Serbian oil company NIS announced that it has submitted a new request to the US Department of the Treasury for a special license, seeking to delay the full enforcement of US sanctions, which are scheduled to take effect on 28 April. The request aims to ensure the company can continue its operations without disruption beyond […]
Serbia: NIS seeks extended US sanctions delay as current license nears expiry Read More »
Nofar Energy has secured a comprehensive contract for a 265 MW solar power plant in Corbii Mari, Dambovita County, just west of Bucharest. The contract covers all phases of the project, from engineering to long-term operations and maintenance. This large-scale development is one of the biggest solar projects in Romania. The project will be developed
Romania: Nofar Energy finalizes major contract for 265 MW solar power plant Read More »
Montenegrin electricity distribution system operator, CEDIS, has earmarked more than 30 million euros for infrastructure investments in 2025, aiming to improve the country’s electricity distribution network and meet necessary supply standards. This year’s investment is approximately 6 million euros higher than the previous year, demonstrating the company’s growing ambitions and the increasing complexity of its
Montenegro saw a notable decrease in electricity production in 2024, generating 3,447 GWh, which is a 15% drop compared to the previous year and 4.4% below the forecasted figures. The decline was largely attributed to unfavorable hydrological conditions, as reported by the Ministry of Energy. Hydropower production, which is a key component of the country’s
Hungary set a new record for its lowest-ever electricity consumption on Easter Monday, thanks to exceptional solar energy production, as reported by Deputy Energy Minister and Government Commissioner Gabor Czepek. He noted that such low system loads were previously only observed in the early hours of the day before 2023. The previous record was set
Hungary sets record low electricity consumption amid surge in solar power Read More »
In 2023, the balancing market remained a crucial source of revenue for electricity producers, contributing approximately 21% of their total income, a trend expected to continue in 2024. Financially, the market generated €410 million last year, making up around 5% of the overall short-term electricity market. The balancing market consists of three main components: the
Greece: Balancing market contributes 21% to earnings of electricity producers in 2023 Read More »
The installation of a new regasification module at the LNG terminal on the Croatian island of Krk is nearing completion, with operations expected to begin in October. This upgrade will increase the terminal’s maximum annual capacity, doubling it from 3.1 to 6.1 billion cubic meters of natural gas. An auction for the allocation of these
Turkish renewable energy company Fortis Energy has announced plans to construct a 110 MW solar power plant near the town of Sid in northwestern Serbia. The Erdevik solar project will also feature a 31.2 MWh energy storage system, enhancing grid stability and energy reliability. The project reached a key milestone in January 2025, receiving approval
Serbia: Fortis Energy to build 110 MW solar power plant with storage Read More »
Banca Transilvania is extending €28 million in financial support to Simtel, a leading Romanian renewable energy company, to complete the development of a solar power plant in Giurgiu. The funding package includes a €16 million investment loan and a €12 million bridge loan, enabling Simtel to finalize the project, which is currently about 80% complete.
Eximprod Group has successfully completed the construction of a 50 MW solar power plant in Ciorani, located in Romania’s Prahova County, marking a major milestone in the country’s renewable energy efforts. With an installed capacity of 49.5 MW, the solar facility is now undergoing final commissioning procedures and is in the process of being connected
Romania: Eximprod Group completes 50 MW solar power plant in Prahova Read More »
