panel discussion titled New Citizen Energy, where experts and prosumers dispelled myths about energy, shared experiences, and presented local challenges and solutions.
A special focus was placed on youth and children through workshops, empowering them to become agents of community change and develop creative ways to raise energy awareness and sustainable habits.
Mikser as a communicator and a dissemination platform
Maja Lalić highlighted the importance of decentralization, noting that successful initiatives from different parts of Serbia are encouraging, though they often remain less known to the wider public.
“Mikser positions itself as a communicator and a platform for disseminating success stories, giving people and communities space to share their experiences and inspire others. It is precisely this openness that makes the festival a dynamic place of meeting and exchange, supporting the further development of sustainability,” she said.
Examples of good practice
The application of renewable energy sources and energy efficiency measures goes far beyond installing solar panels or replacing windows, as demonstrated by various innovative examples of good practice.
Ilija Stevanović from the Mihajlo Pupin Institute presented innovative solutions developed in cooperation with farmers, schools, and festivals. As a special example, he cited the “digitalized field” implemented in collaboration with farmer Nikola Lončar from Belegiš and the smart device Mobisan – a mobile solar power generator.
Mobisan combines soil sensors, a weather station, and wireless communication to collect data on microclimate and soil conditions, enabling automated irrigation and fertilization. The device is controlled remotely and powered by solar panels, saving resources and reducing the use of chemicals.
Ognjen Tomašević from the Exit Foundation presented the “Green Exit” initiative and plans to improve the energy efficiency of one of the region’s largest events.
Innovative solutions are contributing to the festival’s energy efficiency
In addition to recycling, which has been a focus of the Exit Festival’s activities for five years, a “solar guitar” and gramophone-shaped solar collectors have been developed in cooperation with the Mihajlo Pupin Institute. These two devices provide electricity and hot water to Exit camp users, aiming to improve its energy efficiency.
Photo: Solar guitar / Mihajlo Pupin Institute
Aleksandar Branković, the owner of one of the first home solar power plants in eastern Serbia, presented his 6.7-kilowatt system installed back in 2013, making it one of the first in Serbia.
Vladan Dragićević, energy manager at the Municipality of Knjaževac, presented the achievements of the Energy Advisory Center. “The Energy Advisory Center is not just a place – it is a network of trust, a space where knowledge turns into savings and the energy transition into an opportunity for all,” he emphasized.
More than 70 citizens have received support at the Energy Advisory Center
The center provides relevant information and advice enabling citizens and businesses to use energy more efficiently, reduce costs, and even generate additional income. To date, more than 70 citizens have received advisory support.
The center is open for both individual consultations and group discussions on various topics, and it offers all necessary advice related to energy efficiency.
Prime Batteries Technology started the works on multiplying the capacity of its battery storage factory in Bucharest, despite the deteriorating prospects for its industry segment in Romania. Czechia-based Tesla Group has given up on a manufacturing facility project worth almost EUR 100 million, even with state aid approved. The government’s renegotiation of a funding package with the European Union resulted in erasing EUR 150 million in grants.
Prime Batteries Technology or PBT got a major investor on board and launched the works on the expansion of its factory in Romania. Earlier this month, the company obtained the building permit for boosting the capacity in Bucharest to 8.5 GWh per year from the current 2.5 GWh, Chief Executive Officer Vicențiu Ciobanu revealed at a conference organized by Energynomics.
Prime Batteries expects to grow its operational portfolio to 226 MWh this month. The facilities are within existing renewable electricity plants – mainly photovoltaics. The company expects to deliver another 152 MWh in the same segment and another 227.8 MWh in standalone battery energy storage systems (BESS) before the end of 2025.
The rest of the 800 MWh target for this year is due by the end of March. PBT also manufactures batteries for electric vehicles, industrial production and electricity grids.
Private equity firm T2Y steps in, confident in manufacturing investment bet
Prime Batteries has just welcomed private equity firm T2Y on board. According to the announcement, their goal is to surpass 8 GWh in annual capacity by 2030. T2Y became the second-largest shareholder, while Prime Batteries Technology’s Founder Adrian Polec controls the largest stake, Handelsblatt reported.
The company has a supply chain independent of China, T2Y’s Founder Patrick Bettscheider pointed out. He noted that PBT’s machines are Korean while the suppliers are Japanese, Korean and European.
The battery manufacturer has also agreed a partnership with Monsson for the development of projects for 1.07 GWh of storage capacity in Romania and Europe. In addition, Prime Batteries introduced a battery-as-a-service (BaaS) offer for the commercial and industrial segment.
Tesla Group backs out with major loss as EU fails to address Chinese subsidies
Launching the construction of another factory occurred at a hard time for investors in battery manufacturing in the country, but also Europe.
Tesla Group from the Czech Republic recently canceled a project in Romania estimated at almost EUR 100 million, including EUR 39.4 million in state aid. The company acknowledged that it already spent EUR 10 million before the pullout: on land in Brăila for the planned factory, technology, procurement and tenders.
Among other headwinds, Tesla Group cited the significant decline BESS equipment prices and the bankruptcy of major players
Namely, the situation worsened in June 2024 as global competition intensified, Tesla Group stressed, as quoted by Profit.ro. It cited “heavily subsidized Chinese manufacturers” together with “the lack of effective trade protection policies at the EU level,” the significant decline in prices of BESS and the bankruptcy of major players such as Northvolt in Sweden.
The Czech firm said it has become “impossible to sustain or expand battery production operations in Europe.”
Lyten, headquartered in the United States, agreed in July to take over Northvolt.
Romania folds plan to make BESS manufacturing its strategic sector
On top of it all, Romania has lost EUR 150 million in EU grants for battery production, assembly and recycling, according to a document from the Ministry of Energy that the same media outlet saw. The sum was from the National Recovery and Resilience Plan (NRRP or, in Romanian, PNRR), which the government is renegotiating with the administration in Brussels.
Two beneficiaries have requested that their funding contracts be canceled. The ministry will scrap another three, the article reads.
Notably, several contracts for hydrogen production and manufacturing facilities for solar panels have been suspended. Financial support for two cogeneration plants was reduced. Greece, Bulgaria and Romania have been breaching deadlines for reforms and procedures for EU subsidies for batteries, but also other investments essential for the energy transition.
YESS Power said that in November it plans to commission a 60 MW battery energy storage system (BESS) in North Macedonia. The Turkey-based contractor is installing the facility for Mey Energy at the site of the client’s solar power plant in Novaci. It would be the first large BESS and hybrid power plant in the region.
While the Western Balkans still doesn’t host any utility-scale BESS, giant leaps forward are seen in North Macedonia. Fortis Energy intends to expand its Oslomej solar power plant with one such facility, while Zen Energy Group has started the installation of a hybrid energy plant of the same kind. In addition, Turkey-based engineering, procurement, installation, and commissioning contractor YESS Power is spearheading the project for the addition of a BESS to the Novaci photovoltaic plant.
When Mey Energy put the 55 MW solar park into operation two years ago, it was the biggest in the said region. Now YESS Power, in cooperation with battery manufacturer Cubenergy from China, is installing a BESS of 60 MW at the site for the client.
With the commissioning date scheduled for November, it is about to become the first large battery energy storage facility in North Macedonia and the Western Balkans.
Novaci was the biggest PV park in the region when it was built in 2023
YESS Power, Topkapı Endüstri’s new brand, is responsible for engineering, installation, technical services and maintenance of the battery segment of the future hybrid power plant.
Mey Energy’s Novaci solar power plant spans 57 hectares. It generates 85 GWh per year, equivalent to the electricity demands of 30,000 households in the country. Notably, the PV system is next to the open pit coal mines of the REK Bitola energy complex, which includes a thermal power plant.
YESS Power said it specializes in scalable, secure, turnkey energy storage solutions for solar plants, industrial facilities, grid support and microgrids. It revealed that the current project marks the beginning of a “a broader strategic partnership in the Turkish and Eastern European markets” with Cubenergy.
In the wider Southeastern European region, Romania, Bulgaria and Turkey are massively adding BESS capacity. The remaining countries remain slow with administrative changes, planning and investment.
