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May 20, 2025
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Akuo Energy signs PPA with EPS for Bela Anta 2 wind project in Serbia

French renewable energy company Akuo Energy has signed a power purchase agreement (PPA) with Serbia’s state-owned power utility Elektroprivreda Srbije (EPS) for the Bela Anta 2 wind power project, for the full capacity and including the balancing responsibility.

The project is being developed through Matrix Power, a special purpose vehicle (SPV) fully owned by Akuo Energy. With a total installed capacity of 80 MW, Bela Anta 2 was among the awarded projects in Serbia’s second round of renewable energy auctions, held in early 2025. Akuo secured a contract for difference (CfD), positioning it with the largest wind projects contracted with EPS to date, under the new market-based support scheme.

Milestone for Serbia’s energy transition

The agreement marks a major step in Serbia’s ongoing shift toward renewable energy, Akuo Energy said. All electricity produced by Bela Anta 2 will be supplied to the domestic market, supporting energy security and sustainability, it added.

“Akuo Energy is honored to support Serbia’s renewable energy goals in partnership with EPS. This PPA reflects strong institutional support and our shared commitment to accelerating the country’s green transition,” said a company spokesperson. The CfD ensures price stability and investment certainty, creating long-term benefits for both investors and the Serbian power system, Akuo Energy pointed out.

Akuo Energy: Global expertise with regional depth

Akuo Energy is an independent global renewable (wind, solar and storage) energy producer and developer. The group is present across the entire value: development, financing, construction and operation.

All electricity produced by Bela Anta 2 will be supplied to the domestic market

As of the end of 2024, the company had a total capacity of 1.9 GW in operation or under construction and a total project portfolio of over 12 GW. With more than 450 employees, the group, headquartered in Paris, France, develops projects in more than twenty countries around the world.

With nearly two decades of experience, Akuo has delivered projects in onshore wind, photovoltaics, hydropower, biomass, and battery energy storage systems (BESS). In Central and Eastern Europe, it operates more than 324 MW, with a strong and established presence in the Western Balkans.

More projects to come in Serbia

Akuo Energy plans to further expand its presence in Serbia’s renewable energy sector. One of its most advanced upcoming projects is the Bašaid Wind Farm (85 MW) near Kikinda, which is fully permitted and ready for construction. The company is also exploring new solar power and hybrid opportunities across the country.

With the PPA for Bela Anta 2, Akuo strengthened its long-term commitment to Serbia’s energy transition and to supporting the growth of a reliable, sustainable power system in the region, the update reads.

Akuo was a silver sponsor of Belgrade Energy Forum (BEF 2025), held last week in Serbia’s capital city.

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May 19, 2025
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Regional webinar on gender-responsive energy transition and workforce empowerment

A regional webinar titled Gender-responsive Energy Transition and Workforce Empowerment in the Western Balkans will be held on May 22. The aim of the webinar, organized by GIZ, is to initiate a dialogue on the social and gender aspects of the transition from fossil fuels to renewable energy sources.

The energy transition in the Western Balkans is bringing significant changes. The shift to renewable energy leads to a restructuring of the labor market. More than 138,000 jobs are currently linked to coal-based industries, raising questions about the social impacts and the need for workforce reskilling.

Investing in skill development and workforce adaptation is essential to mitigating social challenges, particularly gender inequalities, during the energy transition process.

GIZ recently conducted the first comprehensive analysis of the impact of the energy transition on the labor market in the Western Balkans. The study outlines the expected job losses and gains, identifies the skills needed for future employment in the renewable energy sector, and highlights the crucial role of technical and vocational education in this process.

Everyone interested can register via a link

The the findings of the study will be presented at the webinar Gender-responsive Energy Transition and Workforce Empowerment in the Western Balkans, scheduled for May 22 from 14:00 to 15:30. The event will be held online via Microsoft Teams, and all interested participants can register via this link.

The discussion will feature Valentina Vučković, a socio-economic expert from the Institute for Development and International Relations (IRMO), who will present the research findings. Fiona Imami from the organization Co-Plan will speak about policy solutions for coal mine regions within the concept of a just transition, and Marta Schulte-Fischedick from the Energy Community Secretariat will address gender inequality issues and potential systemic solutions.

Special emphasis will be placed on the need for greater synergy between the education and energy sectors to ensure that the workforce can effectively adapt to new conditions. The discussion will also cover issues of gender equality, the inclusion of women in the green energy sector, and ways to reduce existing gender disparities in employment and career advancement in the field.

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May 19, 2025
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Wind farm project in Cyprus rejected to protect birds, habitats

The Department of Environment of Cyprus scrapped a proposal for a wind power plant partly within or near protected areas due to the expected impact, including on vulnerable bird species such as the Bonelli eagle and long-legged buzzard. The project was launched in 2008 and amended several times.

Stivo Trading and its wind farm project in Cyprus failed to renew a temporary planning approval. The developer initially proposed 33 turbines of 49.5 MW in total, the domestic press reported.

Since 2008, when the project was launched, it was amended several times. The final version, from 2023, is for just four wind turbines instead of the previous ten, and a capacity of 18 MW, down from 22.5 MW.

Irreversible impact on Natura 2000 zones

The sites are within and near the Panagia Stazousa River special protection area and as close as one kilometer from the Stavrovouni forest, designated a special area of conservation.

The locations belong to the local communities of Pyrga, Klavdia and Alethriko. The Department of Environment said it expects that the investment would directly, negatively and irreversibly impact the Natura 2000 zones. It includes vulnerable species, habitats and conservation objectives.

Environmental authority highlights risk to birds from collisions, electrocution

Sensitive species would be displaced and their populations reduced, the update reads. The environmental authority also highlighted the risk to birds from collisions and electrocution.

It pointed to a cumulative impact from supporting infrastructure and the existing projects. In the wider area there are four wind power plants, of which the one in the northeast is in the Panagia Stazousa River special protection area. West of Stivo Trading’s zone, the fifth one, is a nesting area.

The department highlighted the Bonelli eagle, long-legged buzzard, the European roller and thrush, among other birds. At least three Bonelli’s eagles died in collisions with energy infrastructure and another five by electrocution.

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May 19, 2025
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Serbia to invest EUR 60 million in renewables in district heating

Serbia plans to sign an agreement by the end of the year on introducing renewable sources in district heating plants, according to the Ministry of Mining and Energy.

Minister of Mining and Energy Dubravka Đedović Handanović met with Ambassador of Germany Anke Konrad and Director of Germany’s KfW Development Bank for Southeast Europe and Turkey Klaus Müller.

They discussed cooperation on ongoing projects in the energy sector and a plan for further investments in renewables and energy efficiency.

The minister highlighted the successful cooperation with KfW in the construction of biomass heating plants and the introduction of renewable energy in district heating systems. She recalled that four biomass heating plants have been installed.

In the coming years, new boilers will be installed in several heating plants

She noted that in the second phase of the project, in the coming years, heating plants in Prijepolje, Novi Pazar, Niš, Rača, Vranje and Majdanpek are envisaged to get new boilers.

By the end of the year, Serbia plans to sign an agreement on the introduction of renewables in district heating plants, namely solar technology and heat pumps, Đedović Hanadanović announced.

The investment is estimated at EUR 60 million, of which EUR 20 million would be a donation, thanks to the support of KfW, she added.

Serbia and Germany plan to strengthen cooperation

Đedović Handanović stressed the importance of the climate partnership with Germany and thanked for the support that the other country provides to Serbia in the modernization of the energy sector.

“We are grateful to the German government and the KfW Development Bank for their continuous support in different subsectors in energy, from district heating and energy efficiency to the development of new capacities from renewable energy sources,” she stated.

In line with its ambitions and reform goals in energy, Serbia intends to deepen cooperation with Germany through new projects.

Of note, the four heating plants were installed in Priboj, Mali Zvornik, Novi Pazar and Majdanpek. The agreement for the second phase of the project was signed in May last year.

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May 19, 2025
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Hidroelectrica picks contractor for PV systems on 20 hydropower plants

Romanian state-owned hydropower plant operator Hidroelectrica signed a deal with Servelect and subcontractor Electroplus, which need to install solar panels on the roofs of 20 hydroelectric plants. They are on the middle and downstream parts of the Olt river.

Combining hydropower with photovoltaics including floating solar power plants is becoming popular. The two sources are compatible, especially if there is a dam, as it can save water in reservoirs. The grid infrastructure for PV panels is already there and there are usually no land ownership issues. Hidroelectrica, which mostly operates hydropower plants, is about to solarize its existing facilities.

The Romanian state-owned company pursuing diversification signed an agreement with Servelect and its subcontractor Electroplus. There were four bids in the tender.

First solar power project for Hidroelectrica

Solar power systems will be on the roofs of 20 hydropower units on the middle and downstream sections of the Olt river. Hidroelectrica, listed at the Bucharest Stock Exchange since 2023, turnkey deal, said it aims to optimize production costs. However, it didn’t reveal whether it would operate the colocated assets jointly, as hybrid power plants.

Hidroelectrica is the largest electricity producer in the country, but it will be its first solar power units. The deal, for an overall 2.96 MW, is worth EUR 1.77 million excluding value-added tax. The deadline is 24 months, of which four months for the design.

Servelect, Electroplus responsible for all phases from procurement to commissioning

The utility also tasked the two firms, based in Cluj-Napoca, with manufacturing and procurement, transportation, testing and commissioning. The PV systems would consist of 620 W panels and 100 kW inverters. Hidroelectrica estimated the combined annual output at 3.71 GWh.

The company operates 188 hydropower plants, 6.4 GW overall, and the Crucea Nord wind park of 108 MW. Earlier, Hidroelectrica and Masdar were considering a pilot project, under an upcoming joint venture, for floating solar power plants on seven reservoirs, also on the Olt.

Servelect is active in engineering and energy services. It was founded in 2005. Electroplus, which handles electrical installations, operates since 2001.

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May 17, 2025
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Works beginning on North Macedonian side of gas interconnector with Greece

The North Macedonian section of the gas interconnector with Greece is expected to be completed by early 2027. The construction contract was signed by the Ministry of Energy, Mining and Mineral Resources, domestic contractor Rapid Build and the country’s gas transmission system operator Nomagas.

The construction of the gas pipeline connecting North Macedonia with Greece is set to begin in a month, according to officials. Land expropriation is 90% complete. The initial capacity of the interconnector would be 1.5 billion cubic meters per year, with a potential to double it. The works are expected to be completed within 22 months.

„With the signing of the contract for the construction of the Macedonian section of the gas interconnector with Greece, we are marking the beginning of the largest energy investment in North Macedonia in the last ten years. The interconnector is proof that when there is political will, regional trust, and professional dedication – the results are real and tangible,” said Minister of Energy, Mining and Mineral Resources Sanja Božinovska.

The contract was signed by the ministry, contractor Rapid bild, based in Kumanovo in North Macedonia, and the country’s gas transmission system operator Nomagas. The future pipeline would be able to carry both natural gas and hydrogen.

Repeated tender slashes price by EUR 12 million

The winning bid was EUR 59.9 million or EUR 12 million less than in the initial tender, which was annulled.

The project is worth over MKD 5.1 billion (EUR 82.9 million). It is financed by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). It includes grants of EUR 2.5 million for technical assistance and another EUR 9.9 million via the Western Balkans Investment Framework (WBIF).

The project is financed by the EIB and EBRD

„This contract ensures diversification and access to a greater number of natural gas sources, enables economic development, progress and environmental protection, and contributes to the security of energy supply,” said Executive Director of Nomagas Muhamet Elmazi.

Gasification would significantly improve air quality, especially in areas where wood and fuel oil are currently used for heating.

Greek section of interconnector under construction since February

On the North Macedonian side, the interconnector route is 68 kilometers long, out of a total of 123 kilometers. It will run from Nea Mesimvria in Greece through Evzoni (Mačukovo) and Gevgelija at the border, to Negotino. The next phase involves building gas links from Gostivar to Kičevo (34 kilometers) and from Sveti Nikole to Veles (28 kilometers).

Greek company Terna began constructing its country’s section of the pipeline in February.

Nomagas and Greece’s National Natural Gas System Operator (DESFA) made their final investment decision a year and a half ago.

The companies leaned the investment on the project for the Alexandroupolis LNG Terminal. The liquefied natural gas facility in northeastern Greece was opened on October 1. However, due to a malfunction, it has been out of operation for more than three months. According to the latest update, gradual reactivation is expected to begin by the end of May.

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