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May 21, 2025
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SANY Renewable Energy makes successful breakthrough in European market

SANY Renewable Energy, one of the world’s top five onshore wind turbine manufacturers, made its debut at Belgrade Energy Forum 2025 (BEF 2025) on May 14-15, showcasing its cutting-edge wind power technology and integrated solutions to the European market.

At BEF 2025, SANY attracted significant interest from various stakeholders thanks to the Alibunar 1 and Alibunar 2 wind farm projects, the company’s first investments in Serbia, which is one of the key markets for SANY in Europe.

SANY’s attendance at BEF 2025 not only demonstrates its competitiveness in the global clean energy industry but also lays a solid foundation for further expansion in the European market.

Innovative technology attracts attention as SANY gains broad interest from developers

As the most influential energy event in Serbia and the Balkans, BEF 2025 brought together government agencies, energy companies, and industry experts to discuss Europe’s energy transformation and sustainable development. At the event’s exhibition area, SANY focused on showcasing its large-megawatt smart wind turbines, smart wind farm management systems, and energy storage solutions. Its high power generation efficiency, low levelized cost of electricity (LCOE), and intelligent operation and maintenance drew the attention of numerous participants.

Serbian Minister of Mining and Energy Dubravka Đedović Handanović said during her visit to the SANY booth that the company’s wind power technology is impressive and highly consistent with Serbia’s renewable energy development goals.

“We look forward to working with such leading international companies to accelerate the country’s green energy transformation,” stated Đedović Handanović.

Deepening European presence and supporting carbon-neutrality goals

In recent years, SANY has continued to increase its development and growth in the European market. This high-profile appearance at BEF 2025 sends a clear signal of strengthening regional cooperation. During the forum, company representatives held multiple rounds of negotiations with energy companies and investment institutions in Serbia and neighboring countries to discuss planning and possible project and technical cooperation.

“Europe is a key market for the development of renewable energy. SANY Renewable Energy’s goal is to help customers achieve economic feasibility while increasing efficiency with its high-quality products and customized services,” said Paulo Soares, Managing Director of SANY Renewable Energy Europe.

“We are looking forward to working with all stakeholders in Serbia to jointly promote the global carbon neutrality concept,” he stressed.

Industry analysts believe that as the demand for renewable energy in Europe continues to grow, SANY is expected to capture a larger market share in Europe with its high-reliability wind turbines, intelligent operation and maintenance, and localization strategy, and become an important promoter of the global green energy transformation.

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May 21, 2025
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GGF’s Kostadinov: Western Balkans responded to energy crisis with innovation, ambition (video)

The past three to four years have been nothing short of transformational when it comes to the energy transition in the Western Balkans, said Borislav Kostadinov, Finance in Motion’s Fund Director for the Green for Growth Fund, in a keynote address at Belgrade Energy Forum. The region has responded to the energy crisis with innovation, ambition and resilience, he pointed out. The challenge in the energy transition is understood and so is the solution, Kostadinov stressed.

Borislav Kostadinov, a Fund Director at Finance in Motion, gave a keynote speech at Belgrade Energy Forum (BEF 2025). He leads the Green for Growth Fund, or GGF, the company’s flagship green finance fund.

Finance in Motion is an impact asset manager based in Frankfurt with over 20 years of experience and more than EUR 4 billion in assets under management (AUM). It specializes in blended finance vehicles that deliver positive social and environmental impact. GGF has delivered over EUR 500 million in green finance to almost 50,000 beneficiaries in the Balkans. As of the end of last year, it was above EUR 1 billion in size.

Renewables have become mainstream investments

The breadth and flexibility of the fund’s model allow it to support a wide spectrum of the energy transition, which has enabled it to expand to over 19 markets along the European Union’s borders, Kostadinov explained.

The past three to four years have been nothing short of transformational when it comes to the energy transition in the Western Balkans, he underscored.

“I would not be the first to say that we are at a key juncture in the energy transition. At this stage, the challenge is understood and so is the solution. Renewables have become mainstream investments, championed by the public and private sectors, and are the foundation of a future that is not only sustainable but cost-efficient, competitive, and secure. The question now becomes how quickly and how completely we can deliver on this vision over the next five, fifteen and 25 years,” Kostadinov stated. In terms of energy systems and climate change, it is not much time, he pointed out.

Western Balkans are broad-based renewables growth story

For several years now, there has been a broad-based renewables growth story across the region: from utility-scale project finance transactions, to large installations for captive use by industry and manufacturing, to photovoltaics on the roofs of households, Kostadinov recalled.

“What is driving this shift? Certainly, the energy crisis jolted all of Europe, and the Western Balkans have responded with innovation, ambition, and resilience. In a short time, we have improved policy, strengthened regulatory frameworks and prioritized the sector with clearer strategies and market mechanisms,” he said.

GGF’s director praised the countries in the region for embracing transparent, competitive auctions as a foundation for market-based deployment of renewables.

Kostadinov particularly highlighted Serbia for leading the way. “Its recent auctions for wind and solar have been consistent, well-communicated, credible and investor friendly, drawing broad investor participation. Most importantly, they’ve been successful, and we are proud to have contributed to this achievement alongside our longstanding partner UniCredit Bank, through its investment in the landmark Čibuk 2 wind farm,” he told the audience at BEF 2025.

Corporate PPAs, guarantees of origin deepen markets while also expanding them

The public sector must continue strengthening markets and frameworks and develop and roll out mechanisms such as corporate power purchase agreements (PPAs) and guarantees of origin, which deepen and expand markets, Kostadinov said.

“We need more purely private projects, such as the GGF-backed 50 MW Project Blue solar plant in Albania. As the largest non-subsidized solar project in the Western Balkans, and developed without a long-term PPA from the utility, it is the type of investment that we hope to increasingly catalyse in the region,” he asserted.

The three principles for the next five years are speed, integration, and resilience, Kostadinov says

In Kostadinov’s view, the three principles for the next five years are speed, integration, and resilience.

“We must continue to improve the speed, transparency and bureaucratic process when it comes to permitting, approving and bringing projects online. This is true in the EU, and it is true in the Western Balkans, in particular for construction permitting and grid connections,” he said.

The necessary investments in the integration of energy markets in the EU and the region will create scale, meaning larger markets, deeper spot markets, and more varied offtake, Kostadinov added. His message to energy producers in the Balkans is that they would be able to diversify and address a larger market by supplying Europe’s industrial base.

The recent blackout in Spain is a cautionary tale, but the story is not a failure of renewables but rather a failure of grid resilience, Kostadinov said.

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May 21, 2025
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Construction of largest solar power plant in Bosnia and Herzegovina begins

The construction of Bosnia and Herzegovina’s largest solar power plant has officially commenced. The location for the facility with a peak capacity of 125 MW is in the municipality of Stolac, near the village of Komanje Brdo. The project has caused discontent among some residents.

The investment is valued at EUR 100 million. According to the investor’s estimates, the power plant is expected to generate around 200 GWh of electricity annually over the next three decades.

The cornerstone was laid by Mayor of Stolac Stjepan Bošković, along with the representatives Aurora Solar, which developed the project, and Chinese company Norinco International, the contractor.

In recent years, the City of Stolac has actively promoted solar initiatives, with a particular focus on Komanje Brdo, according to the local authority’s website. It expects to collect between EUR 1.53 and EUR 2.05 million per year through the concession and utility fees.

 The project has faced public criticism

Despite its scale and potential, the project has faced criticism from a part of the public. Citizens gathered in an informal initiative called Za Komanje Brdo (For Komanje Brdo) have repeatedly raised concerns about a lack of transparency, the absence of public consultation, and alleged non-compliance with environmental protection laws. They claim the permitting process wasn’t transparent and that the local community was not adequately involved in decisions that directly affect its environment and quality of life.

“We are not against renewable energy sources, but we are against arbitrariness, the disregard for the law, and the neglect of residents’ interests. This project was launched against the will of the people,” residents said at a protest held on the same day that construction began, local media outlet Glas Stoca reported.

On the other hand, the investors claim the project is of strategic importance, promising new jobs and long-term benefits for the local community. They also maintain that all necessary permits were obtained in accordance with the law.

Despite public opposition and official complaints submitted to relevant institutions, construction works began on April 28. The plant is expected to be completed within a year and is set to become the largest photovoltaic park in Bosnia and Herzegovina. Currently, the largest solar power plant in the country is Hodovo, operated by Eco-Wat.

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May 21, 2025
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Wind farms turn Greece into net exporter of electricity

Wind energy played a crucial role in turning Greece into a net electricity exporter last year, for the first time since 2000.

The country used to import a significant part of its electricity in previous years. Back in 2019, net imports amounted to 10 TWh or 18% of total consumption, according to Minister of Environment and Energy Nikos Tsafos. The situation changed and Greece became a net exporter in 2024 with 307 GWh.

The economic benefits are important. The balance was a negative EUR 400 million in 2019, compared to EUR 122 million on the upside last year.

The change is also evident in wholesale electricity prices. Greece used to be 34% more expensive than Bulgaria six years ago. Now the price is about 2% lower.

Tsafos added that wind energy has been the secret behind the trend. Greece has different wind characteristics compared to the rest of Southeastern Europe. At times, wind farms produce large quantities while in neighboring markets their output is low.

Offshore wind to further increase exports

Indeed, Greece aims to utilize its advantage even further by developing offshore wind farms. The National Energy and Climate Plan (NECP) foresees the installation of 1.9 GW by 2030 and 6.2 GW by 2035.

So far, progress has been slow apart from a few pilot projects currently underway. Initial offshore development zones have been identified and the national plan has been updated. However, a presidential decree has yet to be signed to define the exact terms for offshore projects.

Stefatos: Benefits from balancing renewable energy through offshore wind

After the latest geopolitical and trade developments, the global offshore wind power market faces issues regarding increased costs and uncertainty. However, the head of the Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA), Aristofanis Stefatos, believes the potential benefits in Greece outweigh such concerns. “We should include in our calculation the benefit of balancing renewable energy in our energy mix through offshore wind,” he said recently.

Given their large capacity factor, offshore wind parks are expected to operate more as base capacity power plants than the traditional intermittent renewable energy units. A large part could go to exports.

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May 21, 2025
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Low consumption causes grid failure, power outage in North Macedonia

A grid failure caused a brief power outage in North Macedonia in the early hours on Sunday, May 18. Disruptions at the affected 400/110 kV transformer stations were triggered by high voltage levels in the grid, caused by low consumption, typical for nighttime hours and weekends at this time of year, according to a statement by the country’s transmission system operator, MEPSO.

MEPSO said its teams restored normal electricity supply in about an hour and were working to fully normalize the stability of the power system.

According to the update, grid instability caused by low consumption at nighttime and on weekends is a problem shared by almost all transmission system operators in the region and around Europe.

Bulgaria’s energy minister: Bulgaria played the crucial role in stabilizing North Macedonia’s grid

At the same time, Bulgarian Minister of Energy Zhecho Stankov said that a grid failure had affected several countries in Southeast Europe, though not Bulgaria. He added that his country’s balancing facilities were crucial in stabilizing North Macedonia’s grid, restoring supply, and preventing the crisis from spreading further. In Bulgaria, the Electricity System Operator (ESO) is responsible for the transmission network.

He claimed Serbia and Croatia have also experienced problems due to a lack of balancing facilities. “The colleagues from Serbia also had certain difficulties in the morning hours, and we managed to balance them out,” Stankov stated.

EMS has denied that any disruptions or outages occurred in Serbia

However, Serbia’s transmission system operator Elektromreža Srbije (EMS) told Balkan Green Energy news that the country’s grid did not experience any disruptions or outages and that there was no need for assistance from Bulgaria. EMS said it would not specifically comment on the Bulgarian minister’s statement because it was unclear what it was referring to.

In its reply to Balkan Green Energy News, EMS underscores that there were no consequences for the transmission system of the Republic of Serbia, explaining that EMS, at the request of MEPSO, to facilitate the repairs in North Macedonia, temporarily shut down the 400 kV transmission line between the Vranje 4 transformer station and the North Macedonian border.

Renewables had no share in the problem, according to Stankov

Stankov also stressed that solar power plants did not play a role in the crisis, unlike in Portugal and Spain in late April. The grid failure occurred in the early morning hours and amid low renewable energy generation, he said, adding that “renewable energy had no share in the problem.”

Bulgaria plans to build three new pumped storage hydropower plants

Bulgaria’s system remained stable thanks to its generating and balancing capacities, in Stankov’s view. He told the press that the country possesses 90% of all the reactive energy compensation capabilities in Southeast Europe.

Bulgaria is working with the European Investment Bank (EIB) to build at least three pumped storage hydropower plants in the Rhodope region, aimed at further enhancing regional grid resilience, Stankov pointed out. The minister vowed to keep the country’s grid on standby to support other regional networks in need of stabilization.

Stankov revealed that one such project is being developed for the Vacha dam. The other two pumped storage hydropower plants are planned to be built on the Dospat and Batak dams.

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May 20, 2025
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PPC starts building two battery storage systems in northern Greece

Public Power Corp. (PPC Group) is launching construction on two battery energy storage systems (BESS) in northern Greece, of 48 MW / 96 MWh and 50 MW / 100 MWh. There is currently no larger BESS in Southeastern Europe, but the Oslomej solar park in North Macedonia is expected to get a battery system of 62 MW in operating power by the end of the year.

PPC’s Melitis 1 battery system will be located in the vicinity of its future photovoltaic plants in the Western Macedonia region, and Ptolemaida 4 will be built in the area of the former Ptolemaida coal mines. The energy storage units are intended to support the operation of adjacent photovoltaic plants.

The battery systems are targeted for completion within the year

The systems will use liquid-cooled batteries with the lithium iron phosphate (LFP) technology, maximizing both energy utilization and safety during operation, according to a statement from the Greek company, controlled by the government through a minority stake. It expects to complete the construction within the year.

PPC Group’s investment plan for the 2025-2027 period envisages BESS projects totaling 600 MW, which are currently at various stages of implementation in Greece and elsewhere in Southeastern Europe.

Konstantinos Mavros, the group’s deputy CEO responsible for renewable energy sources, said PPC is a leader in investing in energy storage systems. “In the coming years it will significantly increase investments in all flexible generation systems through energy storage,” he stated.

PPC plans 600 MW of battery projects in Southeastern Europe

PPC Group recently started building a battery system in neighboring Bulgaria with 25 MW in operating power and a capacity of 55 MWh. The facility would support the operation of a new solar power plant with a total capacity of 165 MW.

The company runs renewable energy systems with a total capacity of 6.2 GW in Greece, Romania, Italy, and Bulgaria. Its investment plan envisages increasing the capacity from renewables to 11.8 GW by 2027. PPC’s strategic goal is to expand into new renewable energy technologies, such as offshore wind farms and floating solar parks.

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